Investing $10,000 today could set Foolish Investors on the path to life-changing wealth — if they pick the right mix of stocks and hold them for the long term. To build a winning portfolio, it’s important to strike the perfect balance between stability and growth, combining top stocks that can deliver consistent performance with those that have the potential for explosive returns.
By carefully choosing businesses with strong fundamentals and exposure to growing markets, you could expect to benefit from solid long-term gains while managing risk effectively. In this article, I’ll reveal two top TSX stocks that could turn your $10,000 investment into $100,000 over time.
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BlackBerry stock
If you’re looking for a top Canadian growth stock for a balanced portfolio, BlackBerry (TSX: BB) could be a great stock to consider. The Waterloo-based tech firm is currently known for its enterprise cybersecurity and IoT (Internet of Things) solutions. BB stock currently trades at $5.89 per share with a market cap of $3.5 billion, thanks to a solid 79% jump in its share price over the last two months.
In its latest quarter ended in November 2024, BlackBerry posted US$162 million in revenue, with impressive growth in its cybersecurity and IoT businesses. The IoT segment achieved a 13% sequential jump in sales due to the increasing adoption of its QNX platform, which already powers over 255 million vehicles globally. Meanwhile, the cybersecurity segment also grew by 7%, driven by its advanced security solutions for public and private organizations.
A key recent development was BlackBerry’s agreement to sell its Cylance endpoint security assets to Arctic Wolf for US$160 million. While the sale might appear to scale back its cybersecurity offerings, BlackBerry plans to maintain a partnership with Arctic Wolf to resell Cylance’s technology. This move could strategically streamline its operations, reduce costs, and place the Canadian tech firm on a faster path to profitability.
Moreover, BlackBerry’s combination of innovation, strategic partnerships, and targeted market focus makes it a standout pick. Now, let’s explore another promising TSX stock that complements BlackBerry’s growth potential with added stability.
Dollarama stock
When investing in a high-growth stock like BlackBerry, it’s important to balance your portfolio with a stable, resilient stock like Dollarama (TSX: DOL). As Canada’s leading discount retailer, it could be considered a dependable investment option with a proven track record of consistent growth.
Trading at $138.50 per share, DOL stock has a market cap of $38.5 billion. With a 47% increase in 2024, it marked the sixth consecutive year of delivering double-digit returns.
In its most recent quarter ended in October 2024, Dollarama achieved a 5.7% year-over-year increase in sales to $1.56 billion. Its comparable store sales grew by 3.3%, reflecting strong customer demand for its value offerings despite cautious consumer spending.
Dollarama is not just focused on maintaining its existing success but is also planning for future growth. It recently raised its long-term store target in Canada to 2,200 locations by 2034 and announced plans to build a $450 million logistics hub in Calgary to streamline operations and support its expanding network.
The Foolish bottom line
By combining Dollarama’s stability and consistent returns with BlackBerry’s growth potential, a $10,000 investment split between these two TSX stocks could give you some eye-popping returns over the long term. Both companies have strong fundamentals and seem well-placed to thrive in their respective industries.
