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2 Millionaire-Maker Technology Stocks

Alex Smith

Alex Smith

6 hours ago

5 min read 👁 1 views
2 Millionaire-Maker Technology Stocks

Investors looking to outperform the market over the next few years should focus on looking what is beyond all the noise in global markets these days. I am not saying you should ignore the impact that the geopolitical crises can have on your investments. However, it does not mean you should stop considering what comes after the dust settles.

Savvier investors with a greater risk tolerance and well-balanced investment portfolios have no shortage of stocks to consider buying amid the current climate. Making successful investments in this risky and volatile market requires identifying stocks with solid growth prospects, expanding margins, and a clearer view of the growth runway.

I will discuss two TSX tech stocks that can turn you into a millionaire investor over time.

Shopify

Shopify (TSX:SHOP) has been consistently proving why it’s one of the best growth stocks to own in Canada. The $216.72 billion market-cap TSX tech stock has established itself as a strong player in the ecommerce space worldwide. It allows merchants of all sizes to build an online presence, effectively making ecommerce far more accessible to smaller and larger businesses alike.

Over time, it has improved its offerings to offer greater value to merchants using its platform and end consumers using it to purchase products. In particular, its integration of artificial intelligence (AI) has been a massive tailwind for the stock. Its aggressive AI integration lines up perfectly with the growing trend of AI-powered search orders.

As of this writing, Shopify stock trades for $166.18. While it might trade for a premium valuation, Shopify stock could grow significantly in the next few years. It might be a good time to add its shares to your portfolio.

Celestica

Celestica (TSX:CLS) is another TSX tech stock that has been taking advantage of the AI revolution. The $45.28 billion market-cap company provides data centre infrastructure and advanced technology solutions. It has been riding the wave of robust AI-driven demand for the networking equipment it provides.

In its recent quarter, Celestica reported strong Q4 growth. Analysts anticipate that the company will leverage rising volumes to accelerate revenue. The demand for AI infrastructure will only grow over time, and Celestica’s pipeline of opportunities makes it arguably the ideal stock to own to capitalize on growing AI demand.

As of this writing, Celestica stock trades for $393.81 per share. Down by around 18% from its all-time high, it can be a good addition to your portfolio to inject long-term growth.

Foolish takeaway

Both companies are exposed to strong long-term trends that can drive their stocks higher. Shopify is leading the charge for AI-fueled commerce, and Celestica is perfectly positioned to benefit from a sustained demand for AI infrastructure spending.

If you have a well-balanced portfolio and want to take on some risk for high-reward potential, these two might be good investments to consider. While not immune to losses due to short-term market volatility, these two seem the likeliest long-term winners to consider adding to your self-directed investment portfolio.

The post 2 Millionaire-Maker Technology Stocks appeared first on The Motley Fool Canada.

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Fool contributor Adam Othman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Shopify. The Motley Fool recommends Celestica. The Motley Fool has a disclosure policy.

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