OKTA - IHAK: Buy The Dip In Cybersecurity Stocks But Risk Management Urged

2024-05-14 20:40:40 ET

Summary

• Cybersecurity stocks have lost some momentum this year, but there is an opportunity to buy now after a significant retreat.
• The iShares Cybersecurity and Tech ETF has lost its luster but offers exposure to cybersecurity innovation with long-term EPS growth.
• Its chart has pluses and minuses, and I highlight key price levels to watch.

Cybersecurity stocks have lost some of their luster this year. It was a hot space for much of 2023, particularly during the final 10 weeks of the year, when shares of companies such as CrowdStrike ( CRWD ) lifted off. While tech attacks have been intermittent over the last several months, the cybersecurity theme has taken a breather at the very least. Given the pullback, I think there is an opportunity today. ...

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