2 Canadian Growth Stocks I Expect to Skyrocket in the Next Year

With strong growth prospects, expanding market opportunities, and durable demand drivers these TSX stocks could skyrocket.

Key Points
  • Stocks benefitting from the rapid adoption of AI, growing energy demand, and breakthroughs in space technology are set to skyrocket.
  • Celestica could continue its strong rally as surging AI and data center demand, new customer wins, and next-generation networking products drive revenue growth.
  • Aritzia remains a compelling growth stock thanks to strong brand demand, rapid e-commerce expansion, and new boutique openings.

Several Canadian growth stocks have generated impressive returns this year, but the rally may be far from over. Secular trends, including the rapid adoption of artificial intelligence (AI), growing energy demand, and breakthroughs in space technology continue to create attractive opportunities for investors.

With strong growth prospects, expanding market opportunities, and durable demand drivers, here are two Canadian stocks poised to skyrocket in the next year.

Rocket lift off through the clouds

Source: Getty Images

Canadian growth stock #1: Celestica

Celestica (TSX: CLS) is a top TSX growth stock well-positioned to skyrocket over the next year. The company supplies advanced networking equipment and data centre solutions that are experiencing strong demand, driven by AI.

While Celestica’s shares have delivered strong gains over the past three years, the growth story may be far from over. Rising AI-related spending by hyperscalers is expected to support continued revenue growth through 2026 and beyond.

Celestica’s outlook remains solid. New customer wins and a growing backlog are expected to support future growth. Revenue is projected to increase by more than $6.5 billion in 2026, with even stronger growth anticipated in 2027.

A key growth driver is Celestica’s communications infrastructure business. Demand for its 800G Ethernet switch programs remains strong, while the upcoming production of next-generation 1.6T switches for hyperscale customers could provide another significant boost in the second half of the year.

The company is also expanding its presence in AI and machine-learning computing. Production volumes are expected to rise throughout 2026, with additional momentum likely as new rack-scale computing programs enter mass production and customers deploy next-generation AI platforms.

Although supply-chain constraints remain a near-term challenge, improving component availability and expanding manufacturing capacity should help Celestica capitalize on a growing pipeline of opportunities.

With expanding customer demand, new program wins, and exposure to high-growth networking and AI compute markets, Celestica appears well-positioned to deliver strong growth over the next several years, which should support its share price rally.

Canadian growth stock #2: Aritzia

Aritzia (TSX: ATZ) may seem like an unexpected addition to this list. Unlike many high-growth stocks related to trendy sectors such as AI, renewable energy, or space technology, Aritzia operates in the consumer discretionary space. However, its ability to perform well across a variety of market environments, combined with a loyal customer base and an expanding boutique network, makes it a compelling growth story.

The retailer continues to deliver impressive results, supported by strong traffic across both its physical stores and digital channels. Demand for its exclusive in-house brands, a steady flow of new products, and an elevated customer experience have helped fuel consistent sales growth. At the same time, Aritzia has demonstrated strong operational discipline, with adjusted earnings rising rapidly due to lower markdown activity and effective cost controls.

Supporting Aritzia’s growth has been its digital business. E-commerce revenue has grown at an annualized rate of 23%, highlighting the effectiveness of Aritzia’s omnichannel strategy.

This strong execution has translated into exceptional shareholder returns. Over the past 12 months, Aritzia shares have surged more than 142%, significantly outperforming the broader market. As the company continues to expand its boutique footprint and deepen customer relationships, the stock could have further room to run.

Strong demand driving double-digit sales growth

Looking ahead, Aritzia appears well-positioned to sustain its momentum. Strong demand for its exclusive brands, combined with a robust pipeline of boutique openings, should support continued double-digit sales growth. The company is also investing heavily in its digital platform and mobile shopping experience, initiatives that are expected to further enhance customer loyalty and drive revenue growth.

While tariffs could create near-term margin pressure, Aritzia’s inventory management, focus on full-price selling, and operational efficiencies should help mitigate those headwinds. With multiple growth drivers in place and a proven ability to execute, Aritzia remains well-positioned to deliver solid growth over the next year.

Fool contributor Sneha Nahata has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Aritzia. The Motley Fool recommends Celestica. The Motley Fool has a disclosure policy.

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