As the coronavirus pandemic rages on, it’s easy to forget that many businesses and the economy, in general, have managed to remain surprisingly resilient throughout the crisis. Consumer spending has remained surprisingly strong, and many companies have been able to adjust to the new normal and even thrive. With this in mind, it’s worth exploring which stocks are worth keeping an eye on as consumer spending remains strong. Here are three stocks we think are worth watching:
First on the list is Apple Inc (AAPL). Apple has long been a leader in the tech industry, and its strong financial performance has been well documented over the last few years. The company’s diversified portfolio of products and services has allowed it to remain relatively unaffected by the pandemic, and its stock price continues to be buoyed by loyal customers as well as an attractive valuation. As consumer spending remains strong, Apple is a great stock to keep on your watch list.
Next up is Amazon (AMZN). Amazon is the undisputed leader in e-commerce, and its stock price has skyrocketed during the pandemic as consumers shifted their shopping habits to the internet. The company’s profits have been consistently strong, and it continues to benefit from strong consumer spending in a variety of categories, including groceries and other essentials. With its strong financials and an attractive valuation, Amazon is undoubtedly worth keeping an eye on.
Finally, it’s impossible to talk about consumer spending without mentioning Walmart (WMT). Walmart is the largest retailer in the United States, and it has seen great returns as consumers switched to bulk buying for essentials like food and household items. The company has also seen great success with its online offering, and its stock price has reflected that. With a strong financial performance and a attractive valuation, Walmart is a great stock to keep on your watchlist.
As consumer spending remains strong, these three stocks are worth keeping on your watch list. With their strong financials and attractive valuations, they represent good potential investments.
