If you're looking to invest $10,000 into the share market in July, then I think the two ASX shares listed below could be the ones to buy.
Here's why I would snap up these ASX shares next month:
Nearmap Ltd (ASX: NEA)
Nearmap is an aerial imagery technology and location data company providing high-resolution aerial maps and 3D maps for governments and businesses. While its performance in FY 2020 has been a touch disappointing because of several churn events, I remain very positive on its long term outlook.
For example, this year the company is aiming to deliver annualised contract value of $102 million to $110 million. This is only a fraction of the global aerial imagery market which is estimated to be worth US$10.1 billion in 2020. And thanks to its high quality software (including its new artificial intelligence product) and geographic expansion opportunities, I believe Nearmap will continue to win a greater share of this fragmented market over the coming years and drive strong recurring revenue growth.
NEXTDC Ltd (ASX: NXT)
Another top option for a $10,000 investment could be NEXTDC. It is a leading and innovative data centre operator which operates a portfolio of world class operations in key locations across Australia. Demand for its services has been growing very strongly in recent years and particularly in 2020 during the pandemic.
This is because the pandemic has accelerated the shift to the cloud and driven very strong demand for data centre capacity. So much so, NEXTDC recently announced the construction of its third data centre in Sydney and brought forward planned capacity additions in other markets. I'm confident there will be more of the same in the coming years, which should drive strong earnings growth as it scales. This could make it a great buy and hold option for investors.
