Even though the market is in a downturn right now, I’m not ready to give up on A-rated growth stocks. You shouldn’t be, either.

Some investors are in a tizzy right now because a temporary market correction is wiping out a lot of hard-earned gains from 2024. All three major indices are currently in the red, with the Dow Jones Industrial Average off 5%, the Nasdaq Composite down nearly 9%, and the S&P 500 off more than 6%.

But don’t panic. Every bull market has an adjustment on occasion, but that’s why it pays off to think of investments over the long term. Because when you think of a five-year or 10-year window, the pain that we’ve all experienced in the last month or so will be just a blip in our long-term success stories.

Investing in A-rated growth stocks during a market downturn might seem counterintuitive, but you have to remember that these companies also have strong fundamentals – and they are positioned to quickly recover once the market restabilizes.

In fact, this is an ideal time to even add to your positions in your favorite stocks, because many are discounted from where they were just two or three months ago.

I’m using the Portfolio Grader today to look for the best growth stocks on the market. These stocks, which earn their strong ratings based on analyst sentiment, growth history, earnings reports and momentum, are my top picks right now even in this rocky market.

Remember – don’t panic when the markets temporarily turn red. Instead, look for the best stocks and consider them temporarily on sale.

Nvidia (NVDA)

Nvidia (NASDAQ:NVDA) has long been at the top of my list of best A-rated growth stocks and I’m not changing gears now. In fact, I’m betting that the semiconductor company’s stock will advance higher after the company reports its second quarter fiscal 2025 earnings on August 28.

Nvidia holds an enviable position as the maker of the most powerful and sought-after graphics processing units that are needed to run generative artificial intelligence programs. That helped the company grow from a market capitalization of $470 billion two years ago to topping the $3 trillion mark, temporarily, earlier this year.

The bear case for Nvidia is that big tech giants aren’t going to pay tens of thousands of dollars for GPUs forever – it’s more economical to make their own. But I see that as speculative doomsaying. On top of that, hedge fund Elliott Management is promoting the idea that the generative AI trend is a bubble that’s about to burst.

The reality is that Nvidia stock is down 17% over the last month. It’s forward price-to-earnings ratio is down below 40x, which is appealing for a company that showed 262% year-over-year revenue growth in the first quarter of fiscal 2025.

Nvidia stock is on sale, if you’re still a believer then this is price point is pretty appealing. NVDA stocks gets “A” ratings for growth and overall in the Portfolio Grader.

Coinbase Global (COIN)

I’ve always liked Coinbase Global (NASDAQ:COIN) as an ideal way to invest in cryptocurrencies without actually holding an altcoin. That’s because Coinbase operates what’s arguably the leading cryptocurrency training platform around.

Coinbase’s platform offers investors the opportunity to buy and sell nearly 250 different cryptocurrencies. There’s something there for anyone who wants to delve into the market.

And I’m also interested in a recent development – OpenAI executive Chris Lehane joined Coinbase’s board of directors. Any relationship, even informal, between Coinbase and the makers of ChatGPT is interesting to me.

Coinbase already has its own generative AI platform, called CB-GPT, and is looking for ways to harness the technology into its business to improve efficiency and productivity.

Earnings for the second quarter included revenue of $1.44 billion, up from $707 million a year ago. The company posted net income of $36.1 million and earnings per share of 15 cents versus a loss of $97.4 million and an EPS loss of 42 cents in the second quarter of 2023.

Coinbase is up 11% so far this year, but is currently on sale following a 13% drop in the last month. The stock gets “A” ratings for growth and overall in the Portfolio Grader.

General Dynamics (GD)

General Dynamics (NYSE:GD) is a defense contractor that works closely with the federal government on a variety of contracts.

The company makes everything from Gulfstream business jets to nuclear-powered submarines. It also makes guided missile destroyers, tanks and armored fighting vehicles.

The company had an outstanding second quarter, with revenue of $12 million that was up 18% from a year ago. Earnings of $1.2 billion showed better than 20% growth from the same quarter a year ago, and earnings per share was $3.26, an improvement of 20.7%.

If there’s anything to be concerned about, it’s that the book-to-bill ratio fell slightly, showing a ratio of 0.8-to-1. But General Dynamics still carries a backlog of $91.3 billion, so it’s not as if the company’s in danger.

On top of that, global conflicts in Ukraine, the Middle East and underlying tensions between the U.S. and China ensures that defense spending will continue to be a top priority for the U.S. government. And that’s good news for GD shareholders.

General Dynamics stock is up 10% so far this year. It gets a “B” rating for growth and an “A” rating overall in the Portfolio Grader.

UBS (UBS)

I’m impressed with UBS (NYSE:UBS), the European bank that provides financial services in 50 countries.

While it’s perhaps best known for global wealth management, UBS also provides personal banking, corporate banking and asset management.

A year ago it announced purchased Credit Suisse Group for $3.4 billion in an all-stock deal that was made possible by Credit Suisse being badly damaged by a downturn in the U.S. banking sector in March 2023.

While the merger was finalized last year, the banks continued to operate separately until this summer, when UBS finally deregistered Credit Suisse.

When one bank takes over a troubled competitor, it’s usually a great deal for shareholders because the damaged bank typically can be bought for a discounted price. That’s what happened with UBS, as the company’s profits have soared since the merger.

Earnings for the first quarter included revenue of $12.7 billion, up from $8.7 billion a year ago. Profits were $1.7 billion and 52 cents per share versus $1.02 billion and 32 cents per share a year ago.

UBS stock is down 8% so far this year, but it still gets “A” ratings for growth and overall in the Portfolio Grader.

Piper Sandler (PIPR)

Piper Sandler (NYSE:PIPR) is an investment bank based in Minneapolis. The company focuses on funding mergers and acquisitions, restructuring of companies, private placements and making deals in equity and debt capital markets.

Investment banks like Piper Sandler can be great picks for investors looking for growth stocks. They can generate great profits through underwriting, advisory services for mergers and acquisitions, trading, and asset management.

When these banks perform well, their stocks can yield high returns for investors.

Piper Sandler’s revenue for the second quarter was up significantly – reaching $339.1 million versus $288.7 million a year ago. Much of the growth was in the institutional banking segment, which grew from $183.9 million a year ago to $259.7 million in this quarter.

The growth helped Piper Sandler achieve net income of $34.7 million and $1.97 per share versus only $3.9 million and 23 cents per share a year ago.

PIPR stock is up 5% so far this year and gets a “B” rating for growth and “A” rating overall in the Portfolio Grader.

Costco Wholesale Corporation (COST)

When the economy is bad, one of the best places to invest are grocery stores that specialize in discounted merchandise.

After all, people always have to eat and get consumer staples, and stores that help shoppers stretch their paycheck and battle inflation will always be in demand.

That’s why I like Costco Wholesale Corporation (NASDAQ:COST). It operates 900 warehouse stores that offer everything from food to clothing and appliances. Net sales in July were $19.26 billion, up 7.1% from a year ago.

I also appreciate that Costco is increasing by $5 annually for basic memberships and $10 annually for executive memberships. The company got $1.12 billion from membership fees in the third quarter of fiscal 2024, so that number should increase.

COST stock is up 24% this year, but notably has fallen 8% in the last month. That makes it an appealing buy right now, and is why COST stock gets a “B” rating for growth and an “A” rating overall in the Portfolio Grader.

Celestica (CLS)

Celestica (NYSE:CLS) is a technology and communications company. It provides manufacturing, hardware platform and supply chain expertise for its customers in the communications, aerospace, healthcare, industrial and capital equipment sectors.

Supply chain issues were a well-known problem during the Covid-19 pandemic. When manufacturing shut down and shipping ground to a standstill, it was hard for many companies to get the materials they needed to operate.

Those days are largely over, but people have a much greater appreciation today for the importance of companies that work to navigate supply chain issues.

Earnings for the second quarter included $2.39 billion in revenue, up 23% from a year ago. Earnings per share came in at 91 cents, which was an improvement from 55 cents in EPS a year ago.

CLS stock is up 60% this year, but it’s a bargain considering the stock dropped 18% in the last month. It gets “A” ratings for growth and overall in the Portfolio Grader.

On the date of publication, Louis Navellier had long position(s) in NVDA, GD, COST and CLS.  Louis Navellier did not have (either directly or indirectly) any other positions in the securities mentioned in this article.

The InvestorPlace Research Staff member primarily responsible for this article had a long position in NVDA. The InvestorPlace Research Staff member did not have (either directly or indirectly) any other 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.

On the date of publication, the responsible editor did not have (either directly or indirectly) and positions in the securities mentioned in this article.