Most Canadian tech stocks have delivered impressive gains over the past several years. Thanks to this momentum, the S&P/TSX Information Technology Capped Index reported gains of 37.3% in one year. Further, the index is up about 138.7% in five years, reflecting the sector’s ability to generate solid growth and create substantial wealth for investors.
Notably, investors’ enthusiasm over artificial intelligence (AI) technology, growing penetration of omnichannel commerce, and ongoing digital transformation are some of the key factors supporting the rally in tech stocks.
Looking ahead, the uptrend in tech stocks will likely sustain, driven by the deployment of AI technology across industries. Further, continued investments in multi-channel commerce and digital transformation will likely support Canadian stocks in the tech sector.
So, for investors looking to capitalize on the megatrends in the tech space, here are three tech stocks to buy in February.
Celestica
Celestica (TSX:CLS) is one of the top Canadian tech stocks to buy in February. While shares of this electronics manufacturing services (EMS) and supply chain solutions provider have gained significantly, the momentum will likely sustain in 2025 and beyond.
Celestica stock has gained over 289% in one year. This surge reflects robust demand from its Hyperscaler customers in the Connectivity & Cloud Solutions (CCS) segment, particularly for networking products within its Hardware Platform Solutions (HPS) business.
Despite recent concerns raised by DeepSeek’s R1 large language model launch impacting Celestica’s stock, the company’s management remains optimistic. They anticipate a neutral to positive impact from DeepSeek’s R1 over the coming years. Celestica’s AI/ML compute business is well-positioned for growth, driven by ongoing programs and new contracts expected to ramp up through 2025 and 2026. Further, the company sees significant opportunities in its networking business, which forms the core of its Hyperscaler revenue.
The increasing adoption of AI, driven by potentially lower training costs, is expected to drive demand for high-bandwidth, low-latency networking infrastructure. This trend positions Celestica favourably as a leading provider of networking solutions and will likely support its share price.
Shopify
Shopify (TSX:SHOP) is another solid tech stock to buy now. The company provides a multi-channel commerce platform and will benefit from the shift towards omnichannel selling models. Despite challenging macroeconomic conditions, Shopify has consistently recorded growth in its gross merchandise volume (GMV), a strong indicator of sustained demand for its integrated platform and the adoption of its innovative product offerings.
Shopify’s focus on expanding sales and marketing channels and rolling out new products is expected to boost its merchant base and GMV. Additionally, opportunities in the offline retail and B2B sectors, coupled with increasing adoption of Shopify’s payment solutions, will likely strengthen its financial performance.
Shopify’s investments in AI, emphasis on operational efficiency, and strategic expansion initiatives position it well to deliver solid growth.
WELL Health
Investors could consider buying WELL Health Technologies (TSX:WELL) stock in February. The digital healthcare company has consistently delivered solid financials and profitable growth. Further, this momentum in its business will likely sustain, driven by the strength in its Canadian Patient Services, higher omnichannel patient visits, and focus on strategic acquisitions.
Further, WELL Health’s focus on expanding its clinical offerings and solid growth opportunities in the high-margin affiliate clinic licensing business will support its cash flows and enable it to reduce debt. The company is leveraging AI technology to provide new solutions, which augurs well for long-term growth.
