2024-03-13 08:13:25 ET
Summary
- The cost of cybercrime continues to rise, and is estimated to reach $10.3 trillion by 2025 and $13.8 trillion by 2028.
- The 1-year performance across cybersecurity leaders is quite variable, ranging from an impressive 161% to a mere 17%.
- AI and automation are increasingly important in the industry, with 560,000 new malware pieces detected daily.
This year has led to a split landscape for cybersecurity stocks, with two of cybersecurity leaders up more than 20% YTD while others are negative YTD. In the past, we’ve discussed the resiliency of the cybersecurity trend being that it’s one of the highest costs that enterprises face at 12% of IT budgets on average. The cost of cybercrime continues to rise, and is estimated to reach $10.3 trillion by 2025 and $13.8 trillion by 2028. AI and automation are playing an increasingly large role in the industry, with 560,000 new pieces of malware detected every day. Software systems cannot keep up with this, and AI is already assisting human teams in identifying which threats require more analysis....
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Cybersecurity Stocks: CrowdStrike Soars While Palo Alto And Zscaler Fall