NextDC Ltd (ASX: NXT), Generation Development Group Ltd (ASX: GDG), and Fortescue Ltd (ASX: FMG) shares closed at fresh 52-week lows on Wednesday afternoon.
Here’s what has happened to the ASX shares, and what brokers expect next.
NextDC shares
NextDC shares dropped around 2% on Wednesday and closed the day at just $10.23 a piece. That’s the lowest close price the data centre operator’s shares have traded at since March 2023.
At one point in the late afternoon, the ASX shares even fell as low as $10.17 each. They’ve now crashed around 20% over the past month, and are down 17% for the year to date.
There hasn’t been any price-sensitive news out of the business to explain the latest sell-off. It’s likely that investors are still digesting the company’s disappointing FY26 results announcement in late August.
A higher interest rate environment and climbing inflation are also likely spooking investors and causing many to rotate towards more defensive assets.Â
The good news is that NextDC’s offerings – being physical data centres, including cooling, power, and security – are expected to benefit from stronger demand as data usage increases.
NextDC may have tumbled to a new multi-year low, but if analyst forecasts are anything to go by, it could be an opportune time for investors to buy in the dip.
Market Index data shows all brokers have a strong buy rating on the shares. The average $20.79 target price implies an upside of around 103% at the time of writing.
Generation Development Group shares
Generation Development Group shares closed around 1% lower on Wednesday afternoon, at a two-year low of $2.65 a piece. The diversified financial services company’s shares have now fallen roughly 21% over the past month, and are down a huge 55% so far in 2026.
Like NextDC, there hasn’t been any price-sensitive news out of the company to explain the latest decline. Generation Development Group’s latest market update was its FY26 financial results in late August.Â
The company posted a record 37% year-on-year increase in funds under management, and a 21% rise in underlying NPAT. Group revenue also climbed 23%.Â
The sell-off is most likely the result of a broad-based rotation away from financial shares over the past month, amid a higher interest rate environment and sky-high bond yields.
But Generation Development Group thinks it is well-placed to benefit from strong structural tailwinds across superannuation, retirement, and managed account markets in FY27.
Again, the experts are optimistic that the ASX shares can rebound from the latest slump. Market Index data shows that all brokers have a strong buy rating on the shares. The $5.62 average target price implies an upside of around 112% at the time of writing.
Fortescue shares
Fortescue shares also tumbled around 2.5% on Wednesday, closing at $16.01 a piece. That’s the lowest trading price the ASX iron ore stock has seen since June 2025. The shares have also fallen 10% over the past month and are down 28% year to date.
The shares have mostly been hit by headwinds from falling iron ore prices. The company generates substantial cash flow from its large iron ore operations, so rising iron ore prices are a tailwind and falling prices are a headwind for the miner.Â
At the time of writing, iron ore is trading at around US$91 per tonne, according to Trading Economics data. That’s the lowest price the metal has experienced since November 2022.
It looks like the experts are concerned that there is room for the shares to stage a turnaround over the next 12 months. Unless there is a sharp turnaround in the price of iron ore, Fortescue shares may continue to be under pressure.
Market Index data shows that the majority of brokers have a hold rating on the shares. But after the latest slump, the $17.88 average target price still implies a potential 12% upside ahead.
The post NextDC, Generation Development, Fortescue shares hit 52-week low. Can they rebound? appeared first on The Motley Fool Australia.
Should you invest $1,000 in Nextdc right now?
Before you buy Nextdc shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Nextdc wasn’t one of them.
The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
* Returns as of 1 August 2026
.custom-cta-button p {
margin-bottom: 0 !important;
}
More reading
- Fortescue vs PLS Group: Which ASX mining share is the better buy?
- Droneshield vs NextDC: Which ASX tech share is the better buy?
- 4 ASX shares tipped by brokers to return 18% to 96%
- 3 ASX shares tipped to fly 109% to 322% higher
- Buy, hold, sell: New Hope, Cleanaway Waste Management, NextDC shares
Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Generation Development Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.