The two S&P/ASX 200 Index (INDEXASX: XJO) heavyweights both hit new all-time highs on Tuesday as the index gained 0.85%.
So with both of these ASX blue chips climbing higher, is there still time to buy in 2020?
Why CSL and Macquarie shares are climbing higher
The CSL share price topped out at $299.90 per share in yesterday’s trade, just shy of the $300 barrier I discussed earlier in the week.
Macquarie shares got as high as $141.50 per share yesterday and is now pushing a $50 billion market capitalisation.
Both CSL and Macquarie shares have been performing strongly this year. The Aussie healthcare stock is up 7.45% in 2020 while the banking group’s shares have climbed 2.38%.
This is despite no market sensitive news from either company since the turn of the decade. However, the ASX 200 has also surged to new record highs and brought these 2 blue chips along for the ride.
Is there still time to buy?
CSL and Macquarie shares are undoubtedly two of the top ASX growth shares of the past decade.
Since Macquarie bottomed out in February 2009, the Aussie wealth manager’s shares have climbed 729.45% higher. Meanwhile, CSL shares are now up over 35,000% since their adjusted $0.76 IPO back in 1994.
Bear in mind, both of those growth figures exclude some very handy dividends along the way.
So I think you’d have to be a brave investor to bet against CSL and Macquarie shares in 2020 and beyond.
Where can I find the next ASX growth stock?
If the last two weeks are anything to go buy, the next hot growth stock could be an ASX lithium miner.
The big 3 lithium miners have seen their share prices sky rocket well ahead of CSL and Macquarie shares.
Orocobre Ltd (ASX: ORE) has led the pack with a 42.26% year-to-date share price gain in 2020.
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Kenneth Hall has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. 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.