When investors think of stocks from the Dow Jones Industrial Average, some might think the index has more than its share of stodgy industrial companies unlikely to produce more than nominal returns and ignore its component parts. But in recent years, Dow parent S Global has replaced old-economy companies such as Alcoa and General Electric in the index with more dynamic stocks that better represent the new economy.

This still-relevant index still has some stocks that hold the potential for significant gains. Two Dow components that remain relevant are Amazon (NASDAQ: AMZN) and Nike (NYSE: NKE). Let's find out a bit more about these two stocks and why they are set to soar in 2024 and beyond.

Most people know Amazon best for its e-commerce site and its various Prime subscription services. But its potential as a growth stock primarily lies in its Amazon Web Services (AWS) segment. As a cloud provider, AWS plays a crucial role in supporting third-party applications and services of all sorts, including those driven by artificial intelligence (AI).

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Source Fool.com