Down Jones Industrial Average 2 Minute (INDEXDJX:DJI) could finally hit the 17,000 mark as big tech’s performers continue to push the 16,000 mark that has stagnated over the past seven months. Tech stocks led by the likes of Intel Corporation (NASDAQ:INTC) and Microsoft Corporation (NASDAQ:MSFT) have been doing their part in pushing the mark over the past few months.
Dow components like, Microsoft Corporation (NASDAQ:MSFT), has been gaining traction in the industry, especially after the appointment of its new CEO Satya Nadella early in the year. According to Dominic Chu of CNBC, the company could gain even more traction in the year on the back of Surface Pro 3 tablet computers. There are also rumors about the release of the Windows 9 operating system that could drive further growth in the company.
Since November last year, the Dow Jones Industrial Average has gained more than 12%, with Cisco Systems, Inc. (NASDAQ:CSCO) up by more than 16% propelling further growth of the Dow. Cisco Systems, Inc. (NASDAQ:CSCO)’s stock has been gaining steam over the past three months considerably impacting the upward trajectory of the Dow; the stock carries a dividend growth of 3%.
Intel Corporation (NASDAQ:INTC), on the other hand, has been the stand-out tech stock over the past seven months considerably impacting growth of the Dow. Intel Corporation (NASDAQ:INTC) has gained over 23%, over the same period clearly signaling that the 17,000 mark could be clocked’ sooner than later. Investors are already finding reasons to be high on Intel Corporation (NASDAQ:INTC)’s stock as it has surpassed its Wall Street average for the same period. Intel’s stock is also the third best performing stock in the Dow for the same period.
The Biggest question according to Dominic Chu is “will analysts find more reason to be bullish on Intel?” Intel Corporation (NASDAQ:INTC) currently commands a yield of 3%. The increase in value of Tech stocks could be interesting to investors, but not the Dow value.
The Dow mostly places value on stocks with high prices like the International Business Machines Corp. (NYSE: IBM), 3M Co (NYSE:MMM) and Caterpillar Inc. (NYSE:CAT). Stocks with prices in the range of between $20 and $40, like Intel Corporation (NASDAQ:INTC) and Microsoft Corporation (NASDAQ:MSFT) carry less price-weighted index in the Dow.
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