5 Best ASX Stocks to Buy Heading into 2023

In this article, we discuss 5 best ASX stocks to buy heading into 2023. If you want to see more best ASX stocks to buy, the risk/reward, and methodology of this list, go directly to 10 Best ASX Stocks to Buy Heading into 2023.

5. Woolworths Group Limited (ASX:WOW.AX)

Market Capitalization as of 12/6 in Australian Dollars: 42.297 billion

Woolworths Group Limited (ASX:WOW.AX) is a leading food and general merchandise retailer in Australia with a market capitalization of A$42.297 billion as of 12/6. Although its shares have rallied from under A$25 in 2012 to A$34.23 now, the stock has declined 11.05% year to date given inflation and other headwinds. In the first quarter for financial year 2023, Woolworths Group Limited (ASX:WOW.AX)’s food business sales were below the prior year given COVID-related restrictions. E-commerce sales were also lower. In the long term, there’s still potential for growth if Woolworths Group Limited (ASX:WOW.AX) maintains its market share, however.