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3 growth shares I would buy after today’s market rout

The Australian share market has followed the lead of U.S. markets and sunk lower once again this morning.

Whilst this is clearly a disappointing decline, I do believe it is largely unwarranted and expect the Australian share market to rebound in the coming days.

Because of this, I think when the dust settles investors ought to consider picking up some top growth shares that have been hit hard by the market rout.

Three that I would consider are as follows:

A2 Milk Company Ltd (ASX: A2M)

In early trade the shares of this infant formula and dairy company are down 5%. I think the sell-off of a2 Milk Company’s shares has been unnecessary and that now could be a good time to consider making an investment if you previously felt as though you’d missed the boat. After all, with demand for its infant formula products growing strongly in China and recent regulatory changes supporting this growth, I believe the company can continue to win market share and deliver above-average earnings growth for the foreseeable future.

Altium Limited (ASX: ALU)

The shares of this printed circuit board (PCB) design software provider are off 2% in morning trade. I’m a huge fan of Altium and believe the Internet of Things market will provide it with significant long-term growth because the majority of connected devices require PCBs inside them. In light of this, today’s decline could be a buying opportunity for patient investors that are willing to make a buy and hold investment.

Nextdc Ltd (ASX: NXT)

This data centre operator has seen its share price tumble by around 3% during morning trade. Whilst this decline doesn’t necessarily make NEXTDC’s shares cheap, I do think it makes them a touch more reasonable. And considering the incredible demand for data centre services and its portfolio of world-class centres, I think the company is in a strong position to grow at a rate that easily justifies the premium its shares trade at.

Finally, these three top shares also just got cheaper today and look even more attractive.

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Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia owns shares of A2 Milk and Altium. 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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