According to the Allianz Risk Barometer, cybersecurity threats like ransomware attacks, data breaches, and IT disruptions are the biggest worry for companies globally in 2024. As investments in AI and other digital assets increase, cybersecurity becomes more important for both investors and businesses.
Macquarie US Head of AI & Software Research Fred Havemeyer joins Yahoo Finance for the latest installment of Good Buy or Goodbye, giving insight into which companies are best for investors to capitalize on the growing cybersecurity sector, and which ones to potentially avoid.
Havemeyer selects CrowdStrike Holdings (CRWD) as his Good Buy, with a price target of $285 per share. He cites the company as having the best security software that's well known amongst many consumers in an increasingly hostile digital landscape - including more advanced cyberattacks from generative AI - which will, in turn, necessitate businesses to use their products and services, leading to growth.
Havemeyer points to Okta (OKTA) as a Goodbye, stating the company is rebuilding trust in the market after several issues and data breaches. Alongside Okta;s many delayed product releases, Havemayer questions the company's guidance and whether it efficiently assessed risks when making its guidance.
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Негізгі бет Cybersecurity in 2024: Which stock will protect your portfolio?
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