If you are lucky enough to have $10,000 sitting in your savings account, I would suggest you consider putting it to work in the share market.
Especially after this month's market meltdown which has left a number of high quality shares trading at attractive prices.
But where should you invest these funds? I think one or more of these high quality shares would be great options:
Appen Ltd (ASX: APX)
The first share to consider for the $10,000 investment is Appen. It is the global leader in the development of high-quality, human annotated datasets for machine learning and artificial intelligence (AI). Due to the increasing importance of machine learning and AI for businesses, it has experienced a significant increase in demand for its services over the last few years. This has driven explosive earnings growth. The good news is that spending on machine learning and AI is expected to continue growing significantly over the next decade.
Pushpay Holdings Group Ltd (ASX: PPH)
Another share to consider investing $10,000 into is Pushpay. It is an exciting New Zealand-based donor management platform provider for the faith sector. Although this is a niche market, it is certainly a lucrative one. In the first half of FY 2020, Pushpay recorded revenue of US$57.4 million, which was up 30% on the prior corresponding period. Pleasingly, thanks to the quality of its offering, its large market opportunity, and the acquisition of church management system provider Church Community Builder, I believe it is well-positioned to continue this positive form for many more years to come.
Xero Limited (ASX: XRO)
I think the recent market volatility has created a buying opportunity for investors that are willing to make a long term investment in this cloud-based business and accounting software provider's shares. I believe Xero is one of the highest quality companies on the Australian share market. And although its shares are up materially over the last few years, I am confident they can continue to be market beaters over the next decade thanks to Xero's strong long term growth potential. This is due to the quality, stickiness, and pricing power of its platform and its massive global market opportunity.
