These 3 Dow Stocks Are Set to Skyrocket After 2024

Honorable Dow Jones Industrial Average It appears that we are currently lagging in the bull market. Of course, the Dow has risen over the past 12 months. However, performance lags significantly. S&P 500 And then there’s the Nasdaq-100, which is flying even higher.

But some Dow Jones Industrial Average members aren’t likely to be left behind. These three Dow stocks are set to skyrocket in 2024 and beyond.

1. Amazon

Amazon (AMZN -1.64%) It is one of the Dow’s “Magnificent Seven” three stocks. Performance over the past 12 months has been consistent with the “excellent” label, with the stock soaring nearly 70%.

Wall Street thinks Amazon can keep winning. The consensus 12-month price target for the stock reflects an upside potential of 11%. I share analysts’ optimism about Amazon.

The company’s cost-cutting efforts are paying off. Amazon’s revenue soared to $10.6 billion in the fourth quarter of 2023 from $300 million a year earlier. I expect continued revenue momentum in the coming quarters.

More importantly, Amazon’s long-term growth prospects remain strong. Advertising has become an important new growth engine. Amazon plans to launch its Project Kuiper satellite later this year to provide internet services from space. Artificial intelligence (AI) will give Amazon Web Services’ cloud platform a major boost.

2. Intel

Until recent weeks, intel (INTC 0.64%) It has established itself as one of the best-performing Dow stocks over the past 12 months. But investor enthusiasm was dampened earlier this month when it was revealed that the giant chipmaker had suffered huge losses from its foundry business.

But analysts still like Intel. The stock’s average 12-month price target is nearly 21% higher than its current price. We’re not sure if Intel will hit that goal over the next 12 months, but we’re optimistic about the stock overall.

First of all, Intel expects its foundry business to become more profitable by 2030. I think it would be a wise long-term move for Intel to invest in manufacturing semiconductor chips for other companies.

I also like Intel’s AI prospects. The new Gaudi 3 AI chip could steal some data center market share. nvidia. Edge AI, which pushes AI processing to where data is generated, presents another big opportunity for Intel in the coming years.

3. Salesforce

sales (CRM -0.18%) It played a role in raising the Dow Jones index. Shares of the software company are up 37% in the past 12 months. The stock price rose even higher, but Salesforce reported that acquisition discussions were underway. Informatica It didn’t make investors happy.

Since then, every potential deal in the pipeline has fallen apart. But Wall Street was unfazed by the uncertainty. Salesforce’s consensus 12-month price target reflects upside potential of approximately 14%.

Salesforce is a great opportunity for companies in a time of change. “(P)ductivity, profitability, margins and revenue have improved,” CEO Marc Benioff said during the company’s fourth-quarter earnings call.

I expect Salesforce to continue to benefit from the explosion of AI adoption. The company is seizing this opportunity with the recent launch of Einstein 1 Studio. This new product allows Salesforce users to customize the Einstein Copilot AI assistant.