The Motley Fool

3 top ASX growth shares to buy with $3,000

If you’re looking to make a long term investment in a collection of ASX growth shares, then the three listed below could be worth considering.

I believe all three have the potential to deliver returns that smash the market over the next decade. Here’s why I would invest $3,000 into them:

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

The first option for growth investors to consider buying is the BetaShares Asia Technology Tigers ETF. This exchange traded fund provides investors with exposure to a number of exciting tech shares in the Asian market. These include the likes of ecommerce giants Alibaba and JD.com, search engine company Baidu, and new Afterpay Ltd (ASX: APT) shareholder and WeChat owner, Tencent. Given how these companies are revolutionising the lives of billions of people in the region, I believe they are well-positioned for strong growth over the next decade.

Cochlear Limited (ASX: COH)

Another ASX growth share to consider buying is Cochlear. I like this hearing solutions company due to its exposure to the ageing populations tailwind. As people age, their hearing will often fade and require some form of assistance. I expect this to lead to increasing demand for hearing solutions products over the next couple of decades. Given Cochlear has industry-leading products and a wide distribution network, I expect it to benefit greatly from this.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

Another top ASX growth share to buy could be Domino’s Pizza. I believe the pizza chain operator is well positioned to deliver more than just pizzas over the next decade. I expect a helping of strong returns as well. Especially given its same store sales and store expansion goals. Over the next five years the company is aiming to deliver annual same store sales growth of 3% to 6% and annual organic new store additions of 7% to 9%. If it can maintain its margins, this should support strong earnings growth over the next decade.

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 Cochlear Ltd. The Motley Fool Australia owns shares of and has recommended BetaShares Asia Technology Tigers ETF. The Motley Fool Australia has recommended Cochlear Ltd. and Domino's Pizza Enterprises Limited. 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.

Related Articles...