S - 2 Unstoppable Growth Stocks Down 10% and 65% to Buy Before They Soar in 2024
2023-12-22 06:19:00 ET
The biggest near-term threat to corporations might not be a recession or even climate change. According to research firm McKinsey & Company, cyberattacks are on track to cause $10.5 trillion in damage every year from 2025 onward, which will be triple the amount they caused in 2015.
As a result, McKinsey believes companies should collectively be spending $2 trillion each year on cybersecurity software to protect themselves. But there's a problem: They are on track to spend just $189 billion in 2023. That's a $1.8 trillion spending gap, which is likely to close over time because the cost of not paying for adequate protection is skyrocketing.
CrowdStrike (NASDAQ: CRWD) and SentinelOne (NYSE: S) are two leading providers of cybersecurity tools, and they will benefit from that trend. Shares in each company have soared this year, but they're still trading below their all-time highs, which is an opportunity for investors to buy in ahead of what could be a spending boom across the industry.
For further details see:
2 Unstoppable Growth Stocks Down 10% and 65% to Buy Before They Soar in 2024