Best Dow Jones Stocks To Buy And Watch In May 2023: Apple, Boeing, Microsoft

The Dow Jones Industrial Average remains in rally mode into the second quarter of 2023, above its 50-day moving average and sharply off its mid-October lows. The best Dow Jones stocks to buy and watch in May 2023 are Apple (AAPL), Boeing (BA), Nike (NKE) and Microsoft (MSFT).


There are clear winners — and losers — at the start of May. The top three performing blue chip stocks this year through April 28 were Salesforce (CRM), Apple and Microsoft, posting rallies of 49.6%, 30.6% and 28.1%, respectively.

The worst three Dow Jones stocks in March 2023 were 3M (MMM), IBM (IBM) and Amgen (AMGN), with respective declines of 11.4%, 10.3% and 8.7%.

The tech-heavy Nasdaq rose 16.8% through the end of April, and the S&P 500 gained 8.6%. The Dow Jones Industrial Average rose 2.9% year to date through April 28.

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) 169.68 +30.6%
Boeing (BA) 206.78 +8.6%
JPMorgan Chase (JPM) 138.24 +3.1%
Nike (NKE) 126.72 +8.3%
Microsoft (MSFT) 307.26 +28.1%
Source: IBD Data As Of April 28, 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 May near buy points include Apple, Boeing, Nike and Microsoft.

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Apple Stock

Apple shares rose 1.4% Thursday, closing just shy of their 52-week high, which was set back in mid-August. The stock continues to add to gains above a 157.48 buy point and is out of the buy range that ran up to 165.35. AAPL stock climbed 0.2% Friday, hitting a new 52-week high at 176.44.

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 inched higher Thursday, holding above its 50-day line. Shares are still forming a flat base with a 221.43 buy point, according to IBD MarketSmith pattern recognition.

Boeing shares lost 0.6% Friday.

Nike Is One Of The Best Dow Jones Stocks

Nike shares are building a flat base with a 131.41 buy point despite recent losses.

NKE stock tumbled 3.7% Friday, sharply below the 50-day moving average.

Microsoft Stock

Microsoft shares soared above a flat base’s 276.86 buy point and out of buy range during recent weeks.

In recent weeks, Microsoft easily beat Wall Street’s targets for its fiscal third quarter thanks to a strong showing by its cloud-computing businesses. The company also guided higher for the current period.

Shares fell 0.3% Friday. On Thursday, MSFT stock hit a new 52-week high at 319.04.

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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