Author: openjargon

Look at the S&P/ASX 200 (ASX: XJO) today, and it appears reassuringly familiar.

Banks and miners still dominate.

Commonwealth Bank of Australia (ASX: CBA), BHP Group Ltd (ASX: BHP), and CSL Ltd (ASX: CSL) still sit near the top of the index, exactly as they did a decade ago.

Yet almost every force that actually drives those companies has inverted since 2016.

That contrast is worth exploring further

The ASX 200 index has climbed, but not spectacularly

In mid-2016 the ASX 200 sat around 5,200 points.

Today it trades near 8,800.

That is a capital gain of roughly 69% over ten years, or approximately 5.4% per annum before dividends.

Including dividends and franking credits, the total return has been meaningfully better.

Since inception, the index has returned approximately 8.53% per annum including dividends, compared to 4.17% excluding them.

The interest rate environment has completely reversed

This is the biggest change, and it explains most of the others.

In 2016 the RBA was cutting.

The cash rate sat at 1.75% in July that year before falling to 1.50%, a record low at the time.

Money was cheap, and investors were being pushed out of cash and into shares in search of any yield at all.

Today the RBA has hiked three times in 2026 alone, taking the cash rate to 4.35%, its highest level since 2011.

Furthermore, Governor Michele Bullock told reporters after the June decision:

Today’s decision does not rule out further tightening in monetary policy if that is what is required to bring inflation down.

A decade ago, low rates inflated the valuations of anything with growth attached to it.

Today, high rates are systematically deflating them.

The commodities that move the market have changed

In 2016 the market’s obsession was Chinese steel demand and the iron ore price, which had collapsed from above US$100 per tonne to below US$50.

BHP had just slashed its dividend by nearly 75%, cutting it from US62 cents per share to US16 cents and abandoning its progressive dividend policy.

The mood around the miners was bleak.

Today the story is completely different.

For the first time in BHP’s 136-year history, copper earnings exceeded iron ore contributions in the first half of FY26. This is driven by AI data centre construction, electric vehicles, and grid infrastructure investment.

Moreover, BHP plans to grow copper-equivalent production at 3% to 4% per year through 2035.

The commodity cycle did not necessarily recover, but rather it was replaced by a different one.

Entire sectors did not exist

Perhaps the most striking change is what was absent in 2016.

The S&P/ASX All Technology Index (ASX: XTX) did not launch until February 2020.

Artificial intelligence did not exist as an investable theme in any form. Lithium was a curiosity rather than an industry. Lastly, data centres were basic infrastructure, not a growth story.

Every one of those has since become a defining feature of the market, and in several cases a source of both enormous gains and brutal losses.

What has not changed for the ASX 200

Financials and materials remain the two largest sectors on the ASX, exactly as they were in 2016.

The big four banks still anchor the index.

Australia is still, fundamentally, a market of banks and miners with a healthcare giant attached.

For all the disruption of the past decade, the structural shape of the ASX has proven remarkably durable.

Foolish takeaway

The lesson from ten years of ASX 200 history is not that everything changes.

It is that the drivers change while the names stay the same.

An investor who bought BHP in 2016 was buying an iron ore business in a rate-cutting world. An investor buying BHP today is buying a copper business in a rate-hiking world.

Same ticker, but an entirely different investment.

The post What did the market look like 10 years ago? Here’s what’s changed for the ASX 200 appeared first on The Motley Fool Australia.

More reading

• 3 ASX ETFs that have returned better than 80% over the past year
• Would Warren Buffett buy CSL shares?
• How much superannuation do you need to earn $5,000 a month in passive income?
• CSL shares are up 35% since early June. Is the recovery here to stay?
• How much could the CBA share price rise in the next year?

Motley Fool contributor Mark Verhoeven 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 CSL. The Motley Fool Australia has recommended BHP Group and CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The AI memory boom just produced one of the largest IPOs in stock market history.

SK Hynix, the South Korean chipmaker that supplies the high-bandwidth memory sitting inside almost every Nvidia processor, sold 177.9 million American depositary shares at US$149 each on 9 July. The company raised approximately US$26.5 billion.

The securities began trading on the Nasdaq on 10 July under the ticker SKHY, closing their first session up approximately 13% at US$168.

That makes it the largest US listing ever by a foreign company, surpassing Alibaba’s US$25 billion debut in 2014.

It is also the second-largest globally after SpaceX’s US$85.7 billion Nasdaq listing in June.

Is this technically speaking a SK Hynix IPO?

Despite the headlines, this was not technically an IPO.

SK Hynix’s common shares have traded on the Korea Exchange for decades, and the company was already valued above US$1 trillion before the US listing.

What happened last Friday was an American depositary share offering, creating a new US-traded security tied to an already-public business rather than floating a previously private company.

SK Hynix did not become a public company through this offering. However, it made itself far easier for American and international investors to own.

Why the AI memory story is important for ASX investors

SK Hynix reported revenue of 97.1 trillion won, approximately US$64.1 billion, in 2025, a company record.

Net income reached 42.9 trillion won, or approximately US$28.3 billion, implying a net profit margin of 44%.

Its Korea-listed shares have risen more than 515% over the past twelve months as high-bandwidth memory became a critical bottleneck in AI infrastructure.

The company captures approximately 56% of the global HBM market, according to its SEC filing.

For ASX investors, that AI memory demand story connects directly to two ASX-listed funds and one Australian company.

Global X Semiconductor ETF

The most direct ASX exposure to SK Hynix is through the Global X Semiconductor ETF (ASX: SEMI).

SK Hynix is already one of SEMI’s largest holdings, sitting alongside Micron, AMD, TSMC, and Nvidia.

SEMI holds just 30 companies tracking the Solactive Global Semiconductor 30 Index, making it a concentrated, high-conviction way to own the semiconductor supply chain from the ASX.

That concentration cuts both ways.

The fund is heavily exposed to the memory cycle, which has historically been one of the most volatile in technology. The sector has periods of shortage-driven price surges followed by oversupply and collapsing margins.

SK Hynix’s own capital expenditure plans, including two new fabrication complexes in South Korea, are examples of capacity expansion that have triggered previous downturns.

Betashares Nasdaq 100 ETF

The Betashares Nasdaq 100 ETF (ASX: NDQ) is the other route, though the connection is less immediate.

SK Hynix’s Nasdaq listing raises the prospect of eventual Nasdaq-100 index inclusion. This would force every fund tracking that index, including NDQ, to buy SKHY.

That is the same dynamic that played out with SpaceX’s fast-track inclusion earlier this month.

NDQ holders should understand that index inclusion is not automatic and would depend on SK Hynix meeting the exchange’s eligibility criteria for foreign-domiciled ADRs.

NextDC Ltd

NextDC Ltd (ASX: NXT) is the Australian company most directly connected to the same underlying trend.

The AI memory shortage driving SK Hynix’s extraordinary revenue growth exists because AI data centres are consuming HBM faster than manufacturers can produce it.

NextDC builds and operates those data centres in Australia.

Contracted utilisation surged 60% to 667MW in the March 2026 quarter alone, and the company’s forward order book is expected to generate contracted EBITDA in excess of A$1 billion.

Every dollar of SK Hynix’s memory revenue reflects AI compute demand that must be housed somewhere, and in Australia, that increasingly means NextDC.

Foolish takeaway for the SK Hynix IPO

SK Hynix’s IPO is a landmark moment for the AI memory trade.

For ASX investors, SEMI provides the most direct exposure, NDQ offers a potential future index-inclusion angle, and NextDC captures the same underlying AI infrastructure demand from the Australian side.

But investors should remember that memory is a famously cyclical industry.

A wave of AI companies rushing to IPO at peak valuations has historically been a signal worth treating with caution rather than enthusiasm.

The post SK Hynix IPOs in the US. Here’s what that means for ASX investors appeared first on The Motley Fool Australia.

More reading

• 3 ASX ETFs that have returned better than 80% over the past year
• Analysts are still bullish on SpaceX shares after Nasdaq inclusion. Here is what that means for ASX investors
• 2 ASX shares tipped to grow 45% or more in the next 12 months
• NEXTDC boosts funding with $2.3 billion senior debt facility upsize
• Your FY27 tax return will look different. Here’s what changed and how to prepare

Motley Fool contributor Mark Verhoeven 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 BetaShares Nasdaq 100 ETF. The Motley Fool Australia has positions in and has recommended BetaShares Nasdaq 100 ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Now that the initial public offering (IPO) of Elon Musk’s Space Exploration Technologies Corp (NASDAQ: SPCX) is complete and bedded down, investors all over the world have a myriad of options at their disposal if they wish to invest in this ambitious company. Yes, SpaceX stock has, at least as of the time of writing, come off the boil a little. Even so, this company remains a behemoth on the world stage, commanding a market capitalisation of US$1.91 trillion.

For an investor wishing to get themselves a slice of this company, the most direct way remains buying SpaceX stock themselves. Yes, SpaceX is listed on the American NASDAQ exchange and is thus not available for purchase on the ASX. However, it has arguably never been easier to open a US brokerage account from Australia and put some shares against a name.

Even if an investor isn’t comfortable with owning a US stock directly, there are locally-based options. These essentially boil down to owning an exchange-traded fund (ETF) that, in turn, owns SpaceX shares. That allows ASX investors to indirectly invest in SpaceX without having to buy US dollars or open an international brokerage account.

But which ASX ETF to pick? Well, SpaceX shares haven’t qualified for many international index funds just yet. For instance, the company hasn’t yet made the cut for either the iShares S&P 500 ETF (ASX: IVV) or the BetaShares Nasdaq 100 ETF (ASX: NDQ). It probably will with time, albeit as one relatively small holding among many.

Two ASX ETFs to buy for SpaceX stock

However, some ASX ETFs of the thematic persuasion haven’t wasted any time in buying SpaceX stock. These ETFs are giving the company a lot of real estate.

If that sounds appealing to investors, the first port of call may be the BetaShares Space Industry ETF (ASX: RCKT). This ETF was launched back in May. Although it didn’t invest in SpaceX until the IPO, today, the company commands a whopping 26.8% of RCKT’s entire portfolio. That means more than one in every four dollars invested in this fund finds its way to SpaceX stock.

The other option for ASX investors seeking a substantial but local SpaceX investment is the Global X Space Tech ETF (ASX: MOON). This ETF has just over a month of ASX life to its name. Saying that, MOON’s portfolio is dominated by SpaceX stock as well. Space Exploration Technologies Corp makes up 26.7% of the ETF’s entire weighted portfolio.

Thus, there are a few options for ASX investors who may like to own some SpaceX stock today.

The post SpaceX stock: Which ASX ETF buys you the most? appeared first on The Motley Fool Australia.

More reading

• Analysts are still bullish on SpaceX shares after Nasdaq inclusion. Here is what that means for ASX investors
• SpaceX will be included in the Nasdaq index this week. Here’s what that means for ASX investors
• SpaceX climbs nearly 20% after its IPO. Here’s why that is good news for these ASX shares
• After SpaceX, the Anthropic and OpenAI IPOs are next. Here is what ASX AI investors need to know
• SpaceX shares are rocketing – how can Aussie investors get exposure?

Motley Fool contributor Sebastian Bowen 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 BetaShares Nasdaq 100 ETF and iShares S&P 500 ETF. The Motley Fool Australia has positions in and has recommended BetaShares Nasdaq 100 ETF. The Motley Fool Australia has recommended iShares S&P 500 ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Genesis Minerals Ltd (ASX: GMD) share price is in focus after the company announced it will merge with Vault Minerals Ltd (ASX: VAU) to create a new Australian gold major, boasting a pro-forma market capitalisation of $12.6 billion and combined gold production of 600–700koz per year.

What did Genesis Minerals report?

• Genesis and Vault to merge via a scheme of arrangement, forming one of Australia’s top three gold miners
• Pro-forma market capitalisation of around $12.6 billion, with $611 million net cash
• Combined Ore Reserves of 9.4 million ounces and Mineral Resources of 33.6 million ounces
• Expected annual gold production of 600–700 thousand ounces, all in Western Australia
• Vault shareholders to receive 0.7629 Genesis shares and $0.475 cash for every Vault share

What else do investors need to know?

The merged group will consolidate a range of complementary assets, giving it dominant scale in the Leonora-Laverton gold district. Both Genesis and Vault boards fully back the proposal, which offers Vault shareholders an immediate premium and access to the larger group’s growth pipeline.

Operationally, the merger aims to unlock around $2.0 billion in post-tax cost synergies and capital savings over 10 years. These savings are mainly driven by optimising milling, mining, and processing facilities between the two companies’ regional assets.

The deal is expected to reach implementation by November 2026, pending customary court, regulatory, and shareholder approvals.

What did Genesis Minerals management say?

We’re bringing together two high quality gold businesses, delivering strong shareholder alignment, operational flexibility and the scale required to compete globally.

What’s next for Genesis Minerals?

After the merger, Genesis and Vault will operate as a single entity led by an experienced team, with Genesis shareholders holding about 60% ownership and Vault shareholders about 40%. The group plans to focus on production growth, exploration, and accelerating the development of high-potential assets in its expanded portfolio.

A key priority will be completing the integration and pursuing identified cost synergies, especially in the Leonora-Laverton region. Management also expects to provide a group-wide updated production and growth outlook in the second half of 2027.

Genesis Minerals share price snapshot

Over the past 12 months, Genesis Minerals shares have risen 43%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has risen 3% over the same period.

View Original Announcement

The post Genesis Minerals and Vault to merge, forming new Australian gold major appeared first on The Motley Fool Australia.

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• This ASX gold stock could soar 60% thanks to a big announcement

Motley Fool contributor Laura Stewart 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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

Space Exploration Technologies Corp (NASDAQ: SPCX) shares have had an extraordinary first month.

Shares were issued at US$135 before listing on 12 June, and the stock climbed well above US$200, pushing the valuation above US$2 trillion.

Since then, SpaceX shares have come back down to earth. Although, the company was then fast-tracked into the NASDAQ-100 Index (NASDAQ: NDX) in early July, approximately 15 trading days after listing.

Analysts remain bullish.

For ASX investors, that matters more than most realise, because a large number of Australians now own a piece of SpaceX without having made any decision to buy it.

Reasons to remain bullish on SpaceX shares

The core of the bull case is Starlink.

According to SpaceX’s S-1 filing with the SEC, the Starlink connectivity segment generated US$11.4 billion in revenue in 2025. The segment delivered US$4.4 billion in operating income, representing year-on-year growth of 49.8% and 120.4%, respectively.

Starlink served 10.3 million subscribers across 164 countries as at 31 March 2026, up from just 2.3 million in 2023.

This is a business growing at extraordinary speed with a defensible moat. Launching a satellite constellation of that scale requires launch capability that almost no competitor possesses.

The Nasdaq-100 inclusion added a further mechanical tailwind. This will force index-tracking funds worldwide to buy SpaceX regardless of any individual portfolio manager’s view on valuation.

Betashares Space Industry ETF

The Betashares Space Industry ETF (ASX: RCKT) is the most direct ASX exposure.

SpaceX has already been included in RCKT following the fund’s fast-track inclusion feature. This allowed it to enter the Solactive Space Industry Index far more quickly than standard timelines would permit.

SpaceX now accounts for approximately 27% of the RCKT portfolio, making it the fund’s single-largest holding by a wide margin.

That concentration deserves a closer look. RCKT is no longer a diversified space economy fund in any meaningful sense.

It is now, in effect, a SpaceX fund with 28 other holdings attached, and its performance will be dominated by what SPCX does from here.

Betashares Nasdaq 100 ETF

The Betashares Nasdaq 100 ETF (ASX: NDQ) is where most Australians now own SpaceX without having chosen to.

NDQ is one of the most widely held ETFs in Australia, and SpaceX’s Nasdaq-100 inclusion means every NDQ holder automatically gained SpaceX exposure when the index inclusion took effect.

The same applies to holders of the Vanguard MSCI International Shares ETF (ASX: VGS) and the iShares S&P 500 ETF (ASX: IVV). What’s more, the millions of Australians whose superannuation funds hold international shares benchmarked against major US indices have also gained exposure.

For most investors, that exposure will be small relative to the overall portfolio.

But it exists, automatically, without any further action required.

The risk worth understanding for SpaceX shares

SpaceX is not a conventionally profitable company.

The company posted a GAAP net loss of US$4.94 billion in 2025, driven by losses in the xAI and Space divisions that offset Starlink’s profitability.

A company trading above US$2 trillion with significant GAAP losses is a demanding proposition, even for investors genuinely excited by the long-term opportunity.

The mechanical index buying that has supported the share price since listing was a one-time event, not a permanent support mechanism.

Furthermore, SpaceX bonds issued shortly after the IPO have reportedly sold off to levels comparable with junk-rated borrowers.

This is despite investment-grade ratings, a warning sign that the debt market is less enthusiastic than the equity market.

Foolish Takeaway for SpaceX shares

Analysts remain bullish on SpaceX shares, and Starlink’s growth justifies significant optimism.

But for ASX investors, the more important point is that ownership of SpaceX is now largely automatic rather than chosen.

RCKT holders own it heavily, at around 26% of the fund.

NDQ, VGS, and IVV holders own it passively.

Understanding how much exposure you actually have to SpaceX is perhaps a more useful exercise than debating whether to buy it.

The post Analysts are still bullish on SpaceX shares after Nasdaq inclusion. Here is what that means for ASX investors appeared first on The Motley Fool Australia.

More reading

• SK Hynix IPOs in the US. Here’s what that means for ASX investors
• SpaceX stock: Which ASX ETF buys you the most?
• The best Vanguard ETFs to buy and hold
• ASX IVV and other iShares ETFs are paying dividends today!
• Where to invest $50,000 in ASX ETFs this month

Motley Fool contributor Mark Verhoeven 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 BetaShares Nasdaq 100 ETF and iShares S&P 500 ETF. The Motley Fool Australia has positions in and has recommended BetaShares Nasdaq 100 ETF. The Motley Fool Australia has recommended Vanguard Msci Index International Shares ETF and iShares S&P 500 ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

There are so many ASX shares Aussies can buy, as share prices fluctuate constantly. Some can end up being significantly undervalued, based on analyst opinions.

Company updates can change investor confidence , while sell-offs can unlock ideas for opportunistic Aussies.

Analysts regularly tells investors about price targets, which explains to us where the share price could be in 12 months from the time of that investment call.

Let’s look at two ASX shares with a potentially exciting future.

Judo Capital Holdings Ltd (ASX: JDO)

Judo is a financial institution that provides loans to small and medium enterprises (SMEs), with term deposits being a key source of funding. Term deposit customers include SMSFs, individuals and businesses.

The company recently said its FY26 cost-to-risk is expected to be in the range of between $116 million to $122 million because of three exposures across different sectors as a result of customer-specific developments.

Even so, Judo still expects its FY26 profit before tax (PBT) to be between $163 million to $169 million, or approximately 30% growth compared to FY25.

The company also expects FY27 PBT to be between $210 million to $220 million, which would be a 30% rise as a result of growth and operating leverage despite this period of uncertainty.

According to CMC Invest, there have been 10 ratings on the business within the last three months, with eight of those being a buy and two being a hold. Of those 10 ratings, the average price target is $1.63, which implies a possible rise of 77% from where it is at the time of writing.                                                                         

Nextdc Ltd (ASX: NXT)

Another ASX share that has attracted a lot of positive attention is Nextdc, a business that builds, owns and operates data centres in a number of Australian cities. It also has a growing number of locations overseas, including Japan, Malaysia and New Zealand.

The business is investing heavily in data centres to provide the computing infrastructure feeding global demand for AI.

Nextdc is seeing this period as a great time to heavily invest, and it’s also seeing a rapid increase in the contracted utilisation. In mid-April, the company upgraded its contracted utilisation by 60% to 667MW and it also upgraded its FY26 capital expenditure guidance range to between $2.7 billion to $3 billion.

According to CMC Invest, there have been eight broker ratings on the business in the last three months, with all of those being a buy. The average price target of those eight analysts is $20.41, which implies a possible rise of 46%.

These are both businesses growing profit rapidly, though there are other ASX shares that could be even better buys.

The post 2 ASX shares tipped to grow 45% or more in the next 12 months appeared first on The Motley Fool Australia.

More reading

• SK Hynix IPOs in the US. Here’s what that means for ASX investors
• NEXTDC boosts funding with $2.3 billion senior debt facility upsize
• 9 ASX 200 shares downgraded by analysts this week
• 3 ASX 200 shares with 50% to 100% upside in FY27
• Buy, hold, sell: CAR Group, Judo Capital, and Worley shares

Motley Fool contributor Tristan Harrison 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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

ASX tech shares spent the early 2020s being described as the future of the local share market.

The scoreboard tells a different story.

The Betashares S&P/ASX Australian Technology ETF (ASX: ATEC), which tracks the S&P/ASX All Technology Index (ASX: XTX), traded at $22.37 five years ago.

Today it trades at approximately $22.69.

A $10,000 investment five years ago would have bought approximately 447 units.

Those 447 units are worth approximately $10,143 today.

That is a capital gain of roughly 1.4% over five full years, before distributions.

Distributions would add modestly to that figure, but the headline is unavoidable: on price alone, ASX tech investors have gone almost nowhere.

How ASX tech shares went nowhere so dramatically

The flat five-year result conceals extraordinary volatility.

ATEC returned 3.89% in 2021, then crashed 32.43% in 2022 as interest rates rose and growth valuations compressed violently.

It then recovered hard, gaining 34.91% in 2023 and 42.27% in 2024, before falling 10.60% in 2025 and dropping a further 12% so far in 2026.

The ETF now sits approximately 30% below its twelve-month high of $33.29.

Investors who bought and sold at the right moments in that cycle did extremely well.

Investors who simply held for five years captured none of it.

Here are some ASX tech shares that have defined the performance of this ETF over the last 5 years.

Xero a great business, a terrible entry price

Xero Ltd (ASX: XRO) is one of ATEC’s largest holdings at approximately 9% of the fund.

Xero has fallen approximately 60% from its all-time high of $196.52.

The business itself has not deteriorated.

The FY2026 result delivered 31% revenue growth to $2.75 billion, with the US business surging 240% on the back of the Melio acquisition.

The decline is almost entirely a valuation story. At its peak, Xero traded at well over 100 times earnings. This multiple assumed years of uninterrupted growth and left no margin for the rate environment to change.

WiseTech Global: the index’s biggest destroyer of value

WiseTech Global Ltd (ASX: WTC) sits at approximately 5.7% of ATEC.

WiseTech was the worst performer in the entire ASX 200 in FY26, dropping 70% in value.

Unlike Xero, WiseTech’s collapse was not primarily about valuation.

It was about governance, driven by a series of allegations against founder Richard White, including an AFP investigation.

However, the CargoWise platform remains used by 23 of the world’s top 25 global freight forwarders, and WiseTech has maintained its FY26 guidance throughout the turmoil.

The business did not break, rather, investor trust did.

What this actually teaches investors

The lesson here is not “avoid technology.”

It is that entry valuation determines outcomes, and that concentration inside a narrow sector index can be punishing.

ATEC’s top ten holdings account for approximately 75% of the fund.

When two of the largest fall 60% and 70% respectively, nothing in the remaining holdings can offset that.

Over the same five-year window, an investor in a broader ASX 200 index fund would have collected years of dividends and franking credits while the tech index went sideways.

Foolish takeaway for ASX tech shares

$10,000 invested in ASX tech shares five years ago is worth approximately $10,143 today on a capital basis.

The businesses inside that index include some of the finest companies in Australia.

The prices investors paid for them in 2021 were the problem, not the businesses themselves.

For investors looking at today’s heavily discounted tech sector, that fact is worth considering.

The post Here’s what $10,000 invested in ASX tech shares 5 years ago would be worth now appeared first on The Motley Fool Australia.

More reading

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• Another CEO share sale has this ASX 100 tech stock sinking today
• Should I invest $2,500 into WiseTech shares?
• 10 fantastic ASX shares to buy for FY27
• Has the WiseTech share price finally hit the bottom after crashing 50%?

Motley Fool contributor Mark Verhoeven 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 WiseTech Global and Xero. The Motley Fool Australia has positions in and has recommended WiseTech Global and Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

When it comes to looking for outsized returns among ASX shares, it pays to check in with the professionals.

I’ve reviewed the reports coming out of the major broking houses and zeroed in on four from Canaccord Genuity, which profile companies that could do very well indeed.

Let’s see which companies they like at the moment.

Bravura Solutions Ltd (ASX: BVS)

Shares in Bravura jumped last week after the company delivered a better-than-expected earnings update for the past financial year.

The company said revenue would be within its previously guided range of $280 to $285 million, but cash EBITDA would be about $77 million, compared with previous guidance of $69 to $73 million.

Managing Director Colin Greenhill said the company had “continued to manage costs well whilst investing in core technology and exploring new initiatives”.

Canaccord Genuity said in its note to clients they believed cost management was the key to the result.

They said:

With costs very tightly managed in the half, we believe this positions BVS well entering FY27. With the new financial year potentially having lower project work, in our view, given FY26 featured work on the Aware and Telstra Super merger (of which Aware has labelled as completed), the potential for lower FY27 project revenue seems to be well managed by the cost-base being tightly managed.

The broker has a $2.73 price target on Bravura shares compared to $2.17 at the time of writing.

Light & Wonder Inc (ASX: LNW)

Canaccord Genuity said a recent share price pullback has Light & Wonder shares trading near 12-month lows, “and offering valuation constructs not seen in recent years”.

They added:

In addition, a widening of the discount to Aristocrat Leisure (ASX: ALL) has been apparent in recent months at levels not far from historic peaks. We remain attracted to the LNW thesis and consider the business to have a solid medium-term growth profile.

The broker has a $182 price target on Light & Wonder shares compared to $102.78 at the time of writing.

Mesoblast Ltd (ASX: MSB)

This drug company recently reported its quarterly sales results for its flagship drug Ryoncil, notching up US$36 million for the quarter and US$115 million for the full year.

The company’s Chief Executive Officer, Dr Silviu Itescu, said Mesoblast was anticipating continued revenue growth in the current financial year, “in line with momentum we are seeing across major U.S. paediatric centres”.

Canaccord Genuity said it viewed consensus estimates of US$180 to US$190 million in Ryoncil sales this year as ambitious, but still has a bullish share price target of $3.23, up from $2.34 at the time of writing.

Pantoro Gold Ltd (ASX: PNR)

Canaccord Genuity has a very bullish $4.20 share price target on this company, compared to the price of $2.04 at the time of writing, but stresses that this is a speculative buy for investors.

Pantoro missed production estimates for the June quarter, but Canaccord said the longer-term story was of interest.

PNR expects to release its 5-year production plan this quarter alongside its annual Resource and Reserve update, which we expect will incorporate the new high-grade underground zones being delineated by PNR’s extensive ongoing growth program. We note PNR has reaffirmed its long-term growth target of up to 200kozpa of production.

This compares to the current guidance for FY27 of 90,000 to 105,000 ounces of gold.

The post 4 ASX shares which could improve by 25% to more than 100% appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England 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 Bravura Solutions and Light & Wonder Inc. The Motley Fool Australia has recommended Light & Wonder Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

If you are looking for big returns and have a high tolerance for risk, then read on.

That’s because listed below is one ASX share that Bell Potter believes could rocket higher over the next 12 months.

Which ASX All Ords share?

The share that has caught the eye of Bell Potter is Aroa Biosurgery Ltd (ASX: ARX).

It is a commercial stage medical device company that operates within the wound care and soft tissue reconstruction sector.

Bell Potter was pleased to see that the company has successfully completed a prospective randomised controlled trial for Symphony in diabetic foot ulcers.

It highlights that the “preliminary results [are] indicating the primary endpoint of complete wound closure at 12 weeks was met.”

This is good news because the Symphony product could have a billion-dollar market opportunity. It commented:

Although the full dataset remains due in Q3 FY27, the readout provides important clinical validation ahead of Symphony’s commercial launch and supports its positioning under a tougher coverage framework. That early validation arrives as the CY26 CMS reimbursement reset continues to disrupt the US skin substitute market. 

The new US$127.14/cm² flat rate has compressed the elevated pricing underpinning many legacy products, with Organogenesis and MiMedx both reporting wound-care revenue declines of at least 60% in Q1 CY26 and consensus expecting pressure to persist through the year. We estimate market size in outpatient care at greater than US$1b.

Time to buy

According to the note, the broker has retained its buy rating and $1.09 price target on the ASX All Ords share. Based on its current share price of 58.5 cents, this implies potential upside of 86% for investors over the next 12 months.

Touching on its outlook and investment thesis, Bell Potter said:

Beyond the clinical readouts, 2H CY26 should bring further clarity on the reimbursement environment. Key watchpoints should include the final PFS and OPPS rules following CMS’s proposal to retain the current flat-rate methodology for CY27, while any revised DFU/VLU LCDs could further raise the evidence threshold and narrow the reimbursable product set. 

Investment thesis: Buy; TP $1.09 (unchanged) The Myriad growth story remains intact and the outlook for Symphony revenues continues to improve. We make no changes to earnings and maintain our Buy rating and PT of $1.09.

This could make Aroa Biosurgery worth considering if you are looking for exposure to the healthcare sector.

The post Which ASX All Ords share could rocket 90%? appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro 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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Age Pension is a fortnightly sum paid to Australians aged 67 years or older to help them fund a basic retirement.

The catch is, not everyone over 67 years old is eligible. And the payment amount you could get is heavily dependent on your income and the value of assets you own.

Here’s everything you need to know about the Age Pension income test, the asset test, and how much you could get.

The maximum Age Pension payment

The Age Pension has a maximum total fortnightly payment of $1,200.90 for retired singles and $1,810.40 for couples combined. 

These sums include the maximum basic rate, the maximum pension supplement, and the energy supplement.

How is my final payment level calculated?

Centrelink assesses you under both an income and an asset test. It then applies whichever gives you the lowest rate of payment for your individual circumstances.

What is the Age Pension income test?

The income test assesses all of your income, pooled from all sources.

Your income includes your wages, but also includes anything from superannuation contributions, investment income, bonuses, or commission payments. 

It’s also applicable regardless of your age. 

In order to receive the full Age Pension single Australians can earn up to $226 per fortnight. Meanwhile, couples can earn up to $396 per fortnight.

But the good news is that if you’re over these thresholds, you could still be eligible for some sort of part payment. 

Single Australians can earn up to $2,627.80 per fortnight. Then and couples (living together) can earn up to $4,016.80 per fortnight and still qualify for at least a part-Age Pension, which is assessed on a sliding scale.

For a single person, your Age Pension will reduce by 50 cents for each dollar over $226. For couples it will reduce by 25 cents for each dollar over $396.

It means that the more you earn, the lower your Age Pension payment will be, until it reaches zero.

What about the Age Pension asset test?

The asset test includes everything you own, whether it’s in full, in part, or you have an interest in. It does exclude your primary residence. 

In order to receive the full Age Pension, single homeowners cannot own assets valued at $333,000 or more. For non-homeowners, this will be up to $600,000.

Meanwhile, a couple (combined) can own up to $499,000 in value if they own a property, or $766,000 if they don’t.

Again, as with the income test, if you’re over these thresholds, it’s still possible to get some sort of partial payment.

Single Australians who are homeowners can own assets valued up to $733,500, and single non-homeowners can own assets valued up to $1,000,500, and still be eligible for some level of part-payment.

Couples are also entitled to a partial payment, provided their combined assets don’t exceed $1,102,500 for homeowners. Non-homeowners can own assets totalling no more than $1,369,500.

The post Australian Age Pension: Income test, assets test and payment amounts explained appeared first on The Motley Fool Australia.

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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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.