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Top Stocks To Buy Now? 4 Consumer Stocks To Consider

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Apr 21, 2021 (StockMarket.com via COMTEX) -- Looking For The Top Consumer Stocks To Watch Now?

Consumer stocks remain in focus on the stock market this week thanks to positive retail sales figures being posted. Just last week, it was reported that retail sales surged by 9.8% in March, the highest increase in 10 months. Sure, this would be the case given the latest round of stimulus aid coupled with widespread vaccination efforts. Not only would consumers have more discretionary dollars, but they would also feel safer going out to spend said dollars. Additionally, it was also reported that first-time unemployment benefits were at their lowest levels since March 2020. All things considered, I could see top consumer stocks being the most active stocks today.

If anything, we could be looking at an interesting opportunity for investors now. On one hand, the first-quarter 2021 earnings season seems to be picking up speed. With consumer tech giants such as Microsoft ( NASDAQ: MSFT ) and Apple ( NASDAQ: AAPL ) set to report earnings, investors would be watching the industry closely. On the other hand, major stock indices are still recovering from a choppy start to the trading week.

Overall, investors could be looking to invest in the top consumer stocks on the stock market today . Given the current hype and valuations across the board, I can understand why. If you are looking for the best consumer stocks buy today, here are four in the spotlight now.

Best Consumer Stocks To Watch In April

Nio Inc.

Nio is a pioneer in China's premium electric vehicle market. In essence, it designs, manufactures, and sells autonomous driving EVs. The likes of which boast next-generation technologies and artificial intelligence. The company also provides users with innovative charging solutions and other user-centric service offerings as well. NIO stock currently trades at $38.53 as of 3:28 p.m. ET and has been up by over 1,000% in the last year. Earlier this month, the company provided its March and first quarter 2021 delivery update.

In detail, Nio delivered 7,257 vehicles in March 2021, increasing by a staggering 373% year-over-year. Its deliveries in the three months that ended on March 2021 were 20,600 vehicles. This was an increase of 423% year-over-year. Also, the company reported its fourth-quarter financials last month. In it, vehicle sales were $946.2 million for the quarter, a 44.7% increase year-over-year. Nio's total revenue for the quarter was $1.01 billion, a 133.2% increase compared to a year earlier.

Impressively, the company ended the year with $6.5 billion in cash as well. Given the exciting developments surrounding Nio, will you consider adding NIO stock to your watchlist?

[Read More] Looking For SPAC Stocks To Buy In 2021? 3 Names To Watch

Walmart Inc.

Next on this list is Walmart, a multinational retail corporation. The company operates a chain of hypermarkets, grocery stores, and discount department stores. Impressively, over 230 million customers and members visit its stores and e-commerce websites weekly. WMT stock currently trades at $141.07 as of 3:29 p.m. ET. The company in February raised its annual dividend to $2.20 per share, marking a 48 [th] consecutive year of dividend increase.

Also, it reported a record fourth quarter and fiscal 2021 financials in February. Total revenue for the quarter was a staggering $152.1 billion, a 7.3% increase year-over-year. Its e-commerce sales increased by a commendable 69% with strong results across all channels. The company has weathered through the pandemic by accelerating its long-term strategy of transforming itself into a dynamic omnichannel business.

Walmart has also been investing in its next-generation business model. Specifically, it has been investing in automation to fuel future sales and earnings growth. The company expects the fiscal year 2022 investments to be nearly $14 billion. This would give the company a competitive edge as it builds its supply chain capacity and automation to stay ahead of demand. With that said, will you consider watching WMT stock?

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