Some big name ASX shares have been under significant pressure over the past 12 months.

While this is disappointing for shareholders, it could have created a buying opportunity for others.

Let’s now look at three cheap ASX shares that could be hiding in plain sight:

CSL Ltd (ASX: CSL)

CSL is one of the most interesting cheap ASX blue-chip ideas on the market.

The biotech giant has had a difficult period, with investors losing confidence in its earnings outlook and growth profile.

That has left the share price trading at levels that would have seemed hard to imagine a few years ago.

But I think CSL remains interesting because its business has been built on foundations that competitors cannot quickly copy.

Its plasma operations require collection centres, specialist manufacturing, strict regulatory approvals, and deep relationships with healthcare systems. Those foundations take years to develop and give the company a level of scale that remains difficult to replicate.

If execution improves and confidence returns, the selloff could eventually look like an attractive entry point into a business with genuine global scale.

Treasury Wine Estates Ltd (ASX: TWE)

Another cheap ASX share that could be worth watching is Treasury Wine Estates.

The wine company has been through a rough period as investors have questioned demand, margins, inventory levels, and its growth outlook.

That pressure has weighed heavily on sentiment. However, Treasury Wine still owns a portfolio of wine brands with value in key markets. Its investment case is tied to brand strength, distribution, pricing power, and the ability to capture demand for premium wine over time.

This is a business where confidence can change meaningfully if trading conditions stabilise.

There are risks, especially around consumer demand and execution. But when investors turn against a branded consumer company, the share price can sometimes fall further than the long-term fundamentals justify.

If Treasury Wine can show that its premium portfolio still has earnings power, the current weakness could prove to be a compelling opportunity.

WiseTech Global Ltd (ASX: WTC)

A third cheap ASX share to consider is WiseTech.

The logistics software company has fallen heavily from its highs, leaving it trading at a fraction of the valuation the market was once willing to pay. In fact, its shares hit a multi-year low of $29.48 on Tuesday.

A good portion of this decline comes from concerns over allegations relating to its founder Richard White.

But if you look beyond the leadership uncertainty, WiseTech is a high-quality business with a strong offering.

Its CargoWise platform helps freight forwarders and logistics operators manage the complexity of global trade.

That includes customs, documentation, compliance, shipment management, invoicing, and cross-border workflows.

The business solves a difficult problem in a large global industry. Logistics is complex, fragmented, and full of manual processes, which gives software a meaningful role to play.

If WiseTech can rebuild confidence and move on from its founder concerns, its share price could have significant recovery potential.

The post 3 cheap ASX shares that could be hiding in plain sight appeared first on The Motley Fool Australia.

More reading

• Why A2 Milk, Calix, CSL, and Ioneer shares are charging higher today
• Down 53%, is it time to throw in the towel on CSL shares?
• WiseTech shares rebound 5%, responds to media reports: Is it time for investors to buy back in?
• Should I buy CSL and ResMed shares right now?
• WiseTech shares just crashed. Can investors look past the company’s governance issues?

Motley Fool contributor James Mickleboro has positions in CSL, Treasury Wine Estates, and WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Treasury Wine Estates, and WiseTech Global. The Motley Fool Australia has positions in and has recommended Treasury Wine Estates and WiseTech Global. The Motley Fool Australia has recommended CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Xero Ltd (ASX: XRO) shares are having another tough session on Tuesday as selling pressure continues to build on the ASX 200 tech stock.

At the time of writing, the Xero share price is down 3.19% to $66.43. By comparison, the S&P/ASX All Technology Index (ASX: XTX) is 1.14% lower to 2,891 points.

Earlier in the session, Xero shares fell as low as $66.30. That puts the stock around levels last seen during the early stages of the COVID market sell-off in March 2020.

It has been a brutal run for shareholders. Xero shares are now down more than 40% since the start of 2026 and around 65% lower than this time last year.

Why Xero shares are being sold off

There hasn’t been any new price-sensitive announcement from Xero today.

Instead, the latest fall looks to be part of the wider sell-off in tech shares, with growth stocks still out of favour.

Xero is still one of the biggest software names on the ASX, but the market is clearly not willing to pay the same price it once did.

That comes as investors focus more closely on earnings, margins, and how much companies are spending to grow.

Xero’s latest result showed another year of strong revenue growth. However, lower statutory profit, acquisition costs, and the Melio deal have given the market more to think about.

The business is still growing

Keep in mind, the sell-off doesn’t mean Xero has stopped growing.

In its FY26 result, Xero reported operating revenue of NZ$2.8 billion, up 31% on the prior year. Excluding Melio, organic revenue growth was 21%.

Its customer base also increased 11% to 4.92 million, with the company adding 506,000 net customers during the year.

Adjusted EBITDA rose 18% to NZ$757.4 million, while free cash flow came in at NZ$554 million.

Xero is also putting more focus on artificial intelligence (AI) and automation. This includes adding AI features to its platform and partnering with Anthropic to bring Claude into Xero.

Can the Xero share price recover from here?

The biggest question now is whether the share price fall has gone too far.

Xero is still growing revenue, adding customers, and producing free cash flow. The company has also guided to adjusted EBITDA of NZ$860 million to NZ$920 million in FY27.

However, the market still has a few reasons to be cautious.

The Melio deal still needs time, and the market may not be ready to pay up for software stocks just yet.

The post Xero shares just crashed to COVID-era lows. Is this ASX 200 tech stock broken? appeared first on The Motley Fool Australia.

More reading

• The ASX investing strategy that could quietly make you rich
• Down but not out: 3 ASX tech shares ripe for a rebound
• How to build an ASX share portfolio that can survive a market selloff
• Forget CBA: 3 ASX shares with better growth prospects
• If the ASX 200 rallies in the back half of the year these sectors could be portfolio winners

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Life360 Inc (ASX: 360) shares are tumbling today.

Shares in the S&P/ASX 200 Index (ASX: XJO) location sharing software developer closed yesterday trading for $23.19. During the Tuesday lunch hour, shares are changing hands for $22.49 apiece, down 3.0%.

For some context, the ASX 200 is up 0.1% at this same time.

Taking a step back, Life360 shares have slumped 29.7% over the past 12 months.

The company has faced a few headwinds, including the broader selling pressure that hit many Aussie and global Software as a Service (SaaS) stocks. That pressure followed growing investor concerns that artificial intelligence could replace a lot of the services these companies offer.

More recently, the ASX 200 tech stock has been enjoying a strong rebound. Indeed, shares are up 18.6% over the past month, smashing the 1.4% gains delivered by the benchmark index over this same period.

And looking ahead, Bell Potter Securities’ Christopher Watt believes Life360 is well-placed to keep outperforming in the months ahead (courtesy of The Bull).

Here’s why.

Why Life360 shares could keep marching higher

“This information technology company provides a mobile networking safety app for families,” Watt said.

Citing the first reason he’s bullish on the ASX 200 stock he noted, “Active user growth is rebounding following a technical issue, while paying circle growth, which drives revenue, recently exceeded expectations.”

As for the second reason you might want to buy Life360 shares today, Watt added, “Guidance has been upgraded. Once focus returns to paying circles, I expect a re-rating to follow.”

Then there’s the recent share price rebound and the company’s pending half year (H1 2026) results.

According to Watt:

The upcoming August result is a catalyst. The company has been enjoying strong price momentum, with the shares rising from $17.91 on May 20 to trade at $22.54 on June 18.

What’s the latest from the ASX 200 tech stock?

The last release deemed price sensitive to Life360 shares was the company’s Q1 2026 update on 12 May.

Among the highlights, the company reported quarterly revenue of US$143.1 million, up 38% from Q1 2025. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of US$17.1 million were up 7%.

As for the guidance upgrade Watt mentioned above, Life360 raised its full-year 2026 revenue guidance to between US$650 and US$685 million. That was up from prior revenue guidance of US$640 million to US$680 million.

Management also expects to deliver improved earnings, boosting Life360’s full-year adjusted EBITDA guidance to US$130 to US$140 million, up from the prior guidance of US$128 million to US$138 million.

The post 3 reasons to buy the dip on Life360 shares today appeared first on The Motley Fool Australia.

More reading

• Buy, hold, sell: Life360, Woodside, CSL shares
• Experts name 3 ASX 200 shares to buy
• Down but not out: 3 ASX tech shares ripe for a rebound
• 5 things to watch on the ASX 200 on Monday
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360. The Motley Fool Australia has positions in and has recommended Life360. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.