It's a bit soon to simply declare the bear market over, but things clearly aren't quite as ugly as investors recently feared. Companies remain in the black, inflation is cooling, and jobs are still plentiful. China is reopening after months of pandemic-prompted lockdowns as well, and the economic upside of that decision is already evident.

Translation: Stepping back into growth stocks today might not be the high-risk decision it's recently appeared to be. To this end, here's a closer look at four of the market's top growth stocks that you can feel good about buying sooner than later.

1. Amazon

If you know the company well, then you probably know Amazon's (AMZN 0.33%) e-commerce operation has actually lost money this year. Logistics and personnel costs are soaring, taking a big bite out of its bottom line.

But that just doesn't matter. See, the company's cloud computing arm has become Amazon's biggest breadwinner, and its growth this year has more than offset the company's recent e-commerce losses. For perspective, through the first three quarters of 2022, Amazon Web Services' operating profits of $17.6 billion are up 33% year over year.

That growth pace isn't apt to slow anytime soon, either, given Precedence Research's expectation that the cloud computing market will expand at an annual pace of 17.4% through 2030.

However, perhaps the bigger, better argument for stepping back into Amazon stock now that it's priced at only about half of its late-2021 high is the cost cutting that's in the cards. CEO Andy Jassy anticipates laying off on the order of 18,000 people in the foreseeable future. At the same time, the sky-high fuel costs that have made shipping and freight so expensive of late are also starting to sink.

The company also continues to optimize and right-size its operations, some of which were pieced together in a hurry at the height of the COVID-19 pandemic. These measures include the rare outright closure of unneeded shipping and storage facilities.

The point is, the Amazon of the near future could soon start looking like the powerhouse Amazon of the not-so-distant past.

2. MasTec

MasTec (MTZ 2.59%) isn't a household name. There's a good chance, however, that you or someone in your household benefit from its wares. The company makes a variety of infrastructure products like oil and gas pipelines, cell phone towers, and electricity transmission equipment, just to name a few.

It's not exactly exciting stuff, but it can still be a major growth driver for a dominant presence like MasTec. Whereas most private corporations can postpone or cancel the purchase of major equipment and infrastructure projects when the economy is weak, the bulk of MasTec's customers are institutional service providers that are often working in partnership with government entities and regulators. MasTec's projects are rarely put on hold for economic reasons.

Evidence of this tailwind lies in the company's top-line growth. Last year's revenue is expected to have improved nearly 22%, and this year's forecast sales growth should reach 34%. Profits are growing accordingly. While some of that growth can be attributed to catch-up efforts from projects temporarily put on hold in 2020 due to the pandemic, this sort of double-digit growth isn't out of the ordinary for MasTec.

Moreover, plenty more of this sort of growth is likely beyond this year. Speaking at an investor conference held earlier this month, MasTec CEO Jose Mas said about the Inflation Reduction Act made into law last year, "If double the [solar] panels were available, then we'd have double the work because the demand is that great."

Mas also explains, however, "While the IRA [Inflation Reduction Act] is going to lift the industry by a pretty significant level, it's going to take time for it to start impacting the market relative to seeing it on people's income statements and balance sheets."

3. Shopify

Shopify's (SHOP 1.15%) easiest growth is likely in the rearview mirror. But the bulk of its potential remains untapped thus far. In simplest terms, Shopify helps companies of all sizes sell goods online.

Setting up an e-commerce presence can be complicated, and most would-be online retailers are content to outsource the job to a third-party provider. Shopify is a go-to name, turning $46.2 billion worth of merchandise sales in the third quarter of last year into revenue of $1.4 billion. Those figures are up 11% and 22%, respectively, mirroring the company's growth pace for the past several years.

And there's plenty more opportunity in store.

Citing an outlook from eMarketer, Shopify says the United States' DTC (direct-to-consumer) market it serves is set to grow from last year's estimate of $155.7 billion to $212.9 billion next year. That's a 37% increase in just two years' time.

It's still just the beginning, though. Despite years of huge growth for this sliver of the retail business, the U.S. Census Bureau reports less than 15% of the country's retail purchases are taking place online.

The company's profits might still be inconsistent, and the analyst community might not be wildly bullish on the stock right now, but there's no denying that Shopify is well-positioned to benefit as more shopping moves to the web.

4. Palo Alto Networks

Finally, add Palo Alto Networks (PANW 2.49%) to your list of growth stocks to buy this week, even though it's been falling since early last year. That just bolsters the eventual upside. Palo Alto provides a variety of cybersecurity solutions. Ransomware protection, remote login security, incident response, and threat detection are just some of the offerings in its wheelhouse.

None of these tools are optional for enterprise-level clients anymore. Worldwide digital infrastructure attacks were up 28% in the third quarter of last year, according to numbers from Check Point Software, extending a long-running trend.

And perhaps worse, even with ever-growing efforts to prevent cybercrime, cybersecurity outfit Cybersecurity Ventures estimates the worldwide annual cost of cybercrime will swell from $8 trillion this year to $10.5 trillion by 2025. Ouch! While last year's economic headwinds prompted many companies to tighten their purse strings, clearly, securing digital infrastructure isn't one of those areas in which corporate chiefs can afford to skimp.

This, of course, plays right into Palo Alto Networks' hands. The analyst community is calling for revenue growth of a little more than 21% this year, driving per-share profits up from last year's expected figure of $3.42 to $4.05 per share this time around. That growth is in line with the company's recent history and also offers a hint of what's in the cards beyond 2023.