If you're looking to make some additions to your portfolio in October, then I think the three ASX shares listed below would be great options.
I believe they are among the best on offer on the Australian share market and could generate strong returns for investors over the next decade.
Here's why I rate them as five-star stocks:
Afterpay Ltd (ASX: APT)
The first five-star stock is Afterpay. This buy now pay later provider has been a very impressive performer over the last few years and appears well-positioned to become a global force in the payments industry. Especially given the surprising strength and flexibility of its business model and its global expansion plans. The company has just launched in Canada and has acquired its way onto mainland Europe. It also has its eyes firmly on the Asia market. The latter should be supported by its major shareholder, WeChat owner Tencent Holdings. And with the Afterpay share price down 21% from its high, now could be an opportune time for a long term investment.
Altium Limited (ASX: ALU)
Another five-star stock to buy is Altium. It is a leading electronic design software platform provider which has exposure to the rapidly growing Internet of Things and artificial intelligence markets. These markets are supporting the explosion of electronic devices globally and underpinning growing demand for its Altium Designer and cloud-based Altium 365 products. But Altium is more than just these products. It also has other businesses with a lot of growth potential. These include workflow solution platform NEXUS and electronic parts search engine Octopart. Combined, I believe the company is perfectly positioned to achieve its market domination target later this decade.
CSL Limited (ASX: CSL)
A final five-star stock to buy is CSL. I think the biotherapeutics giant would be a quality long term investment due to its world class CSL Behring and Seqirus businesses. This is due to their leading therapies and vaccines, growing plasma collection network, and burgeoning research and development pipeline. This pipeline contains a number of products, such as Clazakizumab, that have the potential to generate billions of dollars of sales in the future. Overall, I believe this puts CSL in a position to continue generating strong returns for investors for a long time to come.
