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2 ASX tech shares I’d buy with $1,000

ASX tech shares are going through a rough time and I think now is a really good time to buy shares of Redbubble Ltd (ASX:RBL).

ASX tech shares are going through a rough time and I think now is a really good time to buy shares.

Short term volatility and declines can be concerning. But investing is about the long term and you just have to remember why you invested (or why you’re thinking about investing). It’s not about what happens in May, 2021 or even the next couple of years. It’s the longer-term picture that investors should focus on.

If you’re a prospective investor, then lower prices can be a very good thing.

Redbubble Ltd (ASX: RBL)

Redbubble is one of the most exciting ASX e-commerce shares in my opinion. Yet its share price has been trashed – down almost 40% in just one month.

It’s not like it has lost 40% of its customer base over the last month. It only reported growth was starting to slow and that it was undertaking a high-growth investment strategy. Remember, marketplace revenue grew 54% and gross profit rose 55% in the FY21 third quarter.

Redbubble operates in a scalable industry and it was seeing very good profit growth from its operations. Third quarter EBIT (EBIT explained) rose 91% to a loss of $0.9 million. In the nine months to March 2021, marketplace revenue was up 85%, gross profit was up 100% and operating cashflow was up 800% to $54 million.

If Redbubble keeps investing in efficiency benefits and marketing, the artist product business should be a much bigger and more profitable business in five years. I think this lower price is an attractive time to buy shares.

Cettire Ltd (ASX: CTT)

Cettire is another ASX tech share in the retail space. It’s still relatively unknown because it hasn’t been listed that long. It is a global online retailer of personal luxury goods with over 1,300 luxury brands and over 160,000 products of clothing, shoes, bags and accessories.

It’s generating enormous growth and recently upgraded its sales guidance, which is a good sign.

FY21 third quarter sales revenue was up 331% to $18.5 million. All of the other trends are good too – unique website visits was up 325% to 3.6 million, the conversion rate was up 26% to 1.01% and the number of orders increased 437% to 36,455.

Sales revenue is now expected to be at least $80 million (versus the $70 million prospectus number) and it’s expected to generate positive EBITDA (EBITDA explained), compared to a forecast loss of $2 million.

It has announced buy now, pay later partnerships with both Klarna and Afterpay Ltd (ASX: APT) which may be able to unlock more sales growth for the ASX tech share.

Cettire is one of the fast-growing ASX growth shares that I’ve got my eyes on, among others.

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