The new Buffett holdings are below.

American Express Co. (NYSE: AXP) was roughly 151.6 million shares, SAME AS last quarter.

Bank of New York Mellon Corp. (NYSE: BK) was almost 19 million shares, which appears to be slightly lower but it had been raised before. What matters here is that it remains a substantial holding still.

Chicago Bridge & Iron Co. (NYSE: CBI) was a NEW POSITION at just over 6.5 million shares worth over $400 million.

Coca-Cola Co. (NYSE: KO) was more than 400 million shares due to the stock split of 2012, but this is virtually the SAME AS BEFORE.

ConocoPhillips (NYSE: COP) is the SAME POSITION at 24.1 million shares, but this is lower than in prior quarters.

Costco Wholesale Corp. (NASDAQ: COST) was the SAME POSITION at 4,333,363 shares.

DaVita Inc. (NYSE: DVA) was a LARGER POSITION and already more than a 10% stake and we recently saw that Berkshire Hathaway had entered into a standstill agreement not to buy more than 25% of the company after already having increased its stake recently. This was listed as 14.97 million shares as of March 31 versus 13.6 million shares before.

Deere & Co. (NYSE: DE) was the SAME POSITION at roughly 4 million shares.

DirecTV (NASDAQ: DTV) was HIGHER YET AGAIN at 37.275 million shares versus almost 34 million shares and that was also higher than before.

Gannett Co. (NYSE: GCI) was the SAME POSITION of 1.74 million shares.

General Electric Corp. (NYSE: GE) is listed as the SAME POSITION at 588,900 shares, but this is still way down from prior reports.

General Motors Co. (NYSE: GM) is the SAME POSITION at 25 million shares, but this was previously up from smaller positions.

GlaxoSmithKline (NYSE: GSK) is the SAME POSITION at 1.51 million shares.

The largest wireless carriers continue to be locked in a war over a market saturated by subscribers. Few athletes or celebrities have the drawing power and command the TV time that Woods does. AT&T was right to sponsor him. Verizon Wireless would be wise to pick up Woods for the same reasons AT&T was. As 4G and new smartphones from Samsung and Apple Inc. (NASDAQ: AAPL) revolutionize the market, Verizon needs more marketing leverage.

Accenture competes with several other global consulting firms for corporate and government customers. It invested millions of dollars in ad campaigns centered around Woods. Accenture’s major competitor — PcW — is already a large PGA tour sponsor. As a matter of fact, it was the title sponsor of the Players Championship, which Woods just won. Its commitment to the sport is already in place. Woods is the logical face of PcW as its extends it participation in the sport.

Coca-Cola Co.’s (NYSE: KO) Powerade is Gatorade’s primary competitor. All of its endorsement deals are with major athletes, including LeBron James and Derrick Rose. Given the prices these athletes command for their associations with Powerade, the drink already invests tens of millions of dollars in endorsements. Woods would be an ideal athlete to round out its stable, based on the fact that he dominates his sport the way that James does.

General Motors Co.’s (NYSE: GM) Buick division dropped Woods before the scandal. Its fortunes crumbled ahead of it entering Chapter 11. Ford Motor Co. (NYSE: F) and Chrysler compete with Buick. Either one of them could turn to Woods to build its brand. Chrysler in particular relies on the U.S. market, because it has little presence overseas.

Woods had what was once estimated to be several hundred million dollars in sponsors. He has won seven of his most recent 21 PGA starts, and four so far this year. During most tournaments, he is on television for several hours — just the kind of exposure major sponsors crave.

High revenue at Groupon Inc. (NASDAQ: GRPN) sends shares up by double digits. (Reuters)

Tesla Motors Inc.’s (NASDAQ: TSLA) first-quarter numbers are better than expected. (Reuters)

Pegatron, an Apple Inc. (NASDAQ: AAPL) supplier, boosts its workforce by 40% for the current quarter. (Reuters)

Smartphone sales are critical to the recovery of Sony Corp. (NYSE: SNE). (Reuters)

Sony’s profit is based on one-time sales of real estate and other assets. (WSJ)

Yields on junk bonds drop to near all-time lows. (WSJ)

McDonald’s Corp. (NYSE: MCD) and Wendy’s Co. (NASDAQ: WEN) begin a price war. (WSJ)

Coca-Cola Co. (NYSE: KO) launches more low-calorie drinks. (WSJ)

Activision Blizzard Inc. (NASDAQ: ATVI) says sales of World of Warcraft have slowed, which raises investor concerns. (WSJ)

Delta Air Lines Inc. (NYSE: DAL) announces a dividend and share buybacks — unusual in the struggling airline industry. (WSJ)

Costs to produce the Samsung Galaxy 4 will be helped by falling component prices. (WSJ)

J.P. Morgan Chase & Co. (NYSE: JPM) looks for directors with more risk management experience. (WSJ)

Groups opposed to the Keystone XL pipeline say President Obama must address other environmental problems if he approves its building. (NYT)

Vegetable prices cause much of China’s inflation in the past month. (FT)

Microsoft Corp. (NASDAQ: MSFT) names its first female chief financial officer. (Bloomberg)

One key issue is that we have never updated our own DJIA 2013 upside target of 14,590 even though the DJIA went 300 points over that. Our value of the stock market will be updated soon. We still think stocks have not peaked for the year, but the bull market just got too far ahead of itself. We are seeing a front-running of the “sell in May and go away” mantra. Again, this is good news for long-term investors.

Earnings season is well into full swing and we have evaluated many DJIA stocks that have reported earnings. In doing so, we have seen which ones investors are likely to build positions in on weakness ahead and those that will require more selling or more weakness before investors start buying. We are evaluating the current price performance through earnings season and our expectations ahead on the following DJIA stocks: International Business Machines Corp. (NYSE: IBM), General Electric Co. (NYSE: GE), McDonald’s Corp. (NYSE: MCD), Caterpillar Inc. (NYSE: CAT), Microsoft Corp. (NASDAQ: MSFT), Intel Corp. (NASDAQ: INTC), Verizon Communications Inc. (NYSE: VZ), Bank of America Corp. (NYSE: BAC), Coca-Cola Co. (NYSE: KO), Johnson & Johnson (NYSE: JNJ), J.P. Morgan Chase & Co. (NYSE: JPM) and Alcoa Inc. (NYSE: AA).

International Business Machines Corp. (NYSE: IBM) is the first big concern, as it is actually the largest weighting of all stocks in the DJIA. This drop of almost 7% to $193 is after closing at $207.15 yesterday. We analyzed earnings and the bottom line is that IBM just cannot grow. So how is that good news? IBM will have some trimming again in its ranks (layoffs), and it is likely to sell off a couple of underperforming drags on the business. The company’s services backlog rose by $1 billion to $141 billion. This takes IBM back to where the stock was at the start of 2013, and we expect a big dividend increase announcement and an even larger stock buyback announcement in the coming days. A $14 drop in the stock price may not mark the absolute bottom, but long-term investors are likely to start nibbling in here and may try to build a position in the coming weeks if they missed the run.

General Electric Co. (NYSE: GE) is a dominant economic force, but not so much when it comes to the DJIA because of the index being price-weighted. GE earnings were truly nothing to write home about, and the stock is down 4% at $21.78. Its chart performance ahead of earnings was signaling that the price rise of 14% from the end of 2012 to the $23.90 year high was running too far ahead of itself. But now shares are down almost 10% from their recent peak after a 4% drop to $21.75. With a 3.3% dividend yield that is higher than all major conglomerates, investors likely will view any further weakness merely as an opportunity to start nibbling and legging into the stock.

McDonald’s Corp. (NYSE: MCD) is down 2% at $99.85 after its earnings disappointed. The reality is that McDonald’s just is unable to keep up with the gains made in prior years, and it could be in a no-growth era now. Its market value is $100 billion and is worth more than all of the public restaurant stocks combined. McDonald’s also trades at a P/E premium to the broader market. That being said, Mickey-D’s has a 3% dividend yield that is the envy of other defensive restaurant stocks. The pullback is still only $4.00 shy of the 52-week high, and we think that investors may not really get aggressive until (or if) this stock gets back down to $95 or so.

Caterpillar Inc. (NYSE: CAT) is set to report earnings Monday, but this industrial equipment giant just signaled another month of lower sales in its monthly update. The numbers are really bad, but not as bad as the drop in February: Asia/Pacific was down 24% in March, after being down 26% in February. Latin America was actually up 12% in March, after being up 3% in February. So on a down day, Caterpillar is up by 0.2% on what looks like bad news ahead of earnings. We do not expect a good earnings report, but the stock is barely $2 above the 52-week low and analysts still expect the stock to rise $27 from this base.

Microsoft Corp. (NASDAQ: MSFT) is actually up 3.5% at $29.82, despite earnings without excitement. We identified this as one of the DJIA stocks with the most upside for 2013, and so far it is living up to that. We had no illusions about the Windows 8 sales being great, but the software giant just is not as down and out as some have considered. That 3.2% dividend yield helps too.

Intel Corp. (NASDAQ: INTC) managed to show sales and earnings that managed to hold up better than the bears were expecting. One analyst even said he cannot see what the bears are hanging on to, and the company is trying to make its architecture sales growth ramp even further as it tries to really get into mobile. At $22.30, this is above the pre-earnings price, and the dividend yield is a whopping 4.2%. One word of caution is that the stock price is close to the consensus analyst target, but it is still down $7 from a 52-week high.

Verizon Communications Inc. (NYSE: VZ) has managed to not sell off, and the stock is back at a decade high. We cannot help but wonder how much lower the dividend yield of 4.2% will be able to go from share price appreciation, but that being said, it already went higher than what we expected. Investors are likely to step in if there are any real pullback opportunities here. The question we have is how much higher it can go if it leverages up further to take more of the Verizon Wireless stake from Vodafone.

Bank of America Corp. (NYSE: BAC) is still very important to the economy, but it is very low on the totem pole for DJIA stocks because of such a low price. We identified that its earnings were just not good enough because the stock rose so much this year and was the best DJIA stock of 2012. There is a huge discount to book value, and banking analysts Meredith Whitney and Dick Bove are calling for much higher prices.

Coca-Cola Co. (NYSE: KO) showed a drag on earnings due to the impact of currencies. There is still a secular threat to soft drinks in developed markets as well. With this stock still within pennies of a multiyear high, it seems that those who want to own Coke do own Coke. Also note that this beverage giant is trading at close to 20 times this year’s expected earnings.

Johnson & Johnson (NYSE: JNJ) has the recall and quality control issues behind it. Earnings allowed it to hit a new all-time yet again. Most of its business lines are growing, and currency did not kill its efforts. The 2.9% dividend is about to go up, and we expect that as soon as the coming week.

J.P. Morgan Chase & Co. (NYSE: JPM) is still lower than it was when it reported earnings. The banking giant is still up 10% or so in 2013. The 3.2% dividend yield is keeping investors interested, and the consensus price target remains close to 20% implied upside at $55 on the stock. If this weakens further, investors likely will start nibbling in again over the coming weeks.

We already have said that Alcoa Inc. (NYSE: AA) needs to lose its “earnings season indicator” status. This stock remains in the doghouse, as it is only 2% above the 52-week low. A turnaround here requires much patience and optimism. Investors are overlooking this one, but it has such a small DJIA weighting that it does not matter much to investors on a standalone basis.

The DJIA is down only about 300 points or so from its peak and is still up more than 10% for 2013. We would be careful in not trying to pick any firm or hard bottoms in any individual stocks. You saw how bad gold went recently for those who tried bottom fishing. Building a position can be done over weeks or even months. If “sell in May and go away” takes hold yet again in 2013, patience will be rewarded.

The U.S. dollar index is trading down 0.81% today, now at 81.752. The GSCI commodity index is down 2.3% at 608.83 (more commodities coverage here). WTI crude oil closed up 0.1% today, at $88.81 a barrel. Brent crude trades down 1% at $99.63 a barrel, its first dip below $100 a barrel since last July. Natural gas is up 0.9% today at about $4.16 per million BTUs. Gold settled up 1.9% today at $1,387.40 an ounce, following the yesterday’s drop of 9.3%.

The unofficial closing bells put the DJIA up more than 157 points to 14,756.70 (1.08%), the NASDAQ rose more than 48 points (1.50%) to 3,264.63, and the S&P 500 rose 1.43% or more than 22 points to 1,574.56.

There were a several analyst upgrades and downgrades today, including Costco Wholesale Corp. (NASDAQ: COST) started as ‘buy’ at UBS; Sprint Nextel Corp. (NYSE: S) raised to ‘overweight’ at J.P. Morgan and reiterated as ‘buy’ with a price target of $8 at Argus; First Solar Inc. (NASDAQ: FSLR) reiterated as ‘hold’ at Argus; Microsoft Corp. (NASDAQ: MSFT) raised to ‘overweight’ at Morgan Stanley; and American Electric Power Co. (NYSE: AEP) cut to ‘market perform’ at Wells Fargo.

Earnings reports since markets closed last night resulted in some price moves today, including these as of the last half hour of trading: Pep Boys – Manny, Moe & Jack (NYSE: PBY) is down 6.2% at $10.55; BlackRock Inc. (NYSE: BLK) is up 0.9% at $256.20; Comerica Inc. (NYSE: CMA) is up 2% at $34.83; Goldman Sachs Group Inc. (NYSE: GS) is down 1.8% at $143.88 (more coverage here); Johnson & Johnson (NYSE: JNJ) is up 2.2% at $83.47 after posting a new 52-week high of $83.54 earlier today (more coverage here); and The Coca-Cola Co. (NYSE: KO) is up 5.9% at $42.46 after posting a new 52-week high of $42.47 earlier today (more coverage here).

Before markets open tomorrow morning we are scheduled to hear earnings reports from CSX Corp. (NYSE: CSX), Intel Corp. (NASDAQ: INTC), United Rentals Inc. (NYSE: URI), and Yahoo! Inc. (NASDAQ: YHOO).

Some standouts among heavily traded stocks today include:

J.C. Penney Co. Inc. (NYSE: JCP) is up 6.1% at $15.27. The struggling retailer saw its shares rise on reports that it was looking at borrowing against its substantial real estate holdings and even other ways to raise cash based on the dirt underneath the stores.

Barrick Gold Corp. (NYSE: ABX) is down 5.3% at $18.74 after posting a second consecutive 52-week low of $18.66 earlier today. The gold mining company continues to be weighed down by the decline in gold prices. Other gold miners continue to suffer as well.

Citigroup Inc. (NYSE: C) is up 3.8% at $46.60. The big bank’s positive earnings results yesterday, especially the improvement in its credit losses, gained more favor today.

Stay tuned for Wednesday. Fed Governor Jeremy Stein, St. Louis Fed President James Bullard, and Boston Fed President Eric Rosengren are giving speeches. We have also noted the following events on the schedule (all times Eastern):

• 7:00 a.m. – Mortgage Bankers Association purchase applications
• 10:30 a.m. – EIA weekly petroleum status report
• 2:00 p.m. – Federal Reserve Beige Book

Currency exchange rates cost the company 2% on comparable net revenues and 4% on operating income for the quarter. On a constant currency basis, first-quarter operating income rose 5%.

The company’s CEO said:

I am pleased with our first quarter performance results, having once again delivered solid growth against the backdrop of a still uncertain global economy.

Worldwide the company’s volume grew 4%, but that did not translate into profits or revenues, both of which were down.

For the full year, Coca-Cola expects currency translation to have an overall impact of negative 2% on the company’s operating income.

Operationally, cost of goods was fell 1%, compared with the same period a year ago.The company continues to expect commodity costs to rise by $100 million in the 2013 fiscal year.

Coca-Cola’s shares are up nearly 3% in premarket trading, at $41.25 in a 52-week range is $35.58 to $41.41. Thomson Reuters had a consensus analyst price target of around $42.90 before today’s report.

The U.S. dollar index is trading up 0.10% today, now at 82.387. The GSCI commodity index is down 1.3% at 623.16. WTI crude oil closed down 2.8% today, at $88.71 a barrel, its lowest level of the year. Brent crude trades down 2.6% at $100.45 a barrel. The crude market was exceptionally hard hit today (more coverage here). Natural gas is down 1.7% today at about $4.13 per million BTUs. Gold settled down 9.3% today at $1,361.10 an ounce, following the largest one-day drop in 30 years and the lowest settlement in more than 2 years..

The unofficial closing bells put the DJIA down about 201 points to 14,664.27 (-1.79%), the NASDAQ fell more than 78 points (-2.38%) to 3,216.49, and the S&P 500 fell -2.30% or more than 36 points to 1,552.38.

There were a several analyst upgrades and downgrades today, including Chipotle Mexican Grill Inc. (NYSE: CMG) raised to ‘buy’ at UBS; Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) cut to ‘sell’ at Citigroup; Saks Inc. (NYSE: SKS) cut to ‘neutral’ at J.P. Morgan; Gold Fields Inc. (NYSE: GFI) raised to ‘neutral’ at Citigroup; and Goldman Sachs GRoup Inc. (NYSE: GS) started as ‘market perform’ at KBW.

Earnings reports since markets closed last Friday resulted in some price moves today, including these as of the last half hour of trading: Citigroup Inc. (NYSE: C) is up 0.7% at $45.10 (more coverage here); The Charles Schwab Corp. (NYSE: SCHW) is down 3.9% at $16.61; and First Republic Bank (NYSE: FRC) is down 4.1% at $38.36.

Before markets open tomorrow morning we are scheduled to hear earnings reports from Pep Boys – Manny, Moe & Jack (NYSE: PBY), BlackRock Inc. (NYSE: BLK), Comerica Inc. (NYSE: CMA), Goldman Sachs Group Inc. (NYSE: GS), Johnson & Johnson (NYSE: JNJ), and The Coca-Cola Co. (NYSE: KO).

Some standouts among heavily traded stocks today include:

Spring Nextel Corp. (NYSE: S) is up 13.9% at $7.08 after posting a new 52-week high of $7.33 earlier today. The wireless carrier received a $25.5 billion offer from Dish Network Corp. (NASDAQ: DISH) this morning, more than $5 billion more than the offer from Softbank now under consideration. More coverage here.

Barrick Gold Corp. (NYSE: ABX) is down 11.9% at $19.93 after posting a new 52-week low of $19.86 earlier today. The gold mining company — and virtually every mining company — was hit hard today by the collapse in gold prices. Barrick also fell 8.5% on Friday. More coverage here.

Life Technologies Corp. (NASDAQ: LIFE) is up 7.5% at $73.11 after posting a new 52-week high of $73.50 earlier today. The laboratory equipment maker is being acquired by Thermo Fisher Inc. (NYSE: TMO) for about $15.5 billion, including debt. More coverage here.

Stay tuned for Tuesday. Fed Vice-chair Janet Yellen, Fed Governor Elizabeth Duke, and Minneapolis Fed President Narayana Kocherlakota are giving speeches. We have also noted the following events on the schedule (all times Eastern):

• 8:30 a.m. – Consumer price index
• 8:30 a.m. – Housing starts
• 9:15 a.m. – Industrial production
• 11:30 a.m. – 4-week Treasury bill auctions

Several other energy drinks racked up hundreds of millions of dollars in total sales last year. Based on data from SymphonyIRI Group, a marketing intelligence firm, 24/7 Wall St. identified the most popular energy drinks by total sales.

Click here to see the most popular energy drinks

The energy beverage market is dominated by two brands — Red Bull and Monster — and they continue to grow. Year-over-year, those companies increased their sales by nearly 14% and 18%, respectively. Two main factors have been driving their growth, and the growth of the energy drink industry as a whole.

First, the companies have reached out to a wider overall demographic in recent years. In the first five years of energy drinks’ prominence in the market, men constituted about 85% of the consumers, said Darin Ezra, CEO of Power Brands Consulting, which works with the beverage industry. Now, about 30% of the consumers are women. This is due in part to the fact that companies have been aggressively marketing sugar-free and flavored drinks.

However, marketing is still predominantly targeted towards young men. Endorsements of athletes in traditionally male-dominated sports like mixed martial arts, motocross and snowboarding illustrate this fact.

The second factor driving the growth is due to the changing demographics of the industry’s original consumers. When the beverages first became popular, Ezra noted, the industry was primarily targeting teenagers and college students. Now, energy drink companies have been able to retain those initial customers while courting new younger buyers into the market.

The two largest beverage companies, Coca-Cola Co. (NYSE: KO) and PepsiCo Inc. (NYSE: PEP), have not had a great deal of success in the energy drink segment. Coca-Cola’s Full Throttle accounts for just 1.28% of the energy drink market. Pepsi’s two top-selling Amp products account for just over 3% of the market.

Fortunately for those two companies, energy drinks have not been much of a replacement for soft drinks, Ezra said. He added that the drinks definitely have not cannibalized on sports drinks such as Gatorade or Powerade.

“An energy drink is not a refreshment,” he said. “Think about it: Would you have an energy drink with your hamburger?” Rather, these energy drinks have been a replacement for morning coffee. Ezra pointed out that more energy drinks are bought between 6 a.m. and 7 a.m. than at any other time during the day.

These energy drinks have come under fire recently due to alleged adverse health effects. According to a study released last week by the American Heart Association, energy drinks can increase blood pressure and over time can disrupt the natural rhythm of the heart. In late 2012, the Food and Drug Administration released dozens of reports of death or injury that cited different energy drinks.

Despite the bad press, some in the industry remain optimistic. Ezra said the coverage has not and probably will not make a dent in sales. In fact, it may actually help. “The fact that the authorities are pushing the extreme potency of these product, if anything, it reinforces the fact that it works,” he said.

Nevertheless, companies such as Monster and Rockstar are making changes to their marketing to limit disclosure of potential adverse health effects that may be linked to their products.

Both companies have moved away from marketing their products as a dietary supplements, categorizing them as beverages instead. The change will allow the companies to sidestep guidelines requiring disclosure of information to the federal government that could link its products with illness, injury or even death.

In a statement from the company last week, Monster argued that the move was made, among other reasons, to allow people who use food stamps to purchase these products — the federal government prohibits using food stamps to buy dietary supplements.

Based on data from SymphonyIRI, 24/7 Wall St. reviewed the top 20 selling energy drinks in the U.S. during the 52 weeks ending February 24, 2013, by brand. Ranking on total sales, we then identified the most popular drink sold under each of the seven brands that make the top 20. Unless otherwise noted, all sales numbers are for the largest drink sold by each brand. These 20 drinks comprised approximately 95% of all energy can drink sales (excluding energy shots). In addition to total sales, we also considered the number of units sold of the product, as well as the change in sales from the previous year, with all data provided by SymphonyIRI. Caffeine and sugar content figures were provided by Energy Fiend.

These are the most popular energy drinks in America.

The companies paying the most in taxes tend to fall into only a few categories. The first is huge oil companies that often post outsized profits every year. They are both large and getting larger as the price of oil rises and remains near historic highs.

Click here to see the 10 companies paying the most in taxes

Click here to see the 10 companies paying the least in taxes

Another group of companies that pays very high taxes are the large tech companies, particularly those that have been around for some time. Unlike the darlings of the moment such as Facebook Inc. (NASDAQ: FB), Microsoft Corp. (NASDAQ: MSFT) pays tremendous taxes and has done so for many years. Even though its growth has slowed, it continues to be very profitable.

The third group is the most unlikely, at least in the eyes of most investors. The banking industry was nearly ruined by the 2008 global financial crisis. However, since then banks have bounced back, and many have huge profits from trading and investment banking operations, and even from renewed demand for mortgages.

Oddly, while some politicians and the public would like to see the tax burden on the mammoth companies raised, other experts want to see the tax rate reduced. Organizations such as the Tax Foundation have made the case that lower taxes will encourage companies to add workers, expand and make more purchases of plants and other equipment. While this opinion is probably not very popular, it illustrates how complex the issue of corporate taxes can be.

Regardless of how this debate will shake out, each of the 10 companies on this list paid at least $4 billion in taxes, and one of them, Exxon Mobil Corp. (NYSE: XOM), paid more than $30 billion. It is at least some evidence that America’s large companies often pay extraordinary amounts.

To identify the companies that pay the most taxes, 24/7 Wall St. reviewed corporate tax payments for the top 150 companies by revenue. Included in our analysis were company financials, including income, employee count and earnings before taxes. These were either provided by Capital IQ, or obtained by 24/7 Wall St. reviews of SEC filings or financial statements. All data, including taxes paid, are for 2012, or the most recent complete fiscal year.

These are the companies paying the most in taxes.

Two tech stocks are among those unlikely to do well short term. Their problems are related and have to do primarily with a fall off in personal computer sales. Microsoft Corp.’s (NASDAQ: MSFT) Windows 8 launch has been a modest disappointment. Many blame this on the move many consumers have made from the PC to the smartphone as their primary computing device. The mobile version of Windows is dwarfed in sales by the Google Inc. (NASDAQ: GOOG) Android operating system and Apple Inc.’s (NASDAQ: AAPL) iOS.

Intel Corp.’s (NASDAQ: INTC) problem is closely related. After 20 years producing the heart of PC hardware, it faces the falloff in PC sales. And its chips are not used frequently in smartphones. For example, the iPhone 5 uses a chipset from Intel rival Qualcomm Inc. (NASDAQ: QCOM). Intel continues to attempt to break into the smartphone sector, but its efforts have had little success.

Another vulnerable industry with two Dow components is big oil. Both Chevron Corp. (NYSE: CVX) and Exxon Mobil Corp. (NYSE: XOM) are part of the DJIA. Each faces the same headwinds. Oil supply continues to grow, and the pressure on oil prices has been downward recently, aided in part by the rapid and powerful emergence of shale products. The advance of renewable energy has been slow, but wind and solar continue to gain adoption, particularly in large nations outside the United States, led by China.

Finally, two food companies, one a manufacturer and the other a retailer, have had slow sales recently. This is due in large part to market saturation and competition. Sales of Coke, the flagship product of Coca-Cola Co. (NYSE: KO), have been lackluster. Not only is the product universally available, but healthier drinks have caught on with many consumers, as have energy drinks like Red Bull. McDonald’s Corp. (NYSE: MCD) same-store sales worldwide have been troubled lately. The company continues to be squeezed by the global success of Subway, and to a lesser extent Yum! Brands Inc. (NYSE: YUM). McDonald’s has counted on increasing sales in large nations — mostly China. But competition in that market becomes more crowded by the year.

The DJIA’s rise could be crippled more by trouble at several of its component companies than by anything in the broader markets.