3 Canadian Stocks Set to Explode in the Next Decade – Yahoo Canada Finance

Investors should be aware that bargain prices don't always lead to big returns
Written by Amy Legate-Wolfe at The Motley Fool Canada
In the fast-paced world of finance, identifying stocks with long-term growth potential is akin to discovering hidden treasures. Investors searching for such gems need not look any further than Open Text (TSX:OTEX), Shopify (TSX:SHOP), and Topicus (TSXV:TOI).
These three stocks have not only shown remarkable growth but are also well-positioned to capitalize on the expanding markets of cybersecurity, artificial intelligence (AI), cloud data, e-commerce, and software company expansion in the coming decade.
Open Text stock, a global leader in information management solutions, is poised to thrive in the era of cybersecurity, AI, and cloud data expansion. The cybersecurity market is projected to grow at a compound annual growth rate (CAGR) of 10.9% from 2021 to 2028, reaching a staggering US$366.1 billion by 2028. As cyber threats become more sophisticated, the demand for comprehensive cybersecurity solutions like those offered by Open Text is expected to surge.
Moreover, Open Text stock’s focus on artificial intelligence and cloud data management positions it as a frontrunner in these rapidly expanding fields. Cloud data is forecasted to grow at a CAGR of 15.7% from 2021 to 2028. Open Text’s AI-powered solutions and cloud-based data management services are well aligned with these trends, ensuring sustained growth in the years ahead.
Between 2015 and 2021, Open Text’s stock exhibited impressive growth, with its share price increasing from around $45 to approximately $66, representing a gain of nearly 47%. With the cybersecurity, AI, and cloud data markets set to explode, OpenText appears well positioned to continue this upward trajectory.
Shopify stock, the ecommerce giant, has been a game changer in the retail landscape. The global ecommerce market is on an upward trajectory, and Shopify stock is at the forefront of this revolution. According to Statista, global e-commerce sales are projected to reach US$6.4 trillion by 2024, up from US$3.5 trillion in 2019. This exponential growth is driven by a shift in consumer behaviour toward online shopping, accelerated by the COVID-19 pandemic.
Shopify stock’s performance between 2015 and 2021 is nothing short of remarkable. Its share price skyrocketed from approximately $27 to over $1,400, marking an astounding gain of over 5,100%. This meteoric rise is a testament to Shopify stock’s ability to capitalize on the booming e-commerce market.
Furthermore, Shopify stock’s diverse suite of services, including online store platforms, payment processing, and fulfillment solutions, positions it as a one-stop shop for businesses looking to establish and expand their online presence. As the e-commerce sector continues to expand, Shopify stock is set to benefit from the rising tide.
Topicus, a software solutions provider, is primed for growth in the software industry. The software market is expected to flourish as businesses increasingly rely on technology to enhance efficiency and productivity. According to Grand View Research, the global software market is anticipated to reach $507.2 billion by 2028, growing at a CAGR of 13.6%.
Topicus, with its portfolio of software solutions tailored for various industries, is well poised to capitalize on this market expansion. Its innovative software offerings, including data management, customer relationship management, and enterprise resource planning solutions, cater to the evolving needs of businesses in the digital age.
The company’s remarkable performance reflects the market’s recognition of Topicus stock as a leading player in the software sector, and it suggests that the company has the potential for further growth in the coming years.
In conclusion, these stocks have all exhibited impressive growth over the years. Each is well positioned to capitalize on the expanding markets of cybersecurity, artificial intelligence, cloud data, e-commerce, and software companies in the next decade.
As these sectors continue to grow at a rapid pace, investors may find these stocks to be promising long-term investments, potentially delivering substantial returns in the years ahead. However, it’s crucial for investors to conduct thorough research and consider their risk tolerance before making investment decisions in the ever-evolving world of finance.
The post 3 Canadian Stocks Set to Explode in the Next Decade appeared first on The Motley Fool Canada.
Before you consider OpenText, you'll want to hear this.
Our market-beating analyst team just revealed what they believe are the 5 best stocks for investors to buy in August 2023… and OpenText wasn't on the list.
The online investing service they've run for nearly a decade, Motley Fool Stock Advisor Canada, is beating the TSX by 26 percentage points. And right now, they think there are 5 stocks that are better buys.
See the 5 Stocks * Returns as of 8/16/23
More reading
The 10 Stocks Every Canadian Should Own in 2023
Want the $1,855 Maximum CPP Benefit? Here’s the Salary You Need
More Canadian Stock Market News
Top Dividend Stocks of 2023
Subscribe to Motley Fool Canada on YouTube
Two New Stock Picks Every Month!
Fool contributor Amy Legate-Wolfe has positions in Shopify. The Motley Fool has positions in and recommends Shopify and Topicus.com. The Motley Fool has a disclosure policy.
These dividend stocks may be down, but don't count them out — especially in terms of monthly dividends! The post 3 Top Canadian Dividend Stocks That Pay Cash Monthly appeared first on The Motley Fool Canada.
STORY: Nestled in the northern Armenian town of Tumanyan, a derelict factory is roaring back to life.The once forgotten and decaying Soviet textile factory has been repurposed as a shelter and art space.It’s now a sanctuary for artists and other emigres from Russia, Iran and Ukraine, whose lives have been turned upside down by war and political turmoil. Polina Ivanova launched the project – called "Abastan" or shelter in Armenian – in late 2022.She says locals were unconvinced at first, but have since come accepted it.Reuters went to take a look in August and September of this year. "It’s a relationship that has become much better over time. I think at the beginning people were really weary and there was very little trust. And now every day there are more friendships, more trust. Sometimes there’s tension, but we are aware of that, we expect this to happen. But I think that for every moment of tension that arises, even every bit of conflict… eventually is productive for the relationship."The space now hosts creatives from around the world – from painters, to puppet-makers and photographers…Like Arghavan Majd – a painter from Iran.When she was interviewed a few weeks by Reuters she said that while the atmosphere in Armenia is still conservative in nature, she feels freer and more able to make personal connections. Since Majd left Iran, the country has been convulsed by protests over the death of Mahsa Amini in police custody.She says she now has no intention of returning home.Torfeh Ekhlasi, a puppet maker also from Iran, has used the town as a means of escape."If we compare Armenia to Iran, I feel that we sadder there. We are completely paralyzed by bad news… But here all the people are so alive."Also escaping is Danil.A software engineer from the Russian city of Perm, he left after President Vladimir Putin called up 300,000 men last year to fight in the war in Ukraine."I came here on October 14, 2022, after the partial mobilization was announced in Russia. I did not agree with the country’s politics and thought that it was dangerous to stay in Russia given my views. So I painted over a “Z” (pro-Russian war symbol) symbol on my house and left the country."How do the locals now feel about having become a haven for young emigres?68-year-old Ararat says the repurposed factory has helped breathe new life in the town of 1,000 people…Bringing joy to a place that had seen factory closures, unemployment and emigration since the collapse of the Soviet Union in the 1990s.
Investors can now get high yields from these Canadian dividend stocks. The post Canadian Investors: 2 Oversold TSX Stocks to Buy Now appeared first on The Motley Fool Canada.
Kennedy's party switch could be a spoiler for the 2024 election, as his independent bid threatens to siphon votes from both Joe Biden and his likely Republican challenger, Donald Trump
Blue-chip dividend stocks such as Enbridge can help you earn a stable stream of recurring income for life. The post How to Build a Bulletproof Passive-Income Portfolio With Just $20,000 appeared first on The Motley Fool Canada.
Canadian medical students trained abroad are struggling to get a residency in Canada, while the number of foreign nationals, or ‘visa trainees,’ getting a spot has increased by 70 per cent, a trend that advocates say needs to end.
PICKERING, Ont. — Durham police say an early-morning shooting at a casino in Pickering, Ont., has left an employee dead. Sgt. Joanne Bortoluss says police were called for shots fired at Pickering Casino Resort and arrived on scene shortly after 5 a.m., where they found a security guard suffering from gunshot wounds. She says 34-year-old Michael Ferdinand was transported to a Toronto-area trauma centre where he was pronounced dead. Bortoluss says a group of men and women, who arrived at the casin
Annual growth rings inside the ancient remains of Scots pine trees in the Southern French Alps have revealed evidence of the largest-known solar storm, one that might have fried satellites and knocked out electricity grids had it occurred today. Researchers said on Monday the solar storm – the sun sending a large burst of energetic particles into space – occurred 14,300 years ago. Evidence for it manifested as a huge spike in radiocarbon – an isotope, or form, of the element carbon – detected in the growth rings of the tree remains along the Drouzet River near the town of Gap.
It was 2.30am in Washington DC when White House officials were first alerted to a situation which will come to represent a truly bloody turning point.
Gaza is being pounded by airstrikes, setting the stage for a full-scale ground incursion by Israeli forces. The number of dead is constantly rising, with more than 700 people already killed on the Israeli side and as many as 400 killed in Palestinian territory. Israeli Prime Minister Benjamin Netanyahu is threatening to turn Gaza into a “deserted island” in retaliation. Jeff Semple is in Jerusalem with the latest on the ground.
The coming years could be “massive” for this industry.
The shocking new war in Israel could affect oil and gasoline prices in 2024, along with President Biden's reelection odds.
RRSPs become taxable upon retirement. You may wish to invest some of your money in a Tax-Free Savings Account, with stocks like Fortis Inc (TSX:FTS). The post The Sad Truth About Maxing Out Your RRSP appeared first on The Motley Fool Canada.
Since my June forecast for $100 billion in sales, estimates have risen another 50% to $80B
We have narrowed our search to five U.S. corporate behemoth providing more than 40% returns year to date with more upside left. These are: AMZN, NVDA, SNPS, UBER, AMAT.
With its stock down 6.4% over the past month, it is easy to disregard Nutrien (TSE:NTR). However, stock prices are…
You never knew you needed these — but you absolutely do.
The richest Americans are emerging from the coronavirus pandemic with their share of wealth and income on the rise again despite some thought that the tight job market and hefty wage gains spawned by the crisis might narrow the gulf between rich and poor. Recent data from the Federal Reserve shows the top 1% of households by income held roughly 26.5% of household net worth at the end of June, up about 1.5 percentage points since 2019, the year before the pandemic bounced the economy between recession, massive government stimulus and high inflation. For the bottom 40% by income that means a smaller slice of the pie even as their net worth has risen at the swiftest pace in years.
Oil prices jumped and stock markets around the world mostly slumped after deadly attacks by Hamas from the Gaza Strip prompted Israel to declare war.The price of a barrel of West Texas Intermediate oil jumped by almost $5 to more than $86 US a barrel on Monday, mostly on concerns that the volatile situation could ensnare more countries in the region.Israel is a marginal oil producer, but nearby nations in the Middle East are major suppliers, and if they get involved in the fighting, global suppl
This month, Costco members may wonder whether they should add gold to their shopping lists. Gold bars specifically, that is. Two types of gold bars are currently for sale at Costco. These include the…