Recently, cyber stocks have been soaring. A leader in the space, Palo Alto Networks (PANW) just reported impeccable earnings. And the whole sector has seen a boost because of it.
Right now, we’re in a period of time when it’s supposed to be tough for businesses to grow. But it seems cyber hasn’t gotten the memo. Companies’ growth is either accelerating or not decelerating by much at all. That means the tailwinds for cybersecurity are truly enormous right now. And that’s really got us fired up about cyber stocks.
Amid the global geopolitical uncertainty that we’re seeing right now, companies are hyperconcerned with securing their data. Indeed, security is a spending vertical that doesn’t get slashed with recessions. Rather, as evidenced by Palo Alto’s and Cloudflare‘s (NET) recent earnings, it’s continuing to grow. And that’s great news for cyber stocks.
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On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.