Growth stocks have gotten walloped this year. The growth-focused Nasdaq Composite Index has lost about a third of its value, with many growth stocks down even further. The main issue weighing on growth stocks is concern that rapidly rising interest rates to combat red-hot inflation will send the economy into a recession. That would make it harder for companies to grow their revenue and profits.
However, some companies are more immune to an economic downturn because they benefit from significant long-term tailwinds. One sector where that's certainly the case is cybersecurity . With cyber threats growing, businesses and other entities need to improve their network security. That's driving explosive growth for companies focused on the sector.
Three great options for those with a little spare cash to invest these days are CrowdStrike (NASDAQ: CRWD) , Palo Alto Networks (NASDAQ: PANW) , and Zscaler (NASDAQ: ZS) . An investor with $1,000 to invest could buy a couple of shares of each company, enabling them to build a mini cybersecurity basket to capitalize on the sector's enormous long-term growth potential.
For further details see:
The Ultimate Growth Stocks to Buy With $1,000 Right Now