A new month is here, so what better time to consider an addition or two to your portfolio.
If you're interested in growth shares then I think the three shares listed below could be worth considering this month. Here's why I like them:
Appen Ltd (ASX: APX)
Appen is a leading developer of high-quality, human annotated datasets for machine learning and artificial intelligence. Its team of experts prepare the data that goes into the artificial intelligence and machine learning models of some the largest tech companies in the world such as Facebook and Microsoft. Demand for its services has been growing very strongly in recent years and looks likely to continue doing so for some time as businesses invest heavily in the space. In light of this, I think it is one of the best buy and hold options on the Australian share market right now.
BetaShares NASDAQ 100 ETF (ASX: NDQ)
Another option for growth investors to consider is the BetaShares NASDAQ 100 ETF. This exchange traded fund allows investors to gain exposure to many of the largest tech companies in the world such as Amazon, Apple, Netflix, and Google parent, Alphabet in a single investment. Given the positive outlooks of these companies, I believe the BetaShares NASDAQ 100 ETF could provide investors with strong returns over the next decade.
NEXTDC Ltd (ASX: NXT)
A final growth share to consider buying is NEXTDC. It is the Asia region's most innovative Data Centre-as-a-Service provider with centres in key locations in many of Australia's capital cities. Its shares have been on fire this year thanks to a strong half year result and a number of positive contract announcements. In respect to the latter, demand has been so strong for its data centres, it has brought forward expansion plans and just announced the construction of a third centre in the Sydney market. I expect the seismic shift to the cloud and increasing data consumption to support strong profit growth for many years to come.
