Although the Australian share market is closing in fast on a record high, I don't believe for a second that it is too late to invest.
Especially with rates at a record low and tipped to go even lower in the coming months.
With that in mind, if I had $5,000 gathering only paltry interest in a savings account, I would consider putting it to work in one of these top ASX shares:
Cochlear Limited (ASX: COH)
One of my favourite growth shares on the local share market is this leading developer, manufacturer, and distributor of cochlear implantable devices for the hearing impaired. Cochlear has been growing its earnings at an impressive rate for the last decade and looks well-positioned to continue the trend for the foreseeable future thanks to its leading position in a market growing strongly thanks to the ageing population tailwind.
Domino's Pizza Enterprises Ltd (ASX: DMP)
Although I have a few concerns over this pizza chain operator's near term outlook, I believe it could be a quality long term investment thanks to its expansion plans. These plans will almost double its store footprint over the next seven years and should underpin strong earnings growth. Furthermore, with its shares trading close to a multi-year low, I feel the majority of the bad news has already been baked into its share price.
WiseTech Global Ltd (ASX: WTC)
WiseTech Global is a logistics solutions company which has quickly become an integral part of the the global supply chain thanks to its CargoWise One platform. CargoWise One is a single-platform software solution which is being used by 12,000 logistics organisations across 130 countries. This includes 38 of the top 50 global third-party logistics providers and all the 25 largest global freight forwarders worldwide. This year the company expects to achieve full year revenue in the range of $326 million to $339 million, which will be a year on year increase of between 47% and 53%. I feel it is well-placed to continue this strong growth for a number of years to come.
