As we wrap up 2024, it’s the perfect time to reflect on some of the surprising performances in the Canadian stock market. While the year has been full of twists and turns, several stocks have far outpaced expectations, delivering impressive gains. Here are a few that truly stood out.
Celestica: A breakout year driven by AI
Celestica (TSX:CLS) had a truly explosive year in 2024. The stock skyrocketed, multiplying investors’ money by 3.5 times. This surge is largely attributed to the company’s booming Connectivity and Cloud Solutions (CCS) segment, which saw a remarkable 42% revenue growth year over year last quarter thanks to the artificial intelligence (AI) boom. Although its Advanced Technology Solutions (ATS) segment faced a 5% revenue dip, the overall company still posted a 22% increase in year-over-year revenue, reaching US$2.5 billion.
Year to date, Celestica has seen a 22% revenue boost to US$7.1 billion and a 34%…
