This Dow Jones Stock Is a Blue Chip Bargain
The Dow Jones Industrial Average (DJINDICES: ^DJI) (DJIA) is a composite of 30 prominent, blue chip companies. Generally speaking, that means slow, reliable growth, dividends, and low valuations. Given the economic tidings of the past year, many of these stocks have become even more appealing to investors. Visa (NYSE: V) is a top Dow stock that is trading at a bargain price today, and it's an excellent choice to bolster a portfolio.
Visa has been around in some form since 1958, when Bank of America rolled it out as the first consumer credit card program in the U.S. Since then, it has become the premier credit card globally, with 4.1 billion cards worldwide, more than 80 million merchant locations, and more than $14 trillion in processing volume during the past year.
In general, Visa's performance mirrors the state of the economy. As people spend, Visa, which takes a transaction fee from every swipe. When shoppers pull back, Visa's sales contract. That happened at the beginning of the pandemic, but then spending quickly rebounded, and it's still going strong despite inflation.
Source Fool.com
