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April 3, 2024, 8:55 a.m.
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Meet the Newest Artificial Intelligence (AI) Stock in the Dow Jones: It Soared 950% Over the Last Decade and It's Still a ... - The Motley Fool

This newly added Dow Jones stock has the potential to create significant value for shareholders as the AI market continues to expand. The Dow Jones Industrial Average is the oldest of the three major US stock market indexes, tracking 30 stocks across various sectors. Amazon, which joined the index in February, has been chosen as JPMorgan Chase's "best idea" for 2024 due to the expectation of accelerated cloud revenue, increased e-commerce market share, and expanding margins from advertising sales.

Amazon's strong performance in the fourth quarter, driven by improved delivery speeds and cost control efforts, further adds to its appeal. The company's presence in e-commerce, retail advertising, and cloud computing positions it well for future growth, especially as online retail sales and AI spending are forecasted to increase. With its success in these areas and ongoing investment in AI product development, Amazon's current valuation at 3. 3 times sales presents a reasonable opportunity for investors to consider buying shares.

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