If you’re a growth investor then you might want to take a look at the ASX shares listed below.
I believe all three are well-placed to grow at a strong rate over the next decade. Here’s why:
Aristocrat Leisure Limited (ASX: ALL)
The first ASX growth share to consider buying is this gaming technology company. Although it looks likely to experience a short term reduction in demand for its poker machines due to the pandemic, I expect it to rebound once the pandemic passes and casinos reopen as normal. In the meantime, the company’s social and mobile gaming apps continue to perform strongly during the crisis. If it can retain these users when casinos reopen and business returns to normal, I feel Aristocrat Leisure’s growth could accelerate over the coming years.
Another growth share to consider buying is Nearmap. I think the leading aerial imagery technology and location data company can grow materially over the next decade. This is due to the large and growing global market for location intelligence data sets derived from aerial imagery and its leading position within it. Management expects the global aerial imagery market to be worth US$10.1 billion in 2020. Pleasingly for Nearmap, this market is highly fragmented, which I feel puts Nearmap in a great position to capture a growing slice of it in the future.
A final growth share to consider buying is Zip Co. It is one of the ANZ region’s leading buy now pay later providers but also has operations in South Africa and the UK. And should the acquisition of QuadPay complete successfully, it will soon be expanding into the massive United States. Management notes that this market is worth $5 trillion a year. If the company can make a success of this expansion, it could be destined for further explosive growth over the coming years.
Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.
*Returns as of 6/8/2020
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 Nearmap Ltd. and ZIPCOLTD FPO. The Motley Fool Australia has recommended Nearmap Ltd. 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.
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