The Australian share market is home to a good number of high quality blue chip shares for investors to choose from. But with so much choice, it can be hard to decide which ones to buy.
To narrow things down for you, I've picked out three blue chip shares which I think would be great additions to a balanced portfolio this week.
They are as follows:
CSL Limited (ASX: CSL)
My favourite blue chip share on the Australian market continues to be this biotherapeutics giant. CSL is made up of two businesses – CSL Behring and Seqirus. CSL Behring is the global leader in plasma therapies and Seqirus is the second biggest in the influenza vaccines industry. I believe both businesses have strong long-term growth potential thanks to their leading products and deep research and development pipelines. All in all, I am confident that CSL's shares have the potential to be market beaters over the next decade.
ResMed Inc. (ASX: RMD)
ResMed is a leading medical device company with a focus on sleep treatment products. A recent presentation revealed that there are an estimated 1 billion people impacted by sleep apnoea worldwide. A large majority of these people are undiagnosed and could be at risk of life-threatening conditions such as chronic daytime fatigue, heart disease, stroke, type 2 diabetes, and depression. As awareness of the condition increases, I expect more of these people to be diagnosed over the next decade. This is likely to lead to increasing demand for ResMed's industry-leading products and services.
Telstra Corporation Ltd (ASX: TLS)
I've been very impressed with the way Telstra has turned around its fortunes over the last 18 months and feel it is well placed to return to growth in the very near future. This is due to the return of rational competition in the telco industry, its cost-cutting plans, and its leadership position in 5G. In light of this, now could be a good time to consider a patient long-term investment in the company's shares.
