The Russia-Ukraine crisis is sending these tech stocks surging…
The S&P 500 jumped by 2.2% to end the trading week. Meanwhile, the Dow Jones, Nasdaq Composite, and Russell 2000 rose by 2.5%, 1.6%, and 2.3%, respectively.
Driving the surprise rally is a decline in market uncertainty. While the Russia-Ukraine crisis rages on, Russia’s invasion has helped global money managers get a clearer picture of which stocks will perform well moving forward.
And despite a recent decline in tech stocks, cybersecurity is now helping to lift the sector. Crowdstrike (CRWD), Fortinet (FTNT), and ZScaler (ZS) all surged by 10% to 13% following news of Russian cyberattacks against Ukraine.
However, these aren’t the only companies that benefited. One of the largest cybersecurity firms around, Palo Alto Networks (PANW), also saw its share value soar.
That’s because it's a cybersecurity firm that focuses on firewalls and cloud-based defense measures. In fact, it’s an industry leader in firewalls.
The company’s digital defense services protect nearly everything due to its “zero trust” system, which doesn't trust anything it's connected to.
This could include another device or a network of devices. And if one is compromised, its cybersecurity measures immediately protect other connected hardware and software.
And as geopolitical tensions rise – and we become increasingly reliant on the cloud – the more in-demand these firewalls will become. As a result, Palo Alto’s revenue and share value could surge in the months and years ahead.
Ex-CIA Insider: Joe Biden is in HUGE trouble…
Sponsored
Quid Pro Joe is in huge trouble.
And I don't just mean his declining health, reckless policies, or all the skeletons saved on Hunter Biden's laptop…
See, we've come across a developing story that could spell disaster for the Biden Administration…
In fact, it's a story with such huge potential consequences that… Even if Joe can pass his student loan forgiveness plan and every other campaign promise he made (and broken) so far..
This disaster will overshadow every decision he has ever made, and potentially spell the ruin of the entire U.S. economy.
What exactly am I talking about?
You'll find out when you click here – it could spell catastrophe for anyone at or near retirement age.
