Canadian investors may have become a bit too focused on losses right now. And, granted, you have a good reason. Shares of the TSX trade 14% lower than 52-week highs. You’d be right to feel like growth stocks are simply not available right now.
In my view, the reverse is true. Right now, practically anything could be a growth stock. But of all of them, I think right now is the best time to get in on some of the top growers on the entire planet. And that means looking at the dreaded tech industry.
Tech stocks offer Motley Fool investors significant growth, but you have to know where to look. And honestly, it’s not that difficult. In my view, these are the three tech companies that could provide Motley Fool investors with the most growth now and in the years to come.
Walt Disney
Walt Disney (NYSE:DIS) may have been around for almost 100 years, but lately, it’s like an exciting new player when it comes to streaming services. It’s like the company decided to sit back, watch and wait for the right moment to pounce. Now that they have, they’ve claimed the top spot among streaming services in my book.
That comes from a variety of reasons. Disney stock managed to not only claim the Star Wars and Marvel franchises, creating series to go along with the insanely popular movies. They’ve also put down all their classics, as well as purchased up even more new shows for viewers to watch. That now includes everything from The Kardashians to award-winning National Geographic documentaries.
The proof is in the numbers, with even more users signing up for its streaming services. The second quarter saw revenue grow 23% year over year, with earnings per share reaching $0.89, almost double the year before.
Yet shares are down 39% year to date, making it a great time if you’re looking for growth stocks set to rebound. It looks like the only reason Disney is down is due to being a tech stock.
Alphabet
That goes for Alphabet (NASDAQ:GOOGL)(NASDAQ:GOOG), too. Alphabet grew so much that the company decided to hop aboard the stock-split train, making it a prime time for Motley Fool investors to consider it. If you’re looking for growth stocks, why not jump in at a far-lower share price?
In fact, you’d be hard pressed to find a better stock than Alphabet anywhere in the world. The company has a diversified portfolio that owns some of the biggest names when it comes to the tech sector. This includes YouTube, the Android operating system, and, of course, the Google search engine.
The company is looking to buy back shares thanks to all the cash it has on hand. And Motley Fool investors should do the same if they want in on growth stocks in the tech sector. Shares are down 9% year to date but up 153% in the last five years as of writing. So, you can get a great little boost from one of the planet’s best growth stocks.
Shopify
Finally, Shopify (TSX:SHOP)(NYSE:SHOP) remains a great option when you’re looking at growth stocks. But, of course, Motley Fool investors are wary right now. The company hasn’t done that great this year, even after a stock split that could have sent shares rising at such a low price.
Instead, shares are down an insane 76% year to date, just above 52-week lows. Ouch. But it’s still one of the tech stocks I would consider if you’re a long-term investor. That’s thanks to the investment the company is making into its business.
Shopify stock’s focus on expanding its fulfillment centres is a long-term bet that will eventually pay off. While in the short term, investors may not be too happy about the purchase in this market, in the long term they’ll be quite pleased. And while it doesn’t feel that way now, e-commerce is certainly going to thrive well into the future. And Shopify stock will continue to be at the forefront of that industry.
