This shouldn’t come as any surprise given the environment we’re in, but cybercrime is increasing just as fast as computer networks.
I mean, cybercrime will reportedly cost the global economy $6 trillion in 2021 — that’s a BIG jump compared to the $3 trillion in damages done in 2015.
If it were measured as a country, it would be the world’s third largest economy following China and the U.S.
And along with expanding cyber attacks, security has weakened thanks to a shortage in skilled IT skilled labor — even before COVID-19 struck.
These are the main reasons why traders will want to target cybersecurity stocks right now. And, luckily for us, I know exactly which names to target…
Why Traders Should Target Cybersecurity Stocks
Unlike some other industries that have become largely consolidated and, as a result, lack innovation, startups will continue to dominate this sector.
And these startups will gain solid reputations in niche areas…
I see a strong continuation of fragmentation over the next few years, which will keep the industry highly competitive and fuel further growth.
In fact, it’s obvious that the sector is gaining momentum right now thanks to extremely positive earnings from leaders like Palo Alto Networks Inc. (NYSE: PANW), which gained 11-plus percent overnight after earnings.
PANW is trading at new highs and I expect other stocks within the space to show some upside on this positive news.
So not only for this name, but for the industry as a whole.
Check out my short video to learn more about why traders should target cybersecurity stocks right now, and which names are the best to invest in.
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