As the year winds down, December offers a great opportunity to evaluate potential investments and position your portfolio for long-term growth. The technology sector, known for its innovation and dynamism, presents promising options despite recent market volatility.

Of course, not all tech stocks are created equal, and the Canadian stock market only has so many blue-chip options to discuss. Thus, I've picked two top Canadian tech stocks and one U.S. giant I think investors may want to consider for the growth portion of their portfolios heading into 2025.

Open Text Corporation

Open Text Corporation (TSX:OTEX) is a leader in the enterprise information management sector. The company provides a range of solutions aimed at assisting organizations manage, analyze, and secure their data. Open Text's products cater to multiple industries, from financial services to healthcare, enabling businesses to thrive in the digital age.

OpenText has consistently reported revenue growth, supported by strategic acquisitions like Micro Focus. These acquisitions expand its product offerings, giving the company access to a broader client base. Unlike many tech stocks, OpenText pays a dividend, yielding around 3%. In my view, this dividend is emblematic of the sort of revenue and cash flow stability the company expects moving forward.

Indeed, with a focus on enterprise clientele, OpenText benefits from long-term contracts and recurring revenue streams. This makes the company much less vulnerable to economic downturns. With the global explosion of data, businesses prioritize effective data management and cybersecurity. OpenText is uniquely positioned to benefit from this trend through its suite of information governance, security, and analytics solutions.

Shopify

Shopify (TSX:SHOP) has established itself as a global leader in e-commerce solutions, empowering businesses to create, manage, and scale their online presence. With its innovative platform and a growing ecosystem of services, Shopify represents a compelling investment opportunity heading into 2024.

Shopify has demonstrated strong financial growth, particularly in its recent third-quarter results. The company reported a 26% year-over-year increase in revenue, reaching $2.2 billion, surpassing analyst expectations. In addition, operating income rose by 132% to $283 million, indicating improved operational efficiency. The company's free cash flow increased by 53% year-over-year to $421 million this past year, enhancing financial flexibility.

Shopify is investing in its logistics network, including acquisitions like Deliverr, to streamline shipping for merchants and improve delivery times. The company is leveraging AI to provide predictive analytics, customer insights, and personalized recommendations for merchants. Moreover, Shopify's integration with Amazon's Buy with Prime feature and collaborations with major social media platforms enhance its functionality and visibility.

Amazon

Amazon (NASDAQ:AMZN) presents an exciting opportunity for all investors (Canadian and outside of Canada) to benefit from strong growth trends within the e-commerce and cloud sectors globally. This is a top tech giant that really needs no introduction. However, I do think it's important investors consider the company's dominant market position in its core segments as key to the story here, in terms of how much sheer cash flow Amazon is able to spit off each and every quarter.

Amazon has shown resilience through tough economic periods and is optimizing its cost structure. The company's efforts to streamline operations and reduce expenses have yielded results, leading to better margins. In addition, analysts project strong revenue growth over the next year, driven by AWS, advertising, and retail operations.

Additionally, the company's investments in logistics, AI, and international expansion set it up for sustainable growth. Its focus on faster delivery times enhances customer satisfaction and competitive positioning. Over the long term, I expect Amazon's ongoing investments to continue to provide very measurable benefits for investors over a very long time.