MENU

Why these top growth shares are on my shopping list

Yesterday the latest Westpac Banking Corp (ASX: WBC) weekly economic report was released and once again the banking giant’s economics team has held firm with their cash rate forecast.

According to the report, Westpac expects the Reserve Bank to hold the cash rate at the record low of 1.5% until at least December 2020.

In light of this, I would much rather put my money to work in the share market than have it sitting in a bank account earnings just paltry interest.

With that in mind, here are two growth shares that I would consider buying this week:

Appen Ltd (ASX: APX)

Appen is a global leader in the development of high-quality, human annotated datasets for machine learning and artificial intelligence. Earlier this month the company revealed that it has been experiencing stronger than expected demand for its services in recent months. As a result, it upgraded its guidance for underlying EBITDA for the 12 months ending December 31 to be in the range of $62 million to $65 million. This will be a 120% to 131% increase on FY 2017’s result. While I expect this level of growth to moderate over the coming years, I believe the strong growth that is expected in machine learning and artificial intelligence markets will allow it to still grow earnings at a strong rate for the foreseeable future.

Aristocrat Leisure Limited (ASX: ALL)

One of my favourite growth shares on the Australian share market would have to be Aristocrat Leisure. As well as benefiting from winning a greater share of the pokie machine market, the company looks set to be a big winner from the growing digital and social gaming market. Its Digital segment has been generating significant recurring revenues and looks set to be a key driver of growth over the next few years. This could make it a bit of a bargain at just 23x estimated FY 2018 earnings. However, with its results due to be released on Thursday, investors may want to play it safe and wait for those before making an investment.

In the meantime, here are three more buy-rated growth shares to consider picking up this week.

Top 3 ASX Blue Chips To Buy For 2019

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2019."

Each one pays a fully franked dividend. The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of Appen 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.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!