The Dow Jones Industrial Average remains in rally mode through the first quarter of 2023, above its 50-day moving average and sharply off its mid-October lows. The top Dow Jones stocks to buy and watch in April 2023 are Apple (AAPL), Boeing (BA), Cisco Systems (CSCO), Nike (NKE) and Microsoft (MSFT).
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There are clear winners — and losers — at the start of April. The top three performing blue chip stocks this year through April 6 were Salesforce (CRM), Apple and Intel (INTC), posting rallies of 45.2%, 26.7% and 24.1%, respectively.
The worst three Dow Jones stocks in March 2023 were 3M (MMM), Caterpillar (CAT) and Honeywell (HON), with respective declines of 15.3%, 12.7% and 11.1%.
The tech-heavy Nasdaq rose 15.5% through the first week of April, and the S&P 500 gained 6.9%. The Dow Jones Industrial Average rose 1% year to date through April 6.
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 | YTD Performance |
|---|---|---|---|
| Apple | (AAPL) | 164.66 | +26.7% |
| Boeing | (BA) | 211.37 | +11.0% |
| Cisco Systems | (CSCO) | 51.27 | +7.6% |
| Nike | (NKE) | 120.22 | +2.7% |
| Microsoft | (MSFT) | 291.60 | +21.6% |
Source: IBD Data As Of April 6, 2023
Amid the current stock market uptrend — according to the IBD Big Picture — investors should focus on top stocks that show strong relative strength. These could be 2023 market leaders if the Dow Jones Industrial Average is able to extend recent gains.
The best Dow Jones stocks to buy and watch in April near buy points include Apple, Boeing, Cisco, Systems, Nike and Microsoft.
Stock Market ETF Strategy And How To Invest
Apple Stock
Apple shares sold off 1.6% Monday, but they remain near their highest level since August and above a 157.48 buy point. AAPL stock dropped 0.4% Tuesday morning.
According to the IBD Stock Checkup, Apple stock shows a 93 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.
Boeing Stock Is A Dow Jones Stock Leader
Boeing is nearing a flat base’s 221.43 buy point, according to IBD MarketSmith pattern recognition.
Shares rose 0.6% Tuesday, rebounding from their 50-day line.
Cisco Stock Gives Up Buy Point
Cisco Systems broke out past a flat base’s 51.84 buy point during recent advances. Cisco on Tuesday fell 0.8%, still below the buy point but it faces no immediate sell signals.
Bullishly, the stock’s relative strength line hit a new high in recent weeks, a sign of market outperformance.
Nike Is One Of The Top Dow Jones Stocks
Nike shares looked to regain their 50-day line, rising 0.7% Tuesday.
They continue to trace a flat base that has a 131.41 buy point. An early entry at 126.16 is also in play.
Microsoft Stock
Microsoft shares fell back into buy range past a flat base’s 276.86 buy point during Monday’s 0.8% drop. The 5% buy area goes up from the buy point to 290.70.
MSFT stock moved down 2% early Tuesday after a UBS note said Wall Street’s Azure estimates are too high. The analyst lowered the firm’s growth estimates for Microsoft’s Azure cloud segment, saying that recent trends have continued into the first quarter.
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 Twitter at @IBD_SLehtonen for more on Dow Jones stocks and the stock market.
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