With a new month upon us, I think it could be a good time to take a look at your portfolio and see if it needs some adjustments.
If you’re looking for some growth shares to buy, then the three listed below could be great options in August. Here’s why I like them:
Altium Limited (ASX: ALU)
Altium is a printed circuit board (PCB) design software provider which I think would be a great long term option for investors. As PCBs are found inside almost all connected devices, I believe Altium is a great way to gain exposure to the Internet of Things boom. A boom which I expect to accelerate when 5G internet becomes the norm. The explosive speeds of 5G internet should allow more and more everyday devices to connect to the internet, which could lead to an increase in licenses for its award-winning Altium Designer software. The launch of its cloud-based Altium 365 offering also looks likely to be a key driver of growth in the coming years.
Appen Ltd (ASX: APX)
I think this global leader in the development of high-quality, human-annotated training data for machine learning and artificial intelligence would also be a great long-term investment option. Appen has been growing at an impressively strong rate in recent years thanks to the growth in machine learning and artificial intelligence and its leadership position in data annotation. As this market is expected to continue growing materially over the next decade, I feel Appen is well-placed to continue its strong form long into the future.
ResMed Inc. (ASX: RMD)
Another growth share to consider buying in August is ResMed. I’m a big fan of this sleep treatment products developer and believe its shares could provide outsized returns for investors over the next decade. This is thanks to the quality of its products and its growing addressable market. In respect to the latter, management estimates that there are 1 billion people impacted by sleep apnoea worldwide. However, the vast majority of these sufferers are currently undiagnosed and could be at risk of life-threatening conditions. I expect the growing education around sleep disorders to lead to more diagnoses and support ResMed’s growth over the coming years.
5 stocks under $5
We hear it over and over from investors, “I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I’d be sitting on a gold mine!” And it’s true.
And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!
*Extreme Opportunities returns as of June 5th 2020
More reading
- Here are easy ways to diversify your ASX portfolio
- Brokers name 3 ASX 200 shares to buy right now
- ASX 200 sinks 1%: IAG cancels final dividend, tech shares tumble, IGO jumps
- 5 things to watch on the ASX 200 on Friday
- Why I would buy Appen and these ASX tech shares right now
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 owns shares of Appen Ltd. The Motley Fool Australia has recommended 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.
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