The magic is back for Walt Disney (NYSE: DIS) stock -- which is the best-performing component in the Dow Jones Industrial Average so far this year even after selling off in April. Here's what you need to know about Disney, where it could be headed, and whether the blue chip stock is a buy now.

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Disney's outperformance in 2024 is more the result of years of underperformance rather than Disney being a consistently strong stock. The entertainment titan ended 2023 at just over $90 a share -- close to the company's eight-year low of $78.73. Even after falling around 8% so far in April, Disney is still up close to 25% year to date. However, the stock is lower today than it was five years ago, which illustrates the magnitude of the downturn.

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Source Fool.com