Top Dow Jones Stocks of 2024: A Year of Surprising Gains
As the curtain closes on 2024, the Dow Jones Industrial Average has posted a remarkable 13% gain for the year. Amidst this backdrop, five stocks have emerged as the top performers, defying expectations and setting new records.
Nvidia: The AI Leader
Nvidia (NVDA) takes the top spot, with its stock nearly tripling in 2024, boasting a staggering 171% gain. This AI leader has a near-perfect 98 Composite Rating, with an EPS Rating of 99 and an RS Rating of 94. Its dominance in advanced semiconductors for artificial intelligence applications and accelerated computing has propelled its growth.
Walmart: The Retail Giant
Walmart (WMT) follows closely, with its stock jumping about 72% in 2024. The retail giant’s 84 Composite Rating, 85 EPS Rating, and 91 RS Rating reflect its successful integration of technology to boost e-commerce sales and operational efficiency. Its famously low prices continue to resonate with inflation-weary shoppers.
American Express: The Credit Card Powerhouse
American Express (AXP) takes the third spot, with its stock surging about 59% in 2024. Its 95 Composite Rating, 87 EPS Rating, and 89 RS Rating demonstrate its ability to attract high-spending, high-credit-quality customers. The recovery in travel and entertainment spending, as well as its growing appeal among younger cardholders, have contributed to its success.
Goldman Sachs: The Investment Banking Giant
Goldman Sachs (GS) has seen its stock zoom 48% higher in 2024, driven by its expanding asset management business and anticipated benefits from deregulation. Its 92 Composite Rating, 87 EPS Rating, and 89 RS Rating reflect its strong performance.
The Year Ahead
As we enter 2025, investors will be watching these top Dow Jones stocks closely, particularly in light of potential Fed rate cuts and their impact on consumer spending and transaction volumes. With their impressive gains in 2024, these stocks are poised to continue their upward trajectory in the new year.
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