Young TFSA (Tax-Free Savings Account) investors should be thinking about growing their wealth in a low-risk way over the course of many years or decades. Indeed, being too cautious with TFSA funds may not be all too ideal for young investors who have 25 years or more to invest. That being said, such young and new investors shouldn't "chase" hot stocks or seek the "growthiest" play in the market.

Often, the hottest growth plays on the forefront of the latest technological trend (it's artificial intelligence, or AI, nowadays), which can lead investors to pay up hand over fist for a business that could be in for a painful valuation reset. Remember, best-in-breed companies can lose you money if you pay too much of a premium. In the case of various AI chip stocks, you'll pay a hefty multiple that bakes in massive growth. And if such growth peaks out earlier than expected, the potential corrective downside could have the potential to be sizeable.

Not to dismiss the entire AI space as a bubble, but I find it very hard to value without making bold assumptions about the state of the AI race and the timing of demand. The AI firms themselves could thrive and their stocks may be little moved. At the end of the day, it all comes down to expectations. And if the bar is set too high, even exceptional results can lead to a swift correction or even a crash.

That's why I'd much rather stick with less-loved tech firms with proven track records and slightly less in the way of hype. In this piece, we'll look at two such names.

Apple

Apple (NASDAQ:AAPL) is a fantastic company that Canadian investors should strive to own whenever the stock tanks by a reasonable amount. Today, the company is treading water alongside most other mega-cap tech firms as the sector faces what appears to be a bit of a road bump. The big question is whether the bump in the road will lead the titans to skid off the road.

I don't think it will be for Apple. Many analysts see a big iPhone 16 upgrade cycle ahead. And if they're proven right, the stock could easily continue moving higher from here. Indeed, the iPhone 16 phone itself isn't all too big an upgrade from the 15, at least in my opinion.

However, the real test for Apple will be how its AI service, Apple Intelligence, fares once it kicks off later this year (and next year for certain countries).

My take?

Give AAPL stock time, and I think you will be rewarded over the years.

Shopify

Shopify (TSX:SHOP) stock is another tech staple that could make for a nice long-term TFSA core holding. The stock has been a wild ride this year, moving in both directions by considerable percentage amounts.

As Shopify looks to continue doubling down on various tech trends to improve its e-commerce offering while awaiting the next big consumer spending boom, I think $90-100 looks like an attractive entry point for TFSA investors seeking a name to hold for a decade or more.

Recently, Chief Executive Officer Tobias Lütke announced his intent to sell over $200 million in shares. That may be a red flag for some. However, I think SHOP stock is worth owning on the way down if you don't already own a stake. Between Apple and Shopify, I'd have to go with the former over the latter. It's just the timelier stock as Apple looks to sell more iPhones ahead of its big iOS update.