5 Biggest Winners, 5 Biggest Losers From Dow Jones Industrial Average In 2023
Portfolio Pulse from Chris Katje
The Dow Jones Industrial Average (DJIA) saw a significant rise in 2023, with technology stocks leading the gains. Salesforce, Intel, Microsoft, Apple, and Boeing were the top five gainers, while Walgreens, Chevron, Johnson & Johnson, 3M, and Coca-Cola were the biggest losers. The DJIA ETF (DIA) also experienced a strong year. Microsoft's investment in OpenAI and Apple's new iPhone release were notable events. The DJIA's performance, however, lagged behind the S&P 500 and Nasdaq 100, with the 'Magnificent 7' tech stocks driving much of the market's gains.
January 02, 2024 | 5:02 pm
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NEGATIVE IMPACT
Chevron Corporation's stock price decreased by 16.9%, following a strong performance in the previous year.
Chevron's decline reflects a reversal from the previous year's outperformance, with oil market volatility likely to continue affecting the stock in the short term.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Walgreens Boots Alliance experienced the largest decline in the DJIA, with its stock price falling by 30.1% in 2023.
Walgreens' significant drop as the biggest loser in the DJIA indicates underlying challenges in the health sector, which may continue to pressure the stock in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Apple Inc's stock appreciated by 48.2%, with the release of the newest iPhone version contributing to its performance.
Apple's consistent innovation and new product releases, such as the latest iPhone, are key drivers of its stock price, likely to maintain investor interest.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Boeing Co's stock increased by 36.8%, making it one of the top five gainers in the DJIA for the year.
Boeing's recovery in the aerospace sector has likely contributed to its stock's rise, and this trend may continue to positively impact its short-term stock performance.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Salesforce Inc was the top gainer in the DJIA for 2023, with an impressive 98.5% increase in stock price.
Salesforce's significant gain as the top performer in the DJIA suggests strong company performance and investor confidence, likely to continue attracting investor interest in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 90
POSITIVE IMPACT
The Dow Jones Industrial Average ETF (DIA) tracked the index's performance, ending the year with a double-digit gain.
As DIA directly tracks the DJIA, its performance is closely tied to the index. The positive momentum of the DJIA is likely to continue benefiting DIA in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Intel Corporation saw a 90.1% increase in its stock price, ranking as the second-highest gainer in the DJIA for 2023.
Intel's substantial gain reflects a strong rally in the chip sector, which may continue to positively influence the stock's performance in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Microsoft Corp's stock rose by 56.8%, driven by its significant investment in artificial intelligence through OpenAI.
Microsoft's investment in OpenAI positions it at the forefront of AI, a key growth area, which is likely to continue driving positive sentiment and stock performance.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 90