One small positive from the recent market turmoil is that it has dragged some quality shares down to very attractive levels.
Three growth shares which I think are trading at levels that could lead to them generating strong returns for investors over the next decade are listed below. Here's why I like them:
Appen Ltd (ASX: APX)
The Appen share price has been dragged notably lower by the coronavirus-induced market volatility. This means the global leader in the development of high-quality, human annotated datasets for machine learning and artificial intelligence is trading within sight of its 52-week low and a long way from its 52-week high. I think this is a buying opportunity for investors that are prepared to make a long-term investment. This is because spending on machine learning and artificial intelligence is expected to grow significantly over the next decade, which should drive very strong demand for its services and support stellar top and bottom line growth.
Jumbo Interactive (ASX: JIN)
Jumbo is an online lottery ticket seller which is best known as the operator of the Oz Lotteries website. Due to a combination of its weakening margins from its investment in growth opportunities and the market volatility, Jumbo's shares have fallen materially in 2020. I think this has left Jumbo trading at a very attractive level for a long term investment. After all, as well as its leading position in Australia, the company has its eyes on the UK and US markets and looks well-positioned to disrupt them. Doing so would certainly help the company with its FY 2022 target of $1 billion of ticket sales through the Jumbo platform. This will be around triple what it achieved in FY 2019.
Webjet Limited (ASX: WEB)
The shares of Webjet have fallen significantly due to the coronavirus outbreak. This is because investors are concerned that it could experience a sharp decline in bookings in the second half if consumers cancel their travel plans. Whilst I suspect that Webjet's performance will weaken notably in the second half and offset a lot of its very impressive first half performance, I'm confident that its growth will accelerate once the coronavirus outbreak passes. This could make it worth picking up shares whilst they are trading at these ultra low levels and holding onto them for the long term.
