The Australian share market is home to thousands of companies for investors to choose from.
Given the large number of options, it can be hard to decide which ones to add to your portfolio.
To help you on your way, I have picked out 10 of the best ASX shares I think you can buy now. They are as follows:
a2 Milk Company Ltd (ASX: A2M)
a2 Milk Company is a leading fresh milk and infant formula company. While FY 2021 looks set to be a rare off-year because of negative impacts from the pandemic, I believe it will bounce back strongly in FY 2022. Looking further ahead, I think it has the opportunity to grow its market share materially in China. This should underpin solid earnings growth over the 2020s.
Altium Limited (ASX: ALU)
Another option for investors is Altium. It is the electronic design software platform provider responsible for the award-winning Altium Designer product. Due to its exposure to the rapidly growing Internet of Things and AI markets, I believe it is well-placed for long term growth.
I think Afterpay would be an ASX share to consider buying with a long term view. Thanks to its international expansion and the increasing popularity of the buy now pay later payment method, I believe Afterpay can continue growing its underlying sales at a rapid rate for the foreseeable future.
Appen is a leading developer of high-quality, human-annotated training data for machine learning and artificial intelligence. Given the size of these markets and their rapid growth, I believe Appen is likely to experience a sustained increase in demand over the next few years. This should underpin solid earnings growth over the medium term.
Bravura Solutions Ltd (ASX: BVS)
Bravura Solutions is the financial technology company behind the Sonata wealth management platform. This platform allows financial advisers to connect and engage with clients via computers, tablets, or smartphones. It also has a number of other solutions with large addressable markets.
Due to the quality of its core plasma business, the growing Seqirus influenza business, and its lucrative R&D pipeline I believe CSL could be a long term market-beater. And while plasma collections are difficult right now and could weigh on costs, I’m optimistic that heightened demand for flu vaccines will offset some of this. All in all, I believe this makes it an ASX share to buy.
Goodman Group is a commercial and industrial property company which I think would be a great long term option. I’m a big fan of the company due to the strength of its portfolio and its exposure to growth markets such as ecommerce. Goodman’s customers include Alibaba, Amazon, DHL, eBay, and Net a Porter.
Pushpay Holdings Ltd (ASX: PPH)
One of my favourite ASX shares right now is Pushpay. It is a fast-growing donor management and community engagement provider to the church market. Thanks to the quality of its platform, its leadership position, and the shift to a cashless society, I’m confident Pushpay will continue its rapid growth for the foreseeable future.
Another ASX share I’m bullish on is ResMed. It is a sleep treatment focused medical device company which has an enormous market opportunity. Management estimates that upwards of 1 in 7 people are impacted by sleep apnoea. However, the vast majority of these sufferers are undiagnosed. I believe this provides ResMed and its industry-leading products with a significant runway for growth.
A final option to buy is this cloud-based business and accounting software provider. Over the last few years Xero has evolved from being an accounting platform to a complete small business solution. This has been attracting a growing number of small to medium sized businesses to its platform, underpinning strong revenue growth. I’m confident there is still plenty more to come from Xero.
This Tiny ASX Stock Could Be the Next Afterpay
One little-known Australian IPO has doubled in value since January, and renowned Australian Moonshot stock picker Anirban Mahanti sees a potential millionaire-maker in waiting...
Because 'Doc' Mahanti believes this fast-growing company has all the hallmarks of genuine Moonshot potential, forget 'buy now pay later', this stock could be the next hot stock on the ASX.
Doc and his team have published a detailed report on this tiny ASX stock. Find out how you can access what could be the NEXT Afterpay today!
Returns as of 6th October 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 and recommends Altium. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd., PUSHPAY FPO NZX, and Xero. The Motley Fool Australia owns shares of and has recommended A2 Milk and Bravura Solutions Ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO and Appen Ltd. The Motley Fool Australia has recommended PUSHPAY FPO NZX and ResMed Inc. 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.
- 4 outstanding ASX 200 shares to buy with $4,000 – October 31, 2020 4:30pm
- 2 top ASX tech shares to buy after the recent market turmoil – October 31, 2020 2:30pm
- Is the Adore Beauty (ASX:ABY) share price in the buy zone? – October 31, 2020 12:00pm