If you’re a growing investor, you’re in luck. In fact, the Australian stock market is home to a large number of quality stocks which are likely to grow very strongly in the coming years.
And thanks to the recent declines in their respective prices, they are trading at a significant discount compared to what you would have paid two months ago.
The top five most important growth stocks I would buy right now are listed below:
Due to the growing popularity of its now paying purchase platform later, I think this payment company could once again perform well in 2020. Especially given the incredible growth in active customers it knows about the United Kingdom and United States markets.
With its key product Altium Designer and its exposure to the booming Internet of Things market, I think Altium can grow its revenues and profits at a very rapid pace over the next few years. Combined with its other growing businesses, I think it is well positioned to reach its turnover target of US $ 500 million by 2025.
Appen is another part of quality growth to consider now. He is a fast-growing developer of high-quality, human-annotated training data for machine learning and artificial intelligence. Given the expected growth of these markets over the next decade or two, I am confident that it will maintain its impressive shape for many years to come.
Another option is ResMed. It is a medical device company focused on the growing market for sleep treatments. With its cutting edge products and its massive addressable market due to the proliferation of sleep apnea, I expect ResMed to be a market drummer over the next decade.
A final option is Xero. It is a cloud-based business and accounting software provider with huge potential. This is due to its high quality product in a market that continues to grow in size due to the move to online accounting.
And here’s another share of exciting growth who was tipped to have a great future. This is due to the fact that it is perfectly positioned to benefit from the next 5G boom.
Forget the dot-com boom. It could be 40 times better.
Our experts believe that 5G is one of the biggest technological advances since the birth of the Internet. And this year… we could see an attack by new wealth creation opportunities it could be bigger than the dot-com boom.
In our NEW REPORT we have identified a company under the Melbourne radar that we believe has cleverly positioned to take advantage of the 5G revolution. It’s a company that partners with major global brands such as Disney and Qantas, but you rarely hear about it …
This stock could be our next “Moonshot” multi-bagger, like when we chose Elmo Software – up 133%. Or Megaport, a Brisbane small cap stock that is now up 180%.
Find out the names of this 5G stock and four others in our brand new 5G report.
Click here to find out more!
As of 04/07/20
Motley Fool contributor James Mickleboro has no position in any of the titles mentioned. The Motley Fool Australia holds shares in AFTERPAY T FPO, Altium, Appen Ltd and Xero. The Motley Fool Australia recommended ResMed Inc. We fools may not all have the same opinions, but we all believe that considering a diverse range of ideas makes us better investors. The Motley Fool has a disclosure policy. This article only contains general investment advice (under AFSL 400691). Authorized by Scott Phillips.