Wall Street Bullish on AI Cybersecurity Leaders CrowdStrike and Palo Alto for 2024 Growth
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Wall Street analysts are bullish on cybersecurity and AI stocks like CrowdStrike and Palo Alto Networks for 2024. They cite factors like heightened threats, regulatory tailwinds, and AI innovation.
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CrowdStrike is firing on all cylinders with 35% revenue growth in Q3 2022. It leads in applying AI to endpoint security and preventing attacks.
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Palo Alto Networks became the first $100B pure-play cybersecurity company. It leads in cloud workload security, zero-trust platforms, and secure access service edge.
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Both CrowdStrike and Palo Alto are positioned to grow faster than the overall cybersecurity market, aided by their AI capabilities.
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Analysts recommend buying both stocks, despite high valuations, as they are positioned to create long-term value with their market leadership and AI focus.