Are Macquarie, Qantas, and WiseTech shares buys?

Macquarie Group Ltd (ASX: MQG), Qantas Airways Ltd (ASX: QAN), and WiseTech Global Ltd (ASX: WTC) have all given investors plenty to think about recently.

But are they buys at current prices? Here's what I think of all three blue-chips.

Macquarie shares

Macquarie tends to be at its best when the world is changing and large amounts of capital need to find a home.

Governments and businesses need funding for infrastructure, energy systems, technology, transport, and other major projects.
Investors also want access to private markets and real assets that can provide returns beyond traditional shares and bonds.

I like that Macquarie can participate from several directions. It can manage assets, advise on transactions, arrange financing, trade commodities, and invest alongside clients.

That range has allowed the company to keep evolving as opportunities move between markets.

Its earnings can be uneven because activity in commodities, asset sales, and corporate transactions changes from year to year. Even so, I think its global expertise, relationships, and ability to deploy capital across changing conditions make it a strong long-term buy.

Qantas shares

I have no interest in pretending airlines are easy investments.

Fuel prices, competition, industrial action, weather, economic conditions, and operational problems can all disrupt a carefully prepared forecast.

Qantas still attracts me because it has several advantages that would be extremely difficult for a new competitor to reproduce.

Its domestic network, airport slots, brand, Jetstar operations, and frequent flyer ecosystem have been built over decades. The loyalty business is especially appealing because it earns money through credit cards, retail partnerships, points, and travel rewards without relying entirely on aircraft flying at full capacity.

Fleet renewal could shape the next stage of the story. New aircraft should support better fuel efficiency, improved reliability, new routes, and a stronger passenger experience, although the investment required will be substantial.

I would approach Qantas with realistic expectations and accept that sentiment can turn quickly. At the right position size, I think the company's competitive strengths and multiple earnings streams make the shares a buy.

WiseTech shares

WiseTech is the share I would handle most carefully, although it may also have the greatest upside if execution improves.

Global trade still runs through a maze of customs rules, freight companies, warehouses, ports, documents, and regulatory systems. CargoWise helps logistics businesses bring much of that complexity into one platform.

Once software becomes embedded across daily operations, replacing it can be expensive and disruptive. That gives WiseTech the chance to deepen customer relationships and keep expanding recurring revenue.

The e2open acquisition and greater use of artificial intelligence could widen the opportunity significantly. WiseTech wants to connect more participants across global trade while automating labour-intensive logistics workflows.

It is important to remember that investor confidence has been damaged by governance concerns, leadership questions, and uncertainty around integration. Those issues probably justify a measured position.

After the heavy share price decline, I think the balance between risk and reward has become far more attractive. WiseTech shares are a buy for me, although I would expect plenty of volatility.

Foolish takeaway

I would buy all three shares, although I think the strongest case appears when looking several years ahead rather than focusing on the next result.

Macquarie, Qantas, and WiseTech have all spent years building capabilities that would be difficult for a rival to reproduce quickly. That gives them room to keep adapting, even when earnings, sentiment, or execution become less predictable.

There will be periods when confidence weakens and the share prices test investors' patience. At sensible position sizes, I think the long-term opportunity is attractive enough to justify buying all three today.

The post Are Macquarie, Qantas, and WiseTech shares buys? appeared first on The Motley Fool Australia.

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

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2026