With 30 June 2019 fast approaching and the end-of-financial-year (EOFY) stress kicking in, here are 3 top ASX stocks that can help you get through the busy months with your portfolio (and mind) intact.
Appen Ltd (ASX: APX)
Appen has been a top performer amongst the S&P/ASX 200 (INDEXASX: XJO) index in 2019, led by outperformance in its half-year earnings and continued demand for artificial intelligence (AI) and machine learning capabilities.
While the Appen share price has climbed over 110% so far this year alone to hit $27.99 per share, I think this is a truly rare growth stock that could be the Afterpay Touch Group Ltd (ASX: APT) of 2019, and continue climbing higher in the years to come.
Appen has proven to have a savvy management team that can continue organic growth for the business as it expands its client base and its AI training capabilities across the globe.
I believe Appen is in the buy basket, despite its lofty relative valuations, and could provide that growth bet to give you something to look forward to as we come to the end of June.
Commonwealth Bank of Australia Ltd (ASX: CBA)
While CBA may be a controversial choice given it was largely a lightning rod for controversy during the 2018 Financial Services Royal Commission, I think the pre-Commission share price damage makes CBA a compelling relative value option.
The CBA share price is currently trading at $82.78 per share, well shy of the $87.40 per share valuation it hit in April 2017 before the Royal Commission speculation kicked off.
Despite offloading some business segments in the meantime, I think CBA has all the right ingredients to maintain its current dividend and send the share price towards the $90 mark in coming years.
Magellan Financial Group Ltd (ASX: MFG)
The Magellan share price has outperformed in 2019, rocketing an incredible 20.6% higher in June alone and 113% since the start of the year to be trading at $51 per share.
Magellan has managed to maintain its assets under management (AUM) throughout the Royal Commission and continued to perform, despite challenging market conditions to close out the second half of 2018.
I think Magellan is a good option within the wealth management space and could prove to be a profitable investment if market conditions can remain intact through to the end of the year.
