2 stunning ASX growth shares to buy and hold

Here’s why Afterpay Ltd (ASX:APT) and this ASX growth share could be top long term options for Australian investors…
The post 2 stunning ASX growth shares to buy and hold appeared first on Motley Fool Australia. –

man holding light bulb next to growing piles of coins

Are you looking for growth shares that you can buy and hold? Then you might want to consider the two listed below.

I believe both have the potential to grow very strongly over the next decade and could provide market-beating returns for investors.

Here’s why I would buy these stunning ASX growth shares:

Afterpay Ltd (ASX: APT)

The first growth share I would buy is Afterpay. I think the buy now pay later giant would be a quality long term option thanks to its leading position in an industry growing rapidly. More and more consumers, particularly younger ones, are turning away from credit cards in favour of buy now pay later products. And while this has unsurprisingly led to increasing competition in the industry, I believe Afterpay’s first-mover advantage and strong brand have given it an almost unassailable lead. 

Another positive is that despite Afterpay’s incredible growth over the last few years, it is still barely even scratching at the surface of its overall market opportunity. The company has a $5 trillion opportunity in the United States market and has recently announced plans to expand into Europe and test the waters in Asia. If everything goes to plan, I believe Afterpay has the potential to become a giant of the payments industry in the future.

Appen Ltd (ASX: APX)

Another stunning ASX growth share that I would buy is Appen. It is the global leader in the development of high-quality, human-annotated training data for machine learning and artificial intelligence. It has over 1 million crowd-sourced workers globally collecting and labelling high volumes of image, text, speech, audio, and video data. This data is then used to build and improve artificial intelligence models.

Artificial intelligence is arguably the next big thing in technology. Unsurprisingly, this means that billions and billions of dollars are being invested into the space by businesses and governments. This bodes very well for Appen, given its leadership position in its field. As a result, I believe it is perfectly positioned to continue growing its earnings at a strong rate long into the future.

These stocks could rocket in a Post-COVID world (FREE STOCK REPORT)

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

Find out the names of our 3 Post COVID Stocks – For FREE!

*Returns as of 6/8/2020

More reading

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Altium. The Motley Fool Australia owns shares of and has recommended PUSHPAY FPO NZX. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post 2 stunning ASX growth shares to buy and hold appeared first on Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!