Here’s why I would invest $3,000 into Afterpay Ltd (ASX:APT) and these top ASX growth shares right now…
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If you’re a growth investor, then you might want to take a look at the ASX shares listed below.
I believe these companies are well positioned to grow their earnings at an above-average rate for many years to come.
This could potentially lead to their shares outperforming the market over the long term.
Here’s why I would invest $3,000 into these ASX growth shares once the market reopens:
Afterpay Ltd (ASX: APT)
The first growth share to consider buying is Afterpay. Although its valuation makes it a reasonably high risk option, I believe its exceptionally strong growth potential justifies the premium its shares trade at. I think the payments company is destined for big things due to the continued success of its international expansion and the growing popularity of the payment method with consumers and retailers.
Aristocrat Leisure Limited (ASX: ALL)
Another growth share I would suggest you consider buying is Aristocrat Leisure. This gaming technology company is best known for designing and manufacturing many of the poker machines you’ll find in Crown Resorts Ltd (ASX: CWN) and countless casinos across the world. However, there is more to it than just that. Aristocrat Leisure also has a very lucrative and growing digital business which is generating significant recurring revenues from its millions of daily active users. I believe this side of the business has significant growth potential and could become the company’s biggest earner in the not so distant future.
Cochlear Limited (ASX: COH)
A final growth share to consider buying is Cochlear. I think the hearing solutions company is a great option due to the quality of its products, its strong long term growth prospects, and high level of investment in research and development. I’m confident the latter will help maintain its leadership position and underpin solid earnings growth over the next decade and beyond. Another big positive is its sizeable market opportunity. Management estimates that less than 10% of people who would benefit from an implantable hearing solution have been treated.
These 3 stocks could be the next big movers in 2020
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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’.
*Returns as of 6/8/2020
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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 Cochlear Ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Cochlear Ltd. 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.
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