Tech Stocks That Look Like Deals After the Recent Sell-Off

Last week, the Bureau of Labor Statistics reported that the U.S. Consumer Price Index rose 2.7% in November, below analysts’ expectations of 3.1%. Core inflation, which excludes highly volatile food and energy prices, also came in at 2.6%, below forecasts of 3%.

Easing inflation has boosted investor optimism about potential Federal Reserve interest rate cuts, helping lift equity markets. The S&P/TSX Composite Index reached a new all-time high on Friday and is up roughly 29% year to date.

Despite this broader market optimism, the following two technology stocks have come under pressure in recent weeks and now present attractive buying opportunities at current levels. Let’s take a closer look at each of them.

Lightspeed Commerce

Lightspeed Commerce (TSX:LSPD) provides infrastructure for omnichannel commerce and payment solutions across more than 100 countries. The stock has declined about 14% from its highs last month amid broader weakness in the technology sector, creating a more attractive entry point for investors.

Meanwhile, the company delivered a solid second-quarter performance for fiscal 2026 last month. Revenue and adjusted earnings per share grew by 15.1% and 23.1%, respectively, while adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) surged 52.1%. Lightspeed generated $18 million in adjusted free cash flow during the quarter and finished the period with $462.5 million in cash and cash equivalents, positioning it well to support future growth initiatives.

Looking ahead, the continued adoption of omnichannel sales models amid ongoing e-commerce growth is expanding Lightspeed’s addressable market. The company is also strengthening its competitive position through innovative product launches, including AI (artificial intelligence)-powered tools, and geographic expansion of its payments solutions. Further, its ongoing cost-optimization efforts, including AI-driven streamlining of support and service operations, could boost efficiency and profitability.

Lightspeed’s management is optimistic about its growth prospects and expects its gross profit and adjusted EBITDA to grow at annualized rates of 15–18% and 35%, respectively, through fiscal 2028. Considering these healthy growth prospects and a reasonable next-12-month price-to-sales multiple of 1.3, Lightspeed appears to offer an attractive buying opportunity at current levels.

Celestica

Another technology stock that has come under pressure in recent weeks is Celestica (TSX:CLS), which has fallen roughly 20.5% from its high last month. Rising concerns around a potential “AI bubble,” driven by elevated valuations, capital-intensive investments, and uncertain near-term profitability, have weighed on the stock.

Meanwhile, Celestica had delivered an excellent third-quarter performance in October. During the quarter, its revenue and adjusted earnings per share increased by 27.6% and 51.9%, respectively. The strong performance from its Hardware Platform Solutions within its Connectivity & Cloud Solutions segment drove its financials during the quarter.

Looking ahead, rising investments by hyperscalers to expand AI infrastructure—amid the growing adoption of AI across businesses and everyday applications—are driving demand for computing power and expanding Celestica’s addressable market. The company is also strengthening its competitive position by developing and launching innovative products, including switches and storage solutions.

Following its strong third-quarter results, management raised its 2025 guidance and provided an optimistic outlook for 2026. The company expects revenue and adjusted EPS to grow by 26.4% and 52% in 2025, and by 31.1% and 39% in 2026, respectively. Supported by these robust growth prospects and a reasonable next-12-month price-to-sales multiple of 2.2, Celestica appears to offer an attractive buying opportunity at current levels.

The post Tech Stocks That Look Like Deals After the Recent Sell-Off appeared first on The Motley Fool Canada.

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Fool contributor Rajiv Nanjapla has no position in any of the stocks mentioned. The Motley Fool recommends Celestica and Lightspeed Commerce. The Motley Fool has a disclosure policy.