The technology sector has witnessed solid buying this year, with the information technology-weighted Nasdaq Composite Index rising around 33% year-to-date. The increased usage of AI (artificial intelligence) and digitization of business processes have boosted tech companies' financials and stock prices. Meanwhile, I expect the uptrend to continue and will be bullish on the following three Canadian tech stocks.

WELL Health Technologies

WELL Health Technologies (TSX:WELL) is a digital healthcare company that develops technology and services to aid healthcare professionals in improving patient outcomes. Supported by solid financials and continued acquisitions, the company has witnessed healthy buying, with its stock price rising by 87.8% year-to-date.

Meanwhile, digitizing clinical processes, growing adoption of virtual services, and increased usage of software solutions in the healthcare sector have created multi-year growth potential for WELL Health. The company is also investing in AI to develop innovative products and strengthen its position in the digital healthcare sector. It also focuses on inorganic growth and has a solid acquisition pipeline with 17 signed LOIs (letters of intent) and definitive agreements. Along with these growth initiatives, the company's cost-cutting initiatives could boost its profitability.

Further, WELL Health is working on spinning out WELLSTAR Technologies, a pure-play software-as-a-service (SaaS) technology company that services around 37,000 healthcare providers. The spinoff, which the management expects to complete by the end of next year, offers an attractive investment opportunity in a SaaS healthcare technology segment. Also, its valuation looks cheap, with the company currently trading at 1.6 times analysts' projected sales for the next four quarters, thus making it an excellent buy.

Celestica

Celestica (TSX:CLS) is another stock that has delivered impressive returns this year, given its exposure to the high-growth AI sector, solid quarterly performances, and new product launches. Year-to-date, the electronics manufacturing services provider is up around 236% and has delivered around 813% returns in the last two years. Despite the massive surge, the company trades at a reasonable valuation, with its NTM (next 12 months) price-to-sales multiple of 1.1.

Moreover, the rising investment in expanding AI infrastructure has increased the demand for Celestica's products, including high-performance computing switches and storage units. Also, the recovery in commercial air travel and increasing defence budgets amid ongoing geopolitical tensions could support its financial growth in the coming years. So, I expect the rally in Celestica's stock price to continue.

Shopify

Shopify (TSX:SHOP), which supports various businesses through its unified commerce platform, has returned over 51% this year. Meanwhile, the growing adoption of omnichannel selling and its geographical expansion has created multi-year growth potential for the company. Besides, the company continues to launch innovative products to meet the needs of various customers across segments, sizes, and geographies, thus expanding its customer base and driving GMV (gross merchandise value).

The e-commerce platform recently introduced offline payment support to ensure uninterrupted sales even during network disruptions. It also offers personalized experiences by allowing customers access to Shopify bundles, which have been gaining traction among mid-market merchants. Further, the company's B2B business has delivered triple-digit growth for five consecutive quarters and could continue its uptrend, thus supporting its financial growth. The company's profitability and cash flows are also improving, making it an opportune buy despite its expensive valuation.