The heightened geopolitical tensions, trade-related challenges, and fear of rising inflation could keep the equity market volatile. However, Canadian companies with durable demand and structural growth drivers are better positioned to navigate uncertainty and generate consistent returns. So if I had $2,000 to invest today, I’d consider top-quality growth stocks first.
With this background, here are two Canadian stocks I’d consider now.
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Top Canadian stock #1: Celestica
Celestica (TSX: CLS) is a top Canadian stock I’d consider first if I had $2,000 to invest today. The data centre infrastructure and advanced technology solutions provider offers exposure to the accelerating buildout of AI infrastructure. It is benefiting from a surge in demand for high-performance networking equipment. A key growth driver has been its expanding production of 800G networking switches, primarily for hyperscale cloud providers scaling their AI capabilities.
Although the stock has already posted impressive gains over the past three years, the broader industry trend suggests there may still be meaningful upside. Major cloud companies continue to pour capital into AI infrastructure, focusing on more complex and integrated data centre designs. This ongoing investment supports steady demand for Celestica’s products and creates a solid foundation for further growth.
Celestica’s recent financial performance and outlook support its investment case. It recently reported robust quarterly growth, largely driven by the ramp-up of AI and machine learning compute programs for a major hyperscaler customer. This is not a one-off catalyst but part of a broader scaling cycle expected to extend through 2026, characterized by higher production volumes and accelerating revenue contributions from AI-linked programs.
Looking ahead, Celestica’s management expects strength to extend into 2027. Investment in AI by hyperscalers and digital-first businesses remains high, and the communications segment alone is projected to grow rapidly, supported by multiple 800G programs.
Overall, Celestica is well-positioned to capitalize on long-term AI demand trends and deliver solid returns over time.
Top Canadian stock #2: MDA Space
The global space economy is witnessing significant growth, driven by rising demand for next-generation communications infrastructure, Earth observation, and defence capabilities. With governments and the private sector investing in space technology, companies operating in the sector appear to be a compelling thematic opportunity for long-term investors.
Within this context, I’d consider investing first in MDA Space (TSX: MDA). The space technology company operates across key segments, including satellite systems, geointelligence, and advanced robotics, and is well-positioned to benefit from defence and space infrastructure spending.
MDA Space stock has rallied significantly. Moreover, this upward momentum in the stock is likely to be sustained, driven by strong demand trends and a notable backlog.
MDA Space’s backlog was $4 billion as of fiscal 2025. This provides a solid near- to medium-term revenue foundation. Beyond this, MDA Space’s $40 billion growth pipeline highlights the scale of its long-term opportunity. The pipeline is diversified across both government and commercial customers and spans multiple geographic markets.
Overall, the accelerating demand for space-based infrastructure and defence-related capabilities, along with a solid backlog, positions MDA Space to deliver significant returns.
