Insights

3 outstanding ASX growth shares to buy after the market selloff

Here’s why I would be buying Altium Limited (ASX:ALU) and these ASX growth shares after the market selloff…
The post 3 outstanding ASX growth shares to buy after the market selloff appeared first on Motley Fool Australia. –

3 asx shares to buy depicted by man holding up hand with 3 fingers up

While the market volatility this week has been disappointing, every cloud has a silver lining.

The silver lining in this selloff is the pullback in the share prices of some quality growth shares.

Three ASX growth shares that I would buy after the selloff are listed below:

Altium Limited (ASX: ALU)

The Altium share price is now trading approximately 12% lower than its 52-week high. I think this could make it a good time to buy the electronic design software platform provider’s shares. Especially given its outstanding long term growth potential thanks to its exposure to the rapidly growing Internet of Things and AI markets. These are driving strong demand for its Altium Designer software and also its other businesses such as Octopart and NEXUS.

Appen Ltd (ASX: APX)

Another growth share to buy is this leading developer of high-quality, human-annotated training data for machine learning and artificial intelligence. The Appen share price is currently trading 23% lower than its 52-week high. And while this means it is still trading at a premium to the market average, I believe it is great value considering its growth potential. I’m confident Appen can grow its earnings at a strong rate over the 2020s thanks to its leadership position in a market growing very quickly.

Xero Limited (ASX: XRO)

A final growth share to buy is this cloud-based business and accounting software provider. The Xero share price hasn’t fallen back as much as the rest from its 52-week high. However, a 7% discount to what some investors were willing to pay less than a couple of weeks ago seems like a good deal to me. Especially if you’re planning to make a buy and hold investment. Due to the quality of its platform, its stickiness, and its successful evolution into a full-service small business solution, I believe Xero is well-placed for solid growth over the next decade.

Where to invest $1,000 right now

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.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

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’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd., PUSHPAY FPO NZX, and Xero. The Motley Fool Australia owns shares of and has recommended A2 Milk and Bravura Solutions Ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO and Appen Ltd. The Motley Fool Australia has recommended PUSHPAY FPO NZX and ResMed Inc. 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 3 outstanding ASX growth shares to buy after the market selloff 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!