A new month is on the horizon, so what better time to see if your portfolio could do with some new additions.
Below I have picked out 10 quality ASX shares which I think have the potential to be market beaters in the coming years. Here's why I would buy them in June:
a2 Milk Company Ltd (ASX: A2M)
I continue to believe that a2 Milk Company would be a great ASX share to own. This is largely down to the increasing demand for its infant formula in China and its relatively modest market share in the lucrative market.
Altium Limited (ASX: ALU)
Altium is an award-winning printed circuit board (PCB) design software provider. Over the last few years it has carved out a leading position in this growing market. Which is a big positive given the proliferation of electronic devices. This is likely to lead to increasing demand for its software over the next decade.
Appen Ltd (ASX: APX)
Another ASX share to consider is Appen. It is a leading developer of high-quality, human annotated datasets for machine learning and artificial intelligence (AI). Appen prepares or creates the data for the machine learning models of some of the largest tech companies such as Facebook and Microsoft. It also assisted in the creation of Apple's Siri.
Aristocrat Leisure Limited (ASX: ALL)
This gaming technology company's shares have fallen heavily this year due to the pandemic. The good news is that casinos are now starting to reopen, which should lead to a rebound in demand for its poker machines. In addition to this, its Digital business has been booming during lockdowns and is generating material recurring revenues.
CSL Limited (ASX: CSL)
I think this biotherapeutics giant could be a great long term option. I continue to believe CSL will be a market beater over the next decade. This is thanks to the increasing demand for immunoglobulins, its growing plasma collection network, and its pipeline of potentially lucrative products.
Kogan.com Ltd (ASX: KGN)
This ecommerce company's shares have been on fire over the last couple of months thanks to a spike in sales and customer growth during the pandemic. Despite this, I would still be a buyer of its shares with a long term view. Especially given how the crisis appears to have accelerated the structural shift to online shopping.
Megaport Ltd (ASX: MP1)
Megaport is an elasticity connectivity and network services company. Its increasingly popular service allows users to increase and decrease their available bandwidth in response to their own demand requirements. This is instead of a user being tied to a fixed service level on long-term and expensive contracts. Demand for its service has been growing very strongly, leading to stellar recurring revenue growth.
Nanosonics Ltd (ASX: NAN)
Another ASX share to consider is Nanosonics. It is an infection control specialist which I believe has exceptionally strong growth potential. This is due to the sizeable market opportunity of its industry-leading trophon EPR disinfection system for ultrasound probes and the impending release of new products. These products are targeting other unmet needs in a market which infection control is becoming increasingly important.
Pushpay Holdings Group Ltd (ASX: PPH)
Pushpay is a fast-growing donor management platform provider for the faith and not-for-profit sectors. It has been growing its earnings at a rapid rate over the last couple of years and recently provided guidance for more strong growth in FY 2021. Looking further ahead, it is targeting a 50% share of the medium to large church market. This is a US$1 billion opportunity and many multiples of its current revenue.
ResMed Inc. (ASX: RMD)
A final ASX share to buy is ResMed. It is a medical device company with a focus on the sleep treatment market. I believe it is in a strong position for growth due to its industry-leading products and massive market opportunity. Management estimates that there are ~1 billion people suffering from sleep apnoea worldwide. However, only ~20% of these sufferers have been diagnosed.
