There are plenty of high-quality ASX shares available to Australian investors. However, it's my belief that there are even more shares that have the potential to make ASX investors very rich over in the United States.
For one, there are simply more shares to choose from on the US markets. For another, the US is home to some of the best, and most globally dominant, businesses in the world. As such, it is a fertile hunting ground for long-term wealth builders.
So today, let's discuss three US stocks that I think have the potential to make ASX investors a lot of money.
Image source: Getty Images
3 US stocks that could help ASX investors build wealth
Meta Platforms Inc (NASDAQ: META)
It's easy to forget that the US stock behind the ubiquitous social media platforms of Instagram and Facebook is now known as Meta. Despite this company's investments in the 'metaverse' looking less than fruitful, its earnings engines are still firing with gusto. In its most recent quarterly report, Meta revealed that its revenues were up a staggering 26% year-on-year to US$51 billion.
This was thanks in part to more ad impressions, and higher revenue received from each ad. The company also enjoyed an 18% boost in income from operations to US$20.5 billion.
Despite this, Meta stock is currently in a bit of a slump, down almost 23% from where it was three months ago. This could be a good time to get in on this massive and highly influential company.
Mastercard Inc (NYSE: MA)
Next up, we have payments stock Mastercard. I've long been bullish on this payments network provider, given the global shift towards electronic payments. Although cashless transactions are the norm in Australia, it's easy to forget that that is not the case in many other countries. But that is changing, and Mastercard stands to be a prime beneficiary from what could be a decades-long tailwind.
This is evident in this US stock's most recent quarterly earnings from late last month. This showed Mastercard enjoying a 17% rise in revenues over the quarter to US$8.6 billion. Operating income was up 26% to US$5.1 billion, while earnings per share rose 23% to US$4.34.
With numbers like that, I think this US stock is an exciting long-term wealth builder.
Berkshire Hathaway Inc (NYSE: BRK.A)(NYSE: BRK.B)
Warren Buffett's Berkshire Hathaway is one of the most famous companies in the world. It is a massive conglomerate consisting of entities underlying businesses (such as Dairy Queen and Duracell), as well as part-investments in other stocks (most famously, Apple and Coca-Cola).
Given Warren Buffett's impending retirement as CEO, investors have been, understandably, a little subdued on this company. Berkshire stock is up around 9.6% over the past 12 months. Whilst that's an objectively decent return, it significantly trails the S&P 500's 12.6%.
This might be a good time to buy this company, though. Although Buffett's leadership will be a significant loss, I think he has set up an admirable succession plan. Long-time deputy Greg Abel will take the reins in January, a man who has Buffett's unequivocal confidence. That says a lot, and thus, I am confident Berkshire will be a wonderful investment for years to come.
