As the stock market continues to be bearish, its transition to a bull phase is not far off. Investors can take advantage of this situation by purchasing shares of those companies that have strong growth potential in the long term. Once the bull cycle arrives, it is expected that prices of these growth stocks will automatically start to rise. Having such assets in their portfolios can provide investors with market-beating returns.
Here are two stocks which can be eligible for this scenario.
Top growth stocks to buy: Kinaxis
Kinaxis (TSX:KXS) is a Canadian multinational supply chain software provider with markets in the U.S., U.K., Germany, India, France, etc. According to recent reports, Alstom has decided to team up with Kinaxis for availing industrial planning management support.
Alstom is an international leader in smart mobility solutions and currently has operations in more than 50 production sites. By opting for Kinaxis’s RapidResponse solution, they are planning to streamline their supply chain management.
Moreover, according to data published on March 29, 2023, Kinaxis will now be available on the Microsoft (NASDAQ:MSFT) Azure Marketplace. This will enable all Azure users to access world-class business planning and response management software solutions on a trustable cloud platform.
Open Text
Open Text (TSX:OTEX) is a developer and distributor of information management solutions. As of data published on March 1, 2023, Canadian pharma giant Bayer has decided to opt for its business network cloud enterprise. This will enable the latter to streamline its business-to-business integration activities in its Consumer Health and Pharmaceuticals segment.
Thus, day-to-day activities like screening transactions, onboarding partners, system management, etc., will become much easier, enabling Bayer to focus more on its core business.
Additionally, Open Text has released Cloud Editions 23.1 as one of the latest innovations in its Project Titanium. It will integrate AI-based applications in cloud-based information management to make activities more seamless. This will help organizations effortlessly connect and collaborate with their employees, partners, and customers within the ecosystem. It will also assist in speeding up their digital transformation.
Bottom line
Given the fact that digital integration will increase across all industry segments in the upcoming years, both these tech companies have strong growth potential. Their collaborations and software releases have set them on the track of long-term growth, thus making them excellent choices to gain from the upcoming bull market.
