If you're wishing to bolster your portfolio with the addition of some ASX blue chip shares, then you might want to consider the ones listed below.
Here's why I think these blue chip ASX shares could be great long term options for investors:
Cochlear Limited (ASX: COH)
The first blue chip ASX share to consider buying is Cochlear. I think the hearing solutions specialist could be a great long-term investment due to the ageing populations tailwind. As our hearing has a tendency to fade when we get older, I'm confident that ageing populations will lead to growing demand for its high quality products over the next couple of decades. In addition to this, I'm a big fan of the company due to its heavy investment in research and development and the industry's high barriers to entry. Combined, I expect these to allow Cochlear to maintain its leadership position and limit competition in the future.
CSL Limited (ASX: CSL)
The CSL share price has uncharacteristically been an underperformer in recent months and is trading around 18% lower than its 52-week high. I think this pullback is a buying opportunity for investors with a long-term focus. This is because I'm confident the biotherapeutics company is well-positioned to deliver solid sales and earnings growth over the long term. This is thanks to increasing demand for immunoglobulins, its growing plasma collection network, and its lucrative research and development pipeline.
SEEK Limited (ASX: SEK)
A final blue chip ASX share to consider buying is SEEK. I think the job listings company is one of the best long-term options on the Australian share market. This is due to its growing China-based operations, its market domination in the ANZ market, and investment in future growth opportunities. In FY 2020 SEEK delivered a small increase in revenue to $1,577.4 million. And while FY 2021 will be tough because of the pandemic, I'm confident the company's growth will accelerate once the crisis passes. This should put it back on a path to achieving its aspirational revenue target of $5 billion later this decade.
