The 3 Best Dow Stocks to Buy in August 2024

Core Insights - The Dow Jones index has gained approximately 50% over the past five years, indicating a strong portfolio performance [1] American Express (AXP) - American Express has achieved a 23% year-to-date gain and over 85% growth in the past five years [2] - The company reported a 9% year-over-year revenue growth in Q2, with net income increasing by 39% year-over-year, resulting in a 20% net profit margin [2] - American Express has a P/E ratio of 17 and offers a dividend yield of 1.21%, with a history of double-digit dividend growth, including a 17% hike this year [2] - Wall Street projects an additional 8% upside for the stock from current levels [2] Amazon (AMZN) - Amazon reported a 10% year-over-year revenue growth in Q2, with Amazon Web Services showing a 19% increase and the advertising segment growing by 20% year-over-year [4] - Despite facing short-term headwinds, Amazon's strong presence across various sectors makes it a compelling long-term investment, with a projected 34% upside from current levels [4] Walmart (WMT) - Walmart has seen a 29% year-to-date gain, with Q1 FY25 revenue increasing by 6% and adjusted EPS rising by 22.4% [5] - The company is gaining market share in e-commerce, with online sales up 21%, and its global advertising business grew by 24% [5] - Walmart announced a 9% dividend hike, marking its highest increase in over a decade and its 51st consecutive year of dividend growth [6]