VIDEO: Investing in 60 seconds | Why cybersecurity giant, Palo Alto is outperforming the Nasdaq
Global governments and organisations are heavily investing in Cybersecurity each year to prevent cyberattacks. The US government is spending US$16 billion alone, on the sector this year. Australia's government is spending AU$9.9 billion on the sector over 10 years.
This type of investment is why companies like $Palo Alto Networks(PANW.US$, continue to grow their revenue and earnings.
Consensus (or market estimates) also suggests these trends will continue for 2023.
$Palo Alto Networks(PANW.US$ shares have also outperformed the Nasdaq 100 and they're up by 71% this year.
It's businesses like these; market leaders, with 50% of their income under contract that are gaining attention.
And so too, is the ETF, $BetaShares Global Cybersecurity ETF(HACK.AU$, that tracks the biggest cyber security companies in the world.
The biggest holdings in the HACK ETF include $Palo Alto Networks(PANW.US$, $Fortinet(FTNT.US$, and $Cisco Systems, Inc.(04333.HK$.
The biggest holdings in the HACK ETF include $Palo Alto Networks(PANW.US$, $Fortinet(FTNT.US$, and $Cisco Systems, Inc.(04333.HK$.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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