If you're a growth investor then you're in luck. This is because the Australian share market is home to a large number of quality shares that have the potential to grow very strongly in the coming years.
And thanks to recent pullbacks in their respective share prices, they are trading at a deep discount to what you would have paid two months ago.
Five top growth shares I would buy right now are listed below:
Afterpay Ltd (ASX: APT)
Due to the increasing popularity of its buy now pay later platform, I believe this payments company could be a strong performer again in 2020. Especially given the incredible active customer growth it is experiencing in the United Kingdom and United States markets.
Altium Limited (ASX: ALU)
Thanks to its key Altium Designer product and its exposure to the rapidly growing Internet of Things market, I believe Altium can grow its revenue and earnings at a very strong rate over the next few years. Combined with its other growing businesses, I believe it is well-positioned to achieve its revenue target of US$500 million by FY 2025.
Appen Ltd (ASX: APX)
Another quality growth share to consider buying right now is Appen. It is a fast-growing developer of high-quality, human-annotated training data for machine learning and artificial intelligence. Given how these markets are forecast to grow materially over the next decade or two, I'm confident it will continue its impressive form for many years to come.
ResMed Inc. (ASX: RMD)
Another option is ResMed. It is a medical device company focused on the growing sleep treatment market. Thanks to its industry-leading products and massive addressable market due to the proliferation of sleep apnoea, I expect it ResMed to be a market beater over the next decade.
Xero Limited (ASX: XRO)
A final option is Xero. It is a cloud-based business and accounting software provider with enormous potential. This is due to its high quality product in a market which continues to grow in size due to the shift to online accounting.
