When I invest in shares I like to look for companies that have a long runway for growth. Ideally I want to be able to invest my money and then not have to touch it for years.
Luckily for Australian investors I believe there are a number of shares on the ASX which can provide this.
Three which I think are worth considering today are listed below. Here's why I like them:
Altium Limited (ASX: ALU)
Thanks to the incredible rise in the number of connected devices worldwide, I believe Altium is in a strong position to deliver above-average earnings growth for the next decade. As the majority of these connected devices require printed circuit boards (PCB) inside them, I expect demand for Altium's PCB design software will grow strongly.
Nextdc Ltd (ASX: NXT)
As businesses continue to migrate to the cloud in their droves, I believe this leading data centre operator will see demand for its services increase greatly. I expect this to result in increasing levels of contracted utilisation and ultimately bumper profit growth as it scales. Considering these long-term tailwinds, NextDC would be my pick of the tech industry at this point.
Ramsay Health Care Limited (ASX: RHC)
I believe there are few better buy and hold investment options on the Australian share market than this private hospital operator. Thanks to its global footprint, I believe Ramsay is positioned perfectly to profit from increasing demand for healthcare services due to ageing populations and increased chronic disease burden across the world.
