The Top-Performing Dow Jones Stocks of 2024: A Closer Look
In 2024, the Dow Jones Industrial Average rose over 13%, but its performance lagged behind that of the S&P 500, which soared an impressive 23%. However, while the overall index may not have hit a home run, some individual stocks within it certainly did. In this article, we’ll take a closer look at the top-performing Dow Jones stocks of 2024 and examine what drove their success.
1. Nvidia (up 171%)
Nvidia’s exceptional performance in 2024 was nothing short of astonishing. As a relatively new addition to the Dow Jones, the tech giant consistently exceeded analysts’ expectations when reporting its quarterly financial results. The company’s continued success can be attributed to the growing enthusiasm surrounding artificial intelligence (AI). Nvidia’s ability to capitalize on this trend has provided investors with a plethora of reasons to be excited about their investments.
2. Walmart (up 72%)
Walmart, one of the retail giants in the Dow Jones, demonstrated significant growth in its e-commerce business in 2024. The company’s initiatives aimed at expanding its online presence showed remarkable success, particularly during the third quarter of fiscal 2025, which ended on October 25, 2024. Notably, Walmart reported comparable sales growth of 22% and 43% for its U.S. and international businesses, respectively.
3. American Express (up 58%)
American Express holds a prominent spot in Warren Buffett’s Berkshire Hathaway portfolio as the second-largest holding. While Buffett sold other financial stocks in 2024, he remained committed to American Express, a stalwart in the industry that provided investors with compelling reasons to invest last year.
4. Goldman Sachs (up 48%)
Goldman Sachs achieved consistent year-over-year earnings-per-share growth when reporting quarterly financial results in 2024. This impressive performance is one of several factors why investors chose to buy into the banking stock, driving its notable rise.
5. Amazon (up 44%)
Although failing to match its 167% gain in 2023, Amazon’s stock still rose significantly last year. Investors chose the e-commerce giant for its prominent position in AI as well as its commanding presence in the online retail space.
Should You Buy These Dow Jones Darlings Now?
While the top-performing Dow Jones stocks of 2024 are certainly worth serious consideration, potential investors should not invest without conducting thorough research to ensure that these stocks align with their individual investing goals. It’s essential to remember that past performance is no guarantee of future success.
Investing in Nvidia: A Cautionary Tale
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Consider Nvidia’s Past Performance
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Note: John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. American Express is an advertising partner of Motley Fool Money. Scott Levine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon, Apple, Berkshire Hathaway, Goldman Sachs Group, Nvidia, and Walmart.
