In today’s digital world, there will always be a need for cybersecurity. Too many of our essential systems, everything from the upper levels of government and finance to the automation systems that run the traffic lights, depend on online connections for us to ignore the basics of securing our computer networks. Recent events, including the ongoing questions about election integrity, deep macroeconomic volatility, and the Russian war in Ukraine, have simply underscored the importance of cybersecurity.
Against this background of accelerating tailwinds, cybersecurity has become a top priority for tech execs. The situation has caught the attention of J.P. Morgan analyst Brian Essex, who says, “With less than $200 billion of enterprise spend to address over a trillion dollars of estimated annual cost and value destruction related to cybercrime, we expect Security budget growth will outpace IT budget growth for the full year and, with multiples now below pre-pandemic levels, we see…
2023-01-27 15:08:56 J.P. Morgan Says Now Could Be a Good Time to Buy Cybersecurity Stocks; Here Are 2 Names With Promising Growth Potential
Link from finance.yahoo.com According to an article recently published by CNBC, J.P. Morgan Asset Management recently stated that investors could buy into cybersecurity stocks, as it may be the perfect time to do so.
According to the report, cybercrime is becoming increasingly prevalent. This expansion has given rise to a very lucrative and rapidly growing industry. As the demand for cybersecurity increases, companies that offer sophisticated solutions to combat cybercrime have seen tremendous growth potential.
J.P. Morgan Asset Management provided two stocks that could prove to be worthwhile investments; Check Point Software Technologies Ltd. and Palo Alto Networks Inc. Both companies have been experiencing great success in the cybersecurity arena and have experienced a tremendous amount of growth.
Check Point Software Technologies has developed an array of products and solutions geared towards the detection, prevention, and resolution of cyber security issues. The company is currently providing endpoint protection, mobile security, and enterprise-level security protection to their customers.
Palo Alto Networks Inc has also been experiencing success in combatting cybercrime, offering advanced cloud-based security solutions. Their technology provides customers with a unified security platform to fight malware, combat threats, and manage data.
In light of the recent surge in cybercrime, now may be the ideal time to invest in cybersecurity stocks, as it may be prudent to prepare for potential cybersecurity threats. J.P. Morgan Asset Management believes that the growth potential for Check Point Software Technologies and Palo Alto Networks Inc is promising. Ultimately, any investment decisions should be made with thorough research and at the investor’s own risk.