Here are 3 explosive growth shares to supercharge your portfolio

Appen Ltd (ASX:APX) is one of three growth shares at the top of my shopping list today. Here's why I think they would be great investments…

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My favourite type of share to invest in would have to be growth shares. These are shares that are expected to grow earnings at an above-average rate relative to the rest of the market.

Fortunately there are a good number of high quality growth shares on the Australian share market for me to choose from. Meaning the hardest decision I have to make is which of them to invest in.

Here are three which are at the top of my list right now:

Appen Ltd (ASX: APX)

I'm a big fan of this leading provider of high-quality language data and services and believe it could prove to be a great long-term buy and hold investment. Appen provides its voice recognition and language data services to a wide range of customers including government agencies, automakers, and major technology companies such as Facebook. Demand for its services has continued to grow strongly. So much so management expects earnings to grow in excess of 20% this year. At just under 25x trailing earnings its shares may appear a touch expensive, but I believe its strong growth prospects make it worthy of the premium.

BWX Ltd (ASX: BWX)

BWX is the company behind the increasingly popular Sukin skincare range. Thanks to the skincare brand's growing popularity, earlier this year BWX posted a 30.2% jump in half-year net profit after tax to $8.2 million. Pleasingly I expect more of the same moving forward thanks to its international expansion. Late last year the Sukin brand was launched into the UK market through the Boots pharmacy chain. The early signs have been positive and I feel confident that the range will have great success in the market. Another key export market in the future will be China in my opinion. Demand from the country has been growing strongly and the recent launch of a Chinese language online store should hopefully capitalise on the demand.

Nextdc Ltd (ASX: NXT)

Although the shares of this leading data centre operator have surged 37% in the last 12 months, I don't believe it is too late to make a buy and hold investment. Thanks to increasing demand for cloud services, NextDC saw contracted utilisation rise 32% to 30 MW in the first-half. This led to the company posting an incredible 110% increase in EBITDA to $23.9 million. As more and more businesses migrate to the cloud, I expect NextDC will see demand for its services increase greatly. At 27x annualised earnings I think its shares are fairly priced.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Appen Ltd and BWX Limited. 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 Bruce Jackson.

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