Many investors are searching for the best high-growth stocks, or companies experiencing above-average revenue or net income growth. Investors purchase these stocks with the expectation of rapid share price appreciation aligned with the company’s strong growth.

Growth stocks differ from income stocks, which offer steady dividend payments, and value stocks, which are sought after for potential price rebounds. And it’s clear which group investors favor in 2023.

Year to date, the Vanguard Growth Index Fund (NYSEARCA:VUG) is up 25.5%, compared with a -0.4% return for the Vanguard Value Index Fund (NYSEARCA:VTV) and -2.9% for the Vanguard High Dividend Yield Index Fund (NYSEARCA:VYM). The market has spoken.

Here are my top high-growth stocks to buy for June.

Microsoft (MSFT)

Microsoft (NASDAQ:MSFT) is a tech giant that is set to take advantage of the accelerated adoption of cloud computing. Microsoft’s Azure cloud platform has seen impressive growth in recent quarters and analysts expect this trend to continue for years to come.

A Credit Suisse analyst recently raised his price target on MSFT stock from $350 to $420. That implies upside of 28.5% from current levels. Meanwhile, a Wedbush analyst upped his target from $340 to $375.

Analysts’ bullishness on MSFT is stemming from the promise of artificial intelligence (AI). Microsoft is positioning itself to be a leader in the field with numerous investments, including a partnership with OpenAI. The integration of ChatGPT in the Bing search engine is already attracting users and offers huge potential.

For the current quarter, analysts project Microsoft will grow revenue 6.9%, while earnings are expected to jump 14.8%. The company has exceeded analyst estimates in each of the past three quarters. 

In recent news, Microsoft reportedly made a significant investment in CoreWeave, a cloud computing infrastructure startup. The deal, worth potentially billions of dollars over several years, follows CoreWeave’s successful funding round of $200 million and its recent valuation of $2 billion.

MSFT is up 36% year to date, but given the promise AI holds for the company, its run is likely just getting started.

Constellation Software (CNSWF)

Constellation Software (OTCMKTS:CNSWF) stands out in the tech industry. With a market capitalization of $43.9 billion, the Canadian firm specializes in acquiring and nurturing small tech businesses to fuel its own growth. Rather than investing in startups, Constellation Software focuses on small tech companies that are already generating revenue, helping them improve and thrive under its umbrella.

Constellation Software has seen a remarkable 155% surge in its share price over the past five years, nearly tripling the performance of the S&P 500. The stock has also outperformed in the near term, up 30% year to date and trading near an all-time high. 

The company announced its first-quarter results on May 15. Revenue increased 34% year over year, while cash flows from operations were up 27% from a year ago. Additionally, management declared a $1 per-share dividend. While that works out to a yield of just 0.2%, the income is just icing on the cake.

Constellation Software’s unconventional approach to the technology sector has yielded remarkable success, making it one of the high-potential growth stocks to put on your buy list.

Snowflake (SNOW)

Cloud-based data platform provider Snowflake (NYSE:SNOW) has participated in the rebound in tech stocks, rising 19% so far this year and 28% over the past 12 months. The company’s consumption-based model, or usage-based pricing, is attractive to consumers, although it provides less revenue visibility compared to a fixed monthly fee.

The company reported results for its fiscal first quarter on May 24, beating analyst estimates on the top and bottom lines. Yet, the stock plunged 16.5% on the day as management’s revenue guidance for the current quarter of between $620 million and $625 million fell short of the $649 million analysts expected.

Yet, investors were quick to buy the dip, with shares up more than 15% following their post-earnings drop. Even following management’s reduced forecast, analysts are predicting revenue growth of around 33% for the current quarter and the full fiscal year. Meanwhile, while they expect earnings to be flat this quarter, full-year earnings are estimated to jump 140%.

Formerly trading at over 140 times revenue with a nearly $120 billion market cap, SNOW stock now trades at about 24 times sales with a market cap of $58 billion.

While achieving a trillion-dollar market cap by the end of the decade seems like a stretch, SNOW may just be one of the best stocks for high returns as cloud computing stocks continue to rebound and AI algorithms advance.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.