Have you got $20,000 to invest right now?
Lucky you! It's nice to have some spare cash to buy ASX stocks, as there are always great opportunities available.
If I had that sort of money, here are two best shares I would buy at the moment:
Image source: Getty Images
Margin up, competitor down
I already own Resmed CDI (ASX: RMD) but would be tempted to buy more at the moment.
Last year, the healthcare stock fell off a cliff after investors panicked over the impact of new GLP-1 weight loss drugs on obesity.
While a reduction in obesity is a wonderful development for the world, the market worried that it would also reduce the incidences of sleep apnoea, which ResMed's products treat.
Many investment and medical experts at the time declared that the panic was overdone, and they were proven to be correct.
According to a Blackwattle memo to clients, ResMed's business update last month presented "data showing no negative sales impacts from GLP1 weight loss drug usage".
If anything, such treatments could be complementary.
"[ResMed's update] highlighted the benefits of combining those drugs with CPAP devices to address sleep apnoea."
The other tailwind for ResMed was the continued struggles for its biggest rival Koninklijke Philips NV (AMS: PHIA), who suffered a product safety recall a few years back.
"Philips agreed on a consent decree with the FDA, which effectively prohibits it from selling new devices in the USA in the immediate future."
The January update also showed fatter margins, which was the other major concern back in the August reporting season.
"The company reported improved gross margins following price increases, lower freight costs, currency movements and a favourable mix shift towards its new AirSense 11 product."
The best shares among small caps
In the small cap end of the market, Camplify Holdings Ltd (ASX: CHL) is looking good to me ahead of its report on Wednesday.
The $170 million company provides a technology platform for owners of caravans and motorhomes to lend out their recreational vehicles when they're unused.
The startup began in Newcastle NSW but has now expanded globally, to places like New Zealand, the UK, Spain, Germany, Netherlands and Austria.
A holding company of Citigroup Inc (NYSE: C) is Camplify's biggest shareholder, owning about 13.4% of the shares.
Camplify has put a smile on investor faces in recent times, soaring 35% over the past 10 months.
While it's not yet profitable, the business reported a 133% boost in revenue for the 2023 financial year.
