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Where to invest $20,000 into ASX shares immediately

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At the weekend I looked at how $20,000 investments fared in a number of popular ASX shares over the last 10 years. You can read about their impressive returns here.

But that was then and this is now. Which shares should you invest $20,000 into today?

I have picked out two ASX shares that I think could be great places to invest these funds:

Appen Ltd (ASX: APX)

The first ASX share to consider investing $20,000 into is Appen. It is the leading developer of high-quality, human annotated datasets for machine learning and artificial intelligence (AI). Through its million-strong crowd-sourced team of experts, it prepares the data for the models of some of the world’s biggest tech companies. This includes the likes of Amazon, Apple, Microsoft, and Facebook.

Pleasingly, demand for AI services is expected to grow strongly over the next decade as companies invest heavily in the space. I believe this bodes well for Appen and expect it to underpin strong earnings growth over the next decade and beyond. In light of this, I believe the Appen share price could be a market beater over the next decade.

CSL Limited (ASX: CSL)

I think this biotherapeutics giant CSL would be a great option for a long term $20,000 investment. This is due to its very positive outlook thanks to its high quality CSL Behring and Seqirus businesses. I believe these businesses are well-placed to underpin consistently solid sales and earnings growth over the 2020s.

This is thanks to their leading products and extremely lucrative research and development (R&D) pipelines. In respect to the latter, in FY 2020 CSL invested a massive US$922 million into its R&D activities. This was an increase on US$832 million a year earlier and in line with its normal investment of ~10% to 11% of revenue. I believe these investments will allow the company to maintain its market-leading position for a long time to come. As a result, I expect the CSL share price to continue its positive run for the foreseeable future.

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 15/2/2021

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 CSL Ltd. The Motley Fool Australia owns shares of Appen 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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