16 Jul Cybercrime Is A Tailwind For Cybersecurity Stocks Tenable And ZScaler
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This week in cybersecurity from the editors at Cybercrime Magazine
– Read the Full Story in The Motley Fool
Sausalito, Calif. – Jul. 14, 2024
According to Cybersecurity Ventures, cybercrime is set to cost the world $9.5 trillion this year, and the damage bill could top $10.5 trillion in 2025. Malicious actors are even using artificial intelligence (AI) to launch highly sophisticated attacks on businesses.
The Motley Fool reports that 64 percent of the 4,702 CEOs surveyed by PwC earlier this year said generative AI will increase cybersecurity risks in their organization during the coming 12 months alone. Cybersecurity providers are likely to see a rush of spending from their customers in the coming years as the threat posed by AI continues to grow.
That could benefit Tenable (NASDAQ: TENB) and Zscaler (NASDAQ: ZS). Shares in those companies are trading 29 percent and 45 percent below their all-time highs, respectively, but they could recover all of that ground (and then some) as demand for their advanced protection expands.
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