This Top Dow Stock Was Down 24% in 2022. Is It a Smart Buy in 2023?
The Dow Jones Industrial Average had a down 2022 as the index dropped 9% on the year. Investors often turn to the Dow as a bellwether for how the stock market is doing. Plus, owning a piece of some of the most successful businesses out there could make for a solid investment strategy. In fact, over the past 10 years, the Dow has tripled in value.
Within the index, readers might want to focus on one company in particular as a possible portfolio addition. Continue reading to see if Home Depot (NYSE: HD), a top Dow stock that was down 24% in 2022, makes for a smart buy today.
With trailing-12-month sales of $157 billion, Home Depot is the clear leader of the massive home-improvement industry. The business has found tremendous success by catering to both DIY and professional customers, helping them complete whatever renovation projects they're working on with the right tools, supplies, and guidance.
Source Fool.com