Cybersecurity is definitely one focus area, not just because of the Russia-Ukraine conflict but for many years to come. Organisations have been increasing their cybersecurity spendingas cloud computing and remote working became essential.
As a result, demand for better security in this new digital era is stronger than ever. Furthermore, cybercrime is becoming more rampant these days and companies do not wish to be a victim of data breaches (whether IPs or personal data)
There are multiple facets to cybersecurity, andbelow are some of the notable names in this fast-growing industry:
1. $CrowdStrike Holdings, Inc.(CRWD)$- leader in end-point security, providing protection for devices such as laptops, PCs and servers. Its software uses machine learning to consistently detect and hunt down security breaches. The ease of deployment also makes it a top choice among many of the Fortune 500 companies.
2. $Okta Inc.(OKTA)$- pioneer of identity andaccess management, which entails verificationof users before allowing access to data and applications. This is imperative to prevent any unauthorised access given the increasingly mobile and complex cloud based environment these days.
3. $Palo Alto Networks(PANW)$- specialist infirewalls to protect traffic into and out of offices and data centres. While this may be perceived as a "legacy" business, it is definitely one of the largest pure play cybsecurity companies.
There are many other big names such as Zscaler, Fortinet, SentinelOne that have established themselves in the industry. However, it is important to note that there has been a strong rally for these companies with their recent techrebound. Good to keep these companies on your watchlist and perhaps these may be a good long-term opportunity at the next dip.
Stay safe and secure! [Grin]
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Good read! [Wow]