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Where I would invest $1,000 in ASX shares today

When you’re new to investing you may not have a substantial amount of funds to sink into the market.

But I wouldn’t let that put you off. After all, even an investment of $1,000 has the potential to grow significantly over the long-term.

With that in mind, here are three shares that I think would be great long-term options for investors:

Altium Limited (ASX: ALU)

One quality option for a $1,000 investment could be this leading printed circuit board (PCB) design software company. I believe it could generate very strong returns over the long term given its leadership position in a market exposed to the rapidly growing Internet of Things boom. In addition to its core business, I believe the company’s Octopart search engine business has significant potential and could underpin strong profit growth.

Nanosonics Ltd (ASX: NAN)

Another good option could be Nanosonics. It is the leading infection control specialist behind the trophon EPR disinfection system for ultrasound probes. As this system is regarded as the best in its class, I believe it is well-placed to continue capturing a growing share of a massive global market. This is good for two reasons. One is the revenue from their sales, the other is the recurring revenues generated from the consumables they require. Another bonus is the upcoming launch of new products which look set to give its growth a further boost.

ResMed Inc. (ASX: RMD)

A third share to consider investing $1,000 into is ResMed. It is a sleep treatment-focused medical device company which I believe is well-positioned for long-term growth. This is because of the growing demand for sleep treatment products due to the increasing number of sleep apnoea sufferers globally. I feel it is particularly well-placed to profit from this trend given the quality of its products and its wide distribution network.

5 stocks under $5

We hear it over and over from investors, "I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I'd be sitting on a gold mine!" And it's true.

And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!

*Extreme Opportunities returns as of June 5th 2020

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 Altium and Nanosonics Limited. The Motley Fool Australia has recommended Nanosonics Limited 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.

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