3 Top Growth Stocks to Buy in August

While value stocks with low earnings multiples and high dividend yields have traditionally held up better during periods of economic volatility, growth stocks have been the best performers amid this year's unprecedented conditions. Second-quarter results are rolling in, and tech-focused growth companies are crushing expectations and proving they're positioned to thrive amid the fast-changing realities of the global economy.

A staggering 96% of tech companies that have reported second-quarter results have beaten the market's expectations, according to Refinitiv. Take a glance at performance for the growth-heavy Nasdaq-100 Technology Index compared to the Russell 1000 Value Index to get an idea of how the S&P 500 has been pushed back into positive territory on the year after March's coronavirus-driven sell-offs: