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2 TSX Stocks for a Legit Shot at $1 Million in 20 Years

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Written by Chris MacDonald at The Motley Fool Canada

Nearly all investors with big-time gains over the long term have seen a majority of their portfolio gains result from long-term capital appreciation. To achieve this feat, such investors usually purchase high-growth stocks which can exhibit significant growth over a long investment horizon.

However, for the success of this strategy, choosing the right companies is a must. They must have strong financials as well as adequate long-term growth prospects. Here are two Canadian stocks investors can consider.


Shopify (TSX:SHOP) is a Canadian e-commerce giant which runs operations across the U.S., Asia, Asia Pacific, the U.K., Latin America and the Middle East. Notably, Shopify recently entered into an agreement with Amazon to add the “Buy with Prime” feature on its platform. This is a key integration many investors point to as a growth catalyst worth betting on for the long term.


This will not only enable Prime members to avail fast deliveries from Shopify but also make payments to the latter using Amazon wallet. For Shopify merchants, it is an excellent opportunity to access a new customer base and increase their business’s outreach.

Additionally, in the second quarter (Q2) of 2023, Shopify’s total revenue rose by 31%, with figures reaching US$1.7 billion. Its merchant solutions revenue and subscription solutions revenue reached US$1.3 billion and US$444 million, indicating 35% and 21% growth, respectively.

Shopify is also integrating AI solutions on its platform. For instance, Shopify Magic is a collection of AI-based features which help merchants seamlessly run their business. Also, there is Sidekick, an AI-powered commerce assistant, which can help businesses in ways like increasing operational efficiency, improving productivity, streamlining workflows and more.

In terms of growth catalysts, Shopify is a company that appears to be firing on all cylinders. In 2023, so is its stock price. Thus, for those seeking both momentum and growth, SHOP stock appears to be a great pick right now.


Kinaxis (TSX:KXS) is an international cloud-based supply chain solutions provider. Interestingly, in August, Subaru decided to expand its usage of this company’s platform to streamline its supply chain management. Subaru’s U.S. subsidiary has already been using Kinaxis for demand and inventory planning.

But now, Subaru Japan has decided to make this company a part of its global supply chain. This is excellent news for investors as it will help Kinaxis increase its presence in the global cloud solutions market. Apart from this, the organization has developed new product innovations to facilitate end-to-end supply chain orchestration.

For instance, Enterprise Scheduling will facilitate the creation and management of global production scheduling strategies. Additionally, Supply Chain Execution will enable organizations to bridge the gap that exists between planning and execution.

Such offerings will help clients to take their supply chain management to a new level, thereby gaining increased operational efficiency, reduced costs and enhanced risk mitigation. For those seeking a company with a strong business model able to provide consistent and reliable growth, Kinaxis is a great choice.

Bottom line

Both stocks are in a position to facilitate significant capital appreciation in the long run. Thus, for a legit shot at $1 million, investors can consider buying and holding these stocks over the next 20 years.

The post 2 TSX Stocks for a Legit Shot at $1 Million in 20 Years appeared first on The Motley Fool Canada.

Should You Invest $1,000 In Kinaxis?

Before you consider Kinaxis, you'll want to hear this.

Our market-beating analyst team just revealed what they believe are the 5 best stocks for investors to buy in August 2023... and Kinaxis wasn't on the list.

The online investing service they've run for nearly a decade, Motley Fool Stock Advisor Canada, is beating the TSX by 26 percentage points. And right now, they think there are 5 stocks that are better buys.

See the 5 Stocks * Returns as of 8/16/23

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John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Fool contributor Chris MacDonald has positions in The Motley Fool has positions in and recommends Shopify. The Motley Fool recommends and Kinaxis. The Motley Fool has a disclosure policy.