The 3 Best Dow Stocks to Buy in April 2024

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  • March with the stalwarts with the best Dow stocks to buy in April.
  • Walmart (WMT): Walmart offers a reliable one-stop shop for consumers and investors alike.
  • Chevron (CVX): Chevron is an underappreciated hidden-gem hydrocarbon giant.
  • Amazon (AMZN): Amazon should rise as consumers still love e-commerce despite inflation.
Best Dow Stocks to Buy in April - The 3 Best Dow Stocks to Buy in April 2024

Source: Pavel Ignatov / Shutterstock.com

Let’s face it – targeting the best Dow stocks to buy in April seems like an awfully boring idea. With so many opportunities in technology and exciting avenues in the decentralized finance (DeFi) space, jumping on the Dow Jones Industrial Average almost seems a letdown.

While it’s an old dog, it can still learn new tricks. Fundamentally, arguably the most important attribute of the best Dow stocks to buy in April is relevance. Whether addressing contemporary consumer needs or playing into broader geopolitical dynamics, many of the Dow 30 companies align with powerful tailwinds.

In addition, the enterprises themselves benefit from a long track record of growth and profitability. Though it’s exciting to speculate on the next big thing, most such wagers end up being flashes in the pan. Here, you’re dealing with established names that can go the distance. With that, below are the best Dow stocks to buy in April.

Walmart (WMT)

Walmart (WMT) logo on a store front
Source: Ken Wolter / Shutterstock.com

When you think about the best Dow stocks to buy in April, it’s difficult not to consider big-box retailer Walmart (NYSE:WMT). It’s not just because of its massive footprint, although that’s part of it. Rather, it’s a one-stop shop for consumers seeking everyday low pricing. From the discretionary items to the essentials, Walmart has it all. Irrespective of whatever happens in the economy, it should perform well.

Now, is Walmart a sexy business? Hardly. However, you can’t really argue with the results. In the past fiscal year, the worst performance came in the quarter ended Oct. 30, 2023. That was when the company posted earnings per share of 47 cents, matching the expected target. Overall, the average positive earnings surprise in the last four quarters came out to 6.78%.

For the current fiscal year (2025), analysts believe Walmart will post EPS of $2.18 on revenue of $623.85 billion. Last year, the company delivered earnings of $2.05 per share on sales of $600.42 billion. Combined with a forward dividend yield of 1.37%, WMT gets the job done.

Chevron (CVX)

Chevron (CVX) logo on gas station sign with "diesel" and "food mart" written underneath
Source: Sundry Photography / Shutterstock.com

A classic idea for best Dow stocks to buy in April, Chevron (NYSE:CVX) might seem too classic. Because of its core oil and natural gas business, investors might view CVX stock as antiquated and thus losing relevance. However, the geopolitical realm involving Russia’s military belligerence likely not fading anytime soon suggests that oil could become supply constrained. After all, Russia is a major energy exporter.

You also have to factor in the domestic political framework. With the Biden administration not winning any new friends seemingly, it can’t afford to adopt a draconian stance on hydrocarbons. Given this context, investors shouldn’t panic about the financial performance last year. Yes, the average earnings surprise is 0.8% below breakeven. However, demand may rise over the next several months.

And that’s why I’m not fretting about the disappointing fiscal 2024 forecast. It calls for EPS of $11.77 on revenue of $182.23 billion. Both metrics are down from last year’s print. However, the fundamental dynamics should bolster CVX. Therefore, it should be one of the best Dow stocks to buy in April.

Amazon (AMZN)

Closeup of the Amazon logo at Amazon campus in Palo Alto, California. The Palo Alto location hosts A9 Search, Amazon Web Services, and Amazon Game Studios teams. AMZN stock
Source: Tada Images / Shutterstock.com

Known for being an e-commerce giant, Amazon (NASDAQ:AMZN) is now so much more. Over the years, it has become a true technology juggernaut, getting heavily involved in cloud computing. As well, it has branched into several other sectors, including content creation and even specialty groceries. Fundamentally, though, the core online marketplace business resonates deeply because that’s exactly what the consumers want.

Even with households facing challenges tied to rising prices and steep borrowing costs, people are still gravitating toward e-commerce. Just look at last fiscal year’s earnings performance. In fiscal 2023, the average earnings surprise clocked in at an impressive 55.33%. The “worst” performance came in the fourth quarter, when the surprise was “only” 25.7%.

For fiscal 2024, analysts believe that EPS will land at $3.83 on revenue of $594.12 billion. That’s a sizable improvement over last year’s print of $2.69 EPS on sales of $532.48 billion.

Is anyone doubting AMZN? It’s one of the best Dow stocks to buy in April.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.


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