Top Canadian Stocks to Watch: Celestica and OpenText

Are you looking for the next big stock to invest in after Nvidia? Look no further than these two Canadian stocks that are poised for growth on the TSX.

First up is Celestica (TSX:CLS), a Canadian multinational electronics manufacturing services company that has a strong connection to semiconductor giant Nvidia. Celestica provides electronics manufacturing services and solutions to Nvidia, allowing the tech giant to focus on research and development while Celestica handles the manufacturing side of things. Celestica recently reported strong financial performance, with earnings per share exceeding analyst expectations. Despite a 285% increase in share price over the last year, there is still plenty of room for growth.

Another top AI stock to consider is OpenText (TSX:OTEX), which has a collaborative relationship with Nvidia centered around leveraging AI and machine learning technologies. OpenText integrates Nvidia’s GPUs and AI capabilities into its enterprise information management solutions, allowing for enhanced analytics, improved data processing speeds, and more robust insights for clients. While OpenText stock hasn’t performed as well as others in the last year, with shares down 20%, this could present a great buying opportunity before the stock rises once more.

If you’re interested in diversifying your portfolio beyond Nvidia, these two Canadian stocks offer promising growth potential in the AI and tech sectors. Consider adding Celestica and OpenText to your watchlist and keep an eye on their performance on the TSX. Who knows, they could be the next big winners in your investment portfolio.