Invest in two standout TSX tech stocks for March 2024!

Kalkine Media - Given the robust performance of the tech sector in the Canadian stock market and the potential for further growth, investing in quality TSX tech stocks could be beneficial for investors looking for long-term returns. Here are two such tech stocks worth considering for investment in March 2024:

BlackBerry (TSX:BB) (TSX: BB):

• Despite its strong growth prospects in areas like cybersecurity and the Internet of Things, BlackBerry is trading at a low valuation, making it an attractive investment opportunity.
• The company has diversified its focus into developing advanced machine learning and AI-based solutions for the automotive industry, such as its intelligent vehicle data platform, IVY.
• BlackBerry's enterprise cybersecurity business remains well-established, providing a stable revenue stream.
• Despite a 12.3% decrease in its stock value in 2024 so far, BlackBerry's current share price of $4.12 presents an opportunity for investors to buy on the dip.
• With a market capitalization of $2.4 billion, BlackBerry has the potential to rally and yield solid returns in the long run as demand for its technological solutions increases.

CGI (TSX: GIB.A):

• CGI, a Montréal-based IT and business consulting firm, has demonstrated strong financial growth despite macroeconomic challenges.
• In fiscal year 2023, CGI reported positive revenue growth of 11.1% YoY, reaching $14.3 billion, and its adjusted annual earnings increased by 15.3% YoY to $7.07 per share.
• The company's strong cash flows and financial base enable it to invest in future growth and return money to shareholders through share buybacks.
• CGI is focusing on utilizing AI technology to modernize its service portfolio, which is expected to drive cost efficiencies and further improve profitability.
• With a market cap of $32.6 billion and a recent share price of $158.01, CGI presents a compelling investment opportunity for long-term growth.

Both CGI and BlackBerry offer promising growth opportunities in the tech sector, making them suitable additions to investors' portfolios in March 2024.

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