Stock Pick

  • 3 top ASX shares to buy now to get rich later

    growth ASX shares, small caps

    As I’ve mentioned here previously, day trading can generate strong returns, but statistically it creates far more losers than winners.

    As a result, if you’re interested in building your wealth, I would suggest you skip trading and focus on buying and holding ASX shares over the long term.

    With that in mind, I have picked out three ASX shares that I believe could provide strong returns for investors over the next decade and beyond:

    a2 Milk Company Ltd (ASX: A2M)

    The first ASX share that I would buy is a2 Milk Company. I believe it could be a fantastic long term investment option due to the long runway for growth it has thanks to its expanding fresh milk footprint and the growing demand for its infant formula. The latter is experiencing particularly strong demand in the China market. And while its sales in the country have grown very strongly in recent years, it still only has a reasonably small market share. I expect it to capture a greater slice of the key market in the future and for this to drive strong earnings growth.

    Kogan.com Ltd (ASX: KGN)

    Another ASX share to consider buying is Kogan. It is a growing ecommerce company which has been benefiting greatly from the structural change that is happening in the retail industry. This change has been accelerated by the pandemic and looks set to underpin strong earnings growth for Kogan for many years to come. In addition to this, this morning the company announced a $115 million capital raising. It intends to use the funds to acquire businesses that will add value and drive further growth.

    Pushpay Holdings Group Ltd (ASX: PPH)

    A final ASX share to look at buying is this donor management platform provider. Over the last few years Pushpay has carved out a leadership position in the church sector. This has led to increasing demand for its offering and driven exceptionally strong sales growth. The good news is that it has a sizeable market opportunity to grow into. And combined with a recent acquisition and the benefits of scale, I believe its earnings will grow at a rapid rate over the coming years.

    And here are more top shares which analysts have just given buy ratings to…

    3 “Double Down” stocks to ride the bull market higher

    Motley Fool resident tech stock expert Dr. Anirban Mahanti has identified three stocks he thinks can ride the bull market even higher, potentially supercharging your wealth in 2020 and beyond.

    Doc Mahanti likes them so much he has issued “double down” buy alerts on all three stocks to members of his Motley Fool Extreme Opportunities stock picking service.

    See the Double Down Stocks

    *  Extreme Opportunities returns as of June 5th 2020

    More reading

    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 and has recommended Kogan.com ltd. The Motley Fool Australia owns shares of A2 Milk. 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.

    The post 3 top ASX shares to buy now to get rich later appeared first on Motley Fool Australia.

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  • ASX 200 up 0.45%: Harvey Norman declares special dividend, gold miners race higher

    Investment stock market Entrepreneur Business Man discussing and analysis graph stock market trading,stock chart concept

    At lunch on Wednesday the S&P/ASX 200 Index (ASX: XJO) has fought back from a tough start and is pushing higher. The benchmark index is currently up 0.45% to 6,173.2 points.

    Here’s what is happening on the market today:

    Big four banks out of form.

    The big four banks look to have run out of steam on Wednesday. All four banks are trading lower at lunch and are acting as a drag on proceedings. Investors may be taking profit after some incredible gains over the last couple of weeks. The worst performer in the group is the Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price with a 1% decline. This morning Goldman Sachs downgraded its shares to a neutral rating from buy on valuation grounds.

    Harvey Norman sales update.

    The Harvey Norman Holdings Limited (ASX: HVN) share price is charging higher after the release of a sales update this morning. That update revealed that its Australian stores have performed very strongly during the pandemic. As of 31 May 2020, the Harvey Norman Australian franchise network had delivered a 17.5% increase in sales in the second half. Things weren’t quite as positive overseas due to forced closures. In addition to the sales update, the board declared a special dividend of 6 cents per share. This will be paid to shareholders later this month.

    Gold miners race higher.

    Australia’s leading gold miners are charging higher today after the gold price rebounded overnight. Traders were buying the precious metal ahead of the U.S. Federal Reserve’s June meeting this week. The central bank is expected to announce further stimulus measures which are likely to be supportive of the gold price. Gold Road Resources Ltd (ASX: GOR) and Saracen Mineral Holdings Limited (ASX: SAR) shares have been particularly positive performers today.

    Best and worst ASX 200 performers.

    The best performer on the ASX 200 at lunch is the Saracen share price with a 10% gain. This follows the rebound in the gold price. The worst performer is the Worley Ltd (ASX: WOR) share price with a 5% decline. Investors have been selling the engineering company’s shares following the release of its investor day update this morning.

    3 “Double Down” stocks to ride the bull market higher

    Motley Fool resident tech stock expert Dr. Anirban Mahanti has identified three stocks he thinks can ride the bull market even higher, potentially supercharging your wealth in 2020 and beyond.

    Doc Mahanti likes them so much he has issued “double down” buy alerts on all three stocks to members of his Motley Fool Extreme Opportunities stock picking service.

    See the Double Down Stocks

    *  Extreme Opportunities returns as of June 5th 2020

    More reading

    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.

    The post ASX 200 up 0.45%: Harvey Norman declares special dividend, gold miners race higher appeared first on Motley Fool Australia.

    from Motley Fool Australia https://ift.tt/2BRuFwa

  • 5-Star Analyst Sees Big Opportunity for Nvidia in the Automotive Sector

    5-Star Analyst Sees Big Opportunity for Nvidia in the Automotive SectorNvidia’s (NVDA) recent market trouncing performance has rested on several key drivers. Namely, the outstanding growth of its data center segment, which over the last few quarters has been closing the gap on Nvidia’s biggest revenue generator, gaming, and a “friendly” macro environment which has played to the GPU leader’s strengths.However, Nvidia has fingers in many pies, and is banking on several secular trends which are expected to ramp up in the 2020s. Along with making waves in the AI sector, the company is one of the leading players in the rising autonomous vehicle category.For Needham analyst Rajvindra Gill, the investment firm’s recent Annual Automotive Technology Day was an opportunity to get closer acquainted with Nvidia’s “comprehensive end-to-end solution for all levels of ADAS/AV.”The 5-star analyst was not disappointed, and said, “We believe that one of NVDA’s key differentiators in automotive is that its NVIDIA DRIVE is the industry’s only end-to-end platform from cloud to car and back to the cloud. NVIDIA DRIVE’s end-to-end software-defined autonomous driving platform begins in the data center with the collection, archiving, and curation of data through the use of its algorithms. Once the data is collected, it is used to train models and then validated through simulation on the same architecture and then goes into the vehicle.”Gill also points out DRIVE’s ability to run on a single, scalable architecture sets it apart from some of its peers, regardless of whether customers use it for L2 (level 2)+ ADAS (advanced driver assistance systems) or L4 completely autonomous driving applications. The ability to perform different tasks, from development and testing to validation for different applications on just one platform allows customers to save both time and money.Additionally, unlike competitors such as Intel’s Mobileye, DRIVE offers an “open software platform,” which lets developers use Nvidia’s OS, libraries, and algorithms to personalize their own applications.Nvidia’s automotive business currently only makes up between 6-7% of total revenue. However, there’s a big opportunity in the space as Nvidia believes the TAM (total addressable market) of the automotive sector will be worth $30 billion by 2025.Unsurprisingly, Gill is backing Nvidia and has a $400 price target to go with his Buy rating. Investors could be pocketing a 13.5% gain, should Gill’s forecast play out. (To watch Gill’s track record, click here)Nvidia has strong backing from the rest of the Street, too. 27 Buys, 3 Holds and 1 Sell add up to a Strong Buy consensus rating. There’s upside of 8%, should the $379.58 average price target be met in the year ahead. (See Nvidia stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. More recent articles from Smarter Analyst: * China Spike in Model 3 Demand Bodes Well for Tesla, Says 5-Star * Tesla CEO Elon Musk Sees Model Y Facing Production Challenges * Lululemon Earnings Preview: Will LULU Live Up To The Hype? * Soleno Plunging 48% In Pre-Market On Obesity Study Failure

    from Yahoo Finance https://ift.tt/37ip7X8

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