With interest rates at record lows and potentially still going lower in November, I continue to believe that investors would be better off putting any excess funds into the share market rather than leaving them to gather only paltry interest in a savings account.
But where should you invest these funds? Here are two unstoppable ASX shares I would invest $5,000 into right now:
Appen Ltd (ASX: APX)
The first option for investors to consider investing $5,000 into is Appen. I’m a big fan of the company because of its position as the global leader in the development of high-quality, human annotated datasets for machine learning and artificial intelligence (AI). Appen has achieved this thanks to its global crowd of more than 1 million skilled contractors, an expertise in more than 180 languages, and the industry’s most advanced AI-assisted data annotation platform.
With such a strong pedigree, it is no surprise that Appen provides solutions to the many of the global leaders in technology, automotive, financial services, retail, manufacturing, and government. The good news is that spending on machine learning and AI is expected to increase materially over the next decade, putting Appen in a perfect position to continue growing its earnings at a strong rate for many years to come.
Pushpay Holdings Group Ltd (ASX: PPH)
Another option to consider for that $5,000 investment is Pushpay. It is a donor management and community engagement platform provider with a focus on the church market. Pushpay has been a very strong performer in recent years and has carved out a big slice of the lucrative U.S. market. This has underpinned very strong revenue growth and, thanks to the benefits of scale, even stronger operating earnings growth.
Pleasingly, Pushpay appears well-positioned to gain further market share in the coming years thanks to the quality of its platform, the shift to a cashless society, and the digitisation of the church. Another positive is last year’s US$87.5 million acquisition of church management system provider Church Community Builder. This acquisition has strengthened its offering significantly and is expected to support further margin expansion. Overall, I believe Pushpay can be a market-beater over the 2020s, making it a great place to invest today.
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!
See how you can find out the name of this stock
Returns as of 6th October 2020
More reading
- 3 ASX shares to buy in a US election selloff
- The Appen (ASX:APX) share price is up 55% in 2020: Too late to buy?
- Why this ASX tech share could be better than BNPL stocks
- You could become very wealthy by investing $1,000 into these ASX shares
- 4 stellar ASX growth shares to buy 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 PUSHPAY FPO NZX. The Motley Fool Australia owns shares of Appen Ltd. The Motley Fool Australia has recommended PUSHPAY FPO NZX. 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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