The stock markets are reviving after a pullback in March 2026 due to the war in Iran. The war came as a shock and redirected capital away from tech and gold stocks toward oil. Traders rushed to make short-term gains from the oil supply shock. As we saw with the Russia-Ukraine war and the Venezuela oil crisis, markets overcome the shocks and return to fundamental growth. Several tech and gold stocks bounced back in April.
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2 TSX stocks to buy aggressively the next time markets pull back
Celestica stock
After falling 27% in February and early March 2026, Celestica (TSX: CLS) stock has surged 60%. It shows no signs of slowing. If only you had bought the stock during the market pullback.
One reason for the decline is a report from Digitimes that Google may potentially shift tensor processing units (TPUs) assembly work away from Celestica. The companies did not confirm the reports, but it pulled the stock down as investors feared loss of a hyperscale client.
Celestica has grown from being an assembler and electronic manufacturer to a custom Original Design Manufacturer (ODM). In the fourth quarter 2025 earnings call, its CEO stated that it has secured a significant order for a 1.6T networking switch platform from a third hyperscaler customer. Having one hyperscaler alone means significant volumes, and Celestica now has three.
In March 2026, Celestica collaborated with Advanced Micro Devices to design and manufacture networking switches for the latter’s “Helios” rack-scale artificial intelligence (AI) platform. This hints that Celestica will significantly exceed its 2026 revenue guidance of $17 billion.
Celestica is building manufacturing capacity in Taiwan and a high-performance system design center in Austin, Texas. Once these capacities come online, revenue could grow even further, making Celestica a buy as the AI data centre growth cycle is heating up once again.
Kinross Gold stock
After falling 28% in March 2026, Kinross Gold (TSX: K) stock has surged 32% to $47.88 and has still not reached its January high of $53.57. The stock fell as the gold price crashed due to rising crude prices. The Iran war diverted world central banks’ gold buying momentum as many countries struggled to control inflation without increasing interest rates.
Buying crude at higher prices further encouraged them to build more gold reserves amidst geopolitical uncertainty, wars, and de-dollarization. The gold supply is limited, and central bank buying will only increase the price of gold.
Kinross Gold is one of the largest gold mining companies having mines in Brazil, the U.S., Chile, and Mauritania. It plans to produce two million ounces of gold in 2026 at an all-in-sustaining cost of US$1,730/ounce. It generates a higher free cash flow (FCF) of $1,237 per ounce of gold produced compared to larger mines, representing a FCF yield of 10%.
Its stock is sensitive to the gold price, as a higher price fetches it more value for its inventory and achieves higher FCF. Gold price will continue to rise amidst geopolitical tensions, making Kinross a stock to buy aggressively on the next dip.
