3 explosive ASX shares for growth investors to buy in May

Appen Ltd (ASX:APX) and these ASX growth shares could be great options for growth investors to buy in May…

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

A new month is here, so what better time to consider an addition or two to your portfolio.

If you're interested in growth shares then I think the three shares listed below could be worth considering this month. Here's why I like them:

Appen Ltd (ASX: APX)

Appen is a leading developer of high-quality, human annotated datasets for machine learning and artificial intelligence. Its team of experts prepare the data that goes into the artificial intelligence and machine learning models of some the largest tech companies in the world such as Facebook and Microsoft. Demand for its services has been growing very strongly in recent years and looks likely to continue doing so for some time as businesses invest heavily in the space. In light of this, I think it is one of the best buy and hold options on the Australian share market right now.

BetaShares NASDAQ 100 ETF (ASX: NDQ)

Another option for growth investors to consider is the BetaShares NASDAQ 100 ETF. This exchange traded fund allows investors to gain exposure to many of the largest tech companies in the world such as Amazon, Apple, Netflix, and Google parent, Alphabet in a single investment. Given the positive outlooks of these companies, I believe the BetaShares NASDAQ 100 ETF could provide investors with strong returns over the next decade.

NEXTDC Ltd (ASX: NXT)

A final growth share to consider buying is NEXTDC. It is the Asia region's most innovative Data Centre-as-a-Service provider with centres in key locations in many of Australia's capital cities. Its shares have been on fire this year thanks to a strong half year result and a number of positive contract announcements. In respect to the latter, demand has been so strong for its data centres, it has brought forward expansion plans and just announced the construction of a third centre in the Sydney market. I expect the seismic shift to the cloud and increasing data consumption to support strong profit growth for many years to come.

Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia owns shares of and has recommended BETANASDAQ ETF UNITS. The Motley Fool Australia owns shares of Appen Ltd. 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.

More on Growth Shares

A bland looking man in a brown suit opens his jacket to reveal a red and gold superhero dollar symbol on his chest.
Growth Shares

3 exciting Australian growth shares to buy with $3,000 in August

Analysts think these shares could be top buys for Aussie growth investors.

Read more »

Young woman waiting for job interview.
Growth Shares

Australian job ad volumes declined last month. Are Seek shares a sell?

Should investors seek returns elsewhere?

Read more »

happy investor, share price rise, increase, up
Growth Shares

The best ASX growth shares to buy now

These growth shares have been recommended as buys.

Read more »

A young well-dressed couple at a luxury resort celebrate successful life choices.
Growth Shares

Where to invest $2,500 in ASX shares in August

Let's see which shares are being tipped as buys for next month.

Read more »

Person pointing at an increasing blue graph which represents a rising share price.
Growth Shares

What to buy now with the ASX at a record high

Analysts think these shares could still rise strongly from current levels.

Read more »

A young man looks at a stylised investment graph superimposed on an exterior office building backdrop.
Growth Shares

Where to invest $10,000 in ASX 200 stocks today

Analysts think these high-quality shares are in the buy zone for investors right now.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Growth Shares

Two ASX industrials shares with buy recommendations

One broker believes these growth shares are set to rise.

Read more »

Man smiling at a laptop because of a rising share price.
Growth Shares

I think these 2 exciting ASX growth shares are buys today

These stocks could deliver big returns.

Read more »