Best Dow Jones Stocks To Buy And Watch In January 2024: Apple Slides On Downgrade


The Dow Jones Industrial Average ended December with big gains, as the ongoing stock market rally continues. The best Dow Jones stocks to buy and watch in January 2024 are Apple (AAPL), Merck (MRK), Amgen (AMGN), Microsoft (MSFT) and Visa (V).


There are clear winners — and losers — at the start of January. The top three performing blue chip stocks in 2023 were Salesforce (CRM), Intel (INTC) and Microsoft, posting rallies of 98%, 90% and 56%, respectively.

The worst three Dow Jones stocks in 2023 were Walgreens Boots Alliance (WBA), Chevron (CVX) and Johnson & Johnson (JNJ), with respective declines of 30, 16% and 11%.

The tech-heavy Nasdaq rallied 43.4% in 2023, and the S&P 500 gained 24.2%. The Dow Jones Industrial Average rose 13.7% in 2023.

What Is The Dow Jones Industrial Average?

Founded in 1896 with 12 stocks, the Dow Jones Industrial Average is one of the oldest stock market indexes. There are 30 Dow Jones stocks designed to serve as a bellwether for the general U.S. stock market. Other major stock indexes include the technology-heavy Nasdaq composite and the S&P 500 index — an index of the 500 largest companies in the U.S.

Best Dow Jones Stocks To Watch

Company Name Symbol Closing Price 2023 Performance
Apple (AAPL) 193.42 +48%
Intel (INTC) 41.92 +90%
Microsoft (MSFT) 372.52 +56%
Visa (V) 254.61 +25%
Salesforce (CRM) 251.02 +98%
Source: IBD Data As Of Dec. 29, 2023

Amid the current stock market rally — according to the IBD Big Picture — investors should focus on stocks that show strong relative strength. These could again become 2024 market leaders if the Dow Jones Industrial Average is able to extend its recent gains.

The best Dow Jones stocks to buy and watch in January 2024 include Amgen, Apple, Merck, Microsoft and Visa.

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Dow Jones Leader: Apple Stock

Among Dow Jones stocks in the Magnificent Seven, Apple sold off 1.5% Tuesday, still holding near a flat base’s 199.62 buy point. Shares threatened to break down below their key 50-day line.

According to the IBD Stock Checkup, Apple stock shows a 91 out of a best-possible 99 IBD Composite Rating. The Composite Rating — an easy way to identify top growth stocks — is a blend of key fundamental and technical metrics to help investors gauge a stock’s strengths.

Merck Stock

Drug giant Merck is trying to break out past a 119.65 cup-base buy point.

MRK lost 0.4% Tuesday, just above the entry.

Amgen Stock

Drug giant Amgen remains extended past a cup base’s 288.46 buy point after strong gains in recent weeks.

AMGN stock fell 0.7% Tuesday, still extended past the latest entry.

Microsoft Stock

Microsoft stock is extended past a flat base’s 384.30 buy point after a recent breakout move.

Shares fell 0.1% Tuesday, still extended past the 5% buy area that went up to 403.52. Microsoft earnings are due out after the close.

Visa Stock Hits New High

Payments leader Visa is extended past a cup base’s 250.06 buy point after a mid-November breakout.

V stock rallied 1.1% Tuesday, hitting new highs.

Tip: Before making investment decisions, be sure to check current market conditions, and use IBD Stock Checkup to see if your stock gets good ratings for the most important fundamental and technical criteria. To get ongoing chart analysis and trading signals, check out the unique features, stock lists and chart annotations at MarketSmith, Leaderboard and SwingTrader.

Be sure to follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen for more on Dow Jones stocks and the stock market.


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