If you're looking for investment ideas, then I think the mid cap side of the market is a great place to start. This is because I believe there are a number of companies that have the potential to grow at a strong rate over the next decade and provide market-beating returns for investors.
Two top mid cap ASX shares to consider are listed below. Here's why I like them:
Megaport Ltd (ASX: MP1)
The first mid cap ASX share to look at is Megaport. It is an elasticity connectivity and network services company. This service allows its customers to increase and decrease their available bandwidth in response to their own demand requirements. This means that users can consume the bandwidth they need when they need it, rather than be tied to fixed service levels on long-term and expensive contracts. Demand has been exceptionally strong for Megaport's services this year, thanks to the accelerating shift to the cloud. The good news is that more and more computer infrastructure is expected to go from local servers to cloud providers like Microsoft's Azure, Amazon's AWS, and Google Cloud in the future. I believe Megaport is well-placed to benefit from this trend.
Pro Medicus Limited (ASX: PME)
Another mid cap ASX share that I think investors should consider is Pro Medicus. It is a leading provider of a full range of radiology IT software and services to hospitals, imaging centres, and healthcare groups worldwide. One key product in its portfolio is the Visage 7 Enterprise Imaging Platform. Management notes that it enables imaging organisations to do things they have always wanted to do, but never could. It offers immediate differentiation for imaging organisations seeking to leapfrog the status quo of commoditised legacy PACS. Given the quality of its products and its sizeable market opportunity, I believe Pro Medicus is capable of growing its earnings at an above average rate over the next decade.
