If I had $2,000 to spend on ASX shares today, I would look for a company that I feel is 'unstoppable'. Some ASX companies just seem to thrive no matter the environment. 2020 has brought its fair share of challenges, but some companies have shown the ability to thrive amidst the chaos. These are the kind of businesses I like to see in my portfolio. So here are 2 'unstoppable' ASX shares that I would happily spend $2,000 on today.
2 unstoppable ASX shares for $2,000 today
Fortescue Metals Group Limited (ASX: FMG)
Iron miner Fortescue is the first ASX share I believe is unstoppable. Fortescue has grown tremendously over the past decade to become one of the ASX's largest companies. Today, the Fortescue share price stands at $16.62 (at the time of writing). That's not quite at the company's 52-week (and all-time) high of $19.56, but that just means we can pick up the shares for a cheaper price.
Although Fortescue is inherently a cyclical company due to its mining nature, I think its efficiency and lean operational structure mean it is a worthy investment today. Yes, iron ore prices are historically high right now (at roughly US$123 per tonne at the time of writing). But since it costs Fortescue between US$12 to $13 to extract and process one tonne of ore, there is plenty of padding here to absorb an iron ore pricing collapse, if that eventuates. Thus, the 'unstoppable' moniker applies well here in my view.
On current prices, Fortescue shares also offer a whopping trailing dividend yield of 10.59%, which also comes fully franked. Weighing all these factors up, I think Fortescue is a great buy today with $2,000.
Afterpay Ltd (ASX: APT)
If there is one company on the ASX we could apply the 'unstoppable' tag to, it's this one. Afterpay is truly one of the most gravity-defying shares I've ever come across. Anyone who's ever bet against this company, or held off from buying shares, is probably regretting their decision today. At the time of writing, Afterpay is going for $94.46 a pop. That's just a touch below the company's all-time high of $96.08, which was also recorded just yesterday.
That means anyone who picked up Afterpay for around $8 back in March (read it and weep) is looking at gains of more than 1,000% today.
Despite this incredible run up, I think Afterpay is another ASX share worthy of consideration for a $2,000 investment today. This company simply can't be put in the corner. It managed to grow its earnings by 74% in FY2020, and will probably throw up an equally-impressive number in FY2021 in my view. Although the Afterpay share price looks expensive today, I would still consider this company one of the most unstoppable shares on the ASX, and would thus be willing to look past today's share price.
