2024-06-28 15:06:34 ET
Summary
- Fortinet faces challenges due to soft demand and excessive inventory levels throughout its supply chain. Conditions are expected to improve later in 2024 though.
- SASE and SecOps will eventually support Fortinet's growth as they scale. The Lacework acquisition should also boost Fortinet's cloud security business.
- While there is a risk that hardware sales will remain depressed for an extended period of time, Fortinet's valuation should limit downside.
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For further details see:
Fortinet: Nearing The Trough