Are you looking to buy some blue chip ASX shares for your portfolio this week?
If you are, then I think you should look at the ones listed below. I believe all three have the potential to generate solid returns for investors over the next decade.
Here's why I would buy these ASX blue chip shares today:
Cochlear Limited (ASX: COH)
The first blue chip ASX share to consider buying is Cochlear. It is the global leader in implantable hearing devices. I believe it has very strong growth potential over the 2020s thanks to its exposure to the ageing populations tailwind. I expect this tailwind to lead to solid demand for its hearing products over the next decade and underpin strong earnings growth. This could make the Cochlear share price a long term market beater.
CSL Limited (ASX: CSL)
Another quality blue chip ASX share to consider buying is CSL. It is the biotherapeutics giant behind the world class CSL Behring and Seqirus businesses. Over the last decade CSL has grown its earnings at a consistently solid rate thanks to the strong demand for its therapies. The good news is that I expect more of the same over the next 10 years. Especially given the expected surge in demand for influenza vaccines in the coming years because of the pandemic and the increasing demand for immunoglobulins. Supporting its growth will be its research and development pipeline. This has a number of therapies under development that have the potential to generate billions of dollars in sales.
Goodman Group (ASX: GMG)
A final blue chip ASX share I would buy for the long term is Goodman Group. I think the integrated commercial and industrial property company is well placed for growth thanks to its high quality portfolio of assets. This portfolio comprises strategically located modern, high quality properties in key gateway cities around the world. Management notes that these properties have shortened the distance between businesses and consumers and put its customers ahead of the market. A testament to the quality of these assets are its tenants. Goodman counts the likes of Amazon, DHL, and Walmart among its tenants.
