Meet the Newest Artificial Intelligence (AI) Stock in the Dow Jones: It Soared 950% Over the Last Decade and It's Still a Top Buy
The Dow Jones Industrial Average (DJINDICES: ^DJI) is the oldest of the three major stock market indexes in the United States. It was first calculated by Charles Dow as a daily average of 12 industrial stocks in 1896, but the index has since expanded in size and scope. Today, the Dow Jones tracks 30 stocks that span 9 of the 11 market sectors. Only real estate and utilities are not represented.
The Dow Jones is generally seen a barometer for blue chip stocks. While inclusion in the index is not governed by strict rules, the selection committee focuses on companies with excellent reputations and a history of sustained growth, especially when those businesses garner widespread interest among investors. With that in mind, Amazon (NASDAQ: AMZN) was added to the Dow Jones in February, replacing Walgreens Boots Alliance. That alone is little cause for celebration, but another development should pique investors' interest.
Despite gaining 950% over the past decade, analysts at JPMorgan Chase still selected Amazon as their "best idea" in 2024, citing three reasons the company could create more shareholder value:
Source Fool.com
