I think there are a large number of growth shares trading on the Australian share market which would be great long-term investments.
Three stellar growth shares that I would buy this month are listed below. Here's why I like them:
Appen Ltd (ASX: APX)
I think that Appen is one of the best growth shares on the Australian share market and a fantastic long-term investment option. Appen is the global leader in the development of high-quality, human annotated datasets for machine learning and artificial intelligence. So with the artificial intelligence market expected to grow significantly over the next few years and be worth upwards of US$191 billion by 2025, I think the company is well-positioned to continue its strong growth for a long-time to come.
ResMed Inc (ASX: RMD)
One of my favourite growth shares on the local market is ResMed. It is a developer of products that treat sleep apnoea, COPD and other chronic respiratory diseases. I'm a big fan of the company due to its leading position in a sleep treatment market which is tipped to grow strongly over the next decade. I believe this has positioned it perfectly to deliver above-average earnings growth for the foreseeable future.
Treasury Wine Estates Ltd (ASX: TWE)
Although news that its CEO had sold a large number of shares was disappointing, it is worth remembering that he still has plenty of skin in the game. So I would suggest investors look past this and focus on the company's strong growth potential thanks to the increasing demand for its products in Asia. In the first half of FY 2019 the company delivered a 19% lift in EBITS to $338.3 million. This puts the company on track to meet its guidance for approximately 25% EBITS growth for the full year. After which, management expects to grow its earnings by between 15% to 20% in FY 2020.
