They Got Me Good...

This cybersecurity stock is "Bullish." Published By Money & Markets, LLC. May 17, 2024 Published By Money & Markets, LLC. May 17, 2024 [Turn Your Images On] [Turn Your Images On] From The Desk of Chad Stone Managing Editor, [Money & Markets Daily]( A "Bullish" Cybersecurity Stock for 2024 as Scammers Learn New Tricks Money & Markets Daily, I got scammed! I couldn't believe it. I've grown up on the internet, and I've seen all the tricks. Or so I thought… It happened late Saturday night. After a couple of drinks, I was hunting for a box of trading cards (got to diversify those assets, right?!). Some quick Google searching revealed a good deal. It was right at the top of the page, and the online Shopify store had a 5-star rating from what looked like real people! So I placed the order, got my confirmation email and waited… And waited… By Wednesday, I knew something was up. I had not received a shipping notification, and any email I sent to the seller was kicked back as "undeliverable." A little more digging revealed the store no longer existed on the internet! To make matters worse, I'd accidentally used my debit card instead of credit (thanks, Maker's Mark). Now, I wasn’t worried about my $85. I was terrified because this bad actor had access to my hard-earned money. I was bracing for the string of additional charges to drain my account. Luckily, it never got to that. I canceled the card, and I'm working through the fraudulent claims process with my bank now. Why tell this tale in a financial newsletter? Because our world is becoming more digital every day, and scammers will always find new tactics to take whatever they can. Protecting our information and assets is critical. And that sets up well for cybersecurity stocks… --------------------------------------------------------------- [Turn Your Images On]( [This New Tech Could Be Worth THREE TIMES the Entire New York Stock Exchange…]( Experts believe this new tech will create more wealth than all the fortunes of the last 150 years combined. That’s why the world’s richest men and even the United States Senate approved throwing hundreds of BILLIONS of dollars into this new technology… [And right now, there’s a little-known stock at the center of all the action.]( In fact, this small-cap stock is still trading for less than it costs to buy a tank of gas. [Click here now for the whole story.]( --------------------------------------------------------------- Why Cybersecurity Is Critical Companies need to protect our information. Executives don't want their company in the headlines after hackers access sensitive customer data. Comparitech ran the numbers on 28 companies that went through a data breach, and it found the associated stocks dropped 7.2% on average 14 days after the leak. Falling stock prices are another thing executives don't want! And with everything being online, cybersecurity isn't optional anymore. Companies need to shore up their defenses as bad actors develop new attacks. An Infosecurity Magazine report from earlier this year revealed that 69% of companies expect to increase cybersecurity spending by at least 10% in 2024. And 20% expect to hike their budget by 30% to 49%! Let's use Adam O'Dell's proprietary Green Zone Power Ratings to look for cybersecurity stocks that could benefit from this spending trend. Cybersecurity Stocks for 2024 My initial scans revealed some "Neutral" stocks. These tickers are expected to perform in lockstep with the broader S&P 500. Stocks like CrowdStrike Holdings Inc. (Nasdaq: CRWD) and Palo Alto Networks (Nasdaq: PANW) have ratings in the 50s and are worth watching. If those ratings improve into our "Bullish" zone, the stocks should outperform. So let's instead stick to the biggest guns. [Turn Your Images On] Microsoft Corp. (Nasdaq: MSFT) rates a 70 out of 100, which means it's set to beat the market by 2X over the next year. Strong ratings on Growth (92) and Quality (96) show that MSFT's business is sound and growing. In its latest earnings report, the company posted $61.8 billion in revenue, a 17% increase year over year. It also increased operating income by 23% year-over-year to $27. 5 billion. Microsoft isn't going anywhere! The stock is also up 35% over the last year, which is why it boasts a 79 on Momentum. And Microsoft is committed to cybersecurity. Its security arm brought in $10 billion of revenue in 2021, and that number quickly doubled to $20 billion last year! It now has more than 1 million cybersecurity customers (think businesses that need to protect mountains of data), and a vast majority own four or more products offered in Microsoft's security suite. Add that to Microsoft's efforts in other areas, like artificial intelligence and cloud services, and you'll have a well-diversified stock. That's why Green Zone Power Ratings expects it to outperform from here. Until next time, [Chad Stone]( Managing Editor, [Money & Markets Daily]( P.S. While we're focused on securing our bank accounts and Social Security numbers, Adam is thinking bigger. He's found a tech company that's using innovative "Closed AI" algorithms to assist the U.S. government on defense. And now is the time to buy in before AI's next wave starts. [Click here to see how.]( --------------------------------------------------------------- [Turn Your Images On]( From our Partners at Banyan Hill Publishing. [Wall Street Legend: “Do You Want to Be a Have or Have Not?”]( He predicted Black Monday, the dot-com boom and the Great Recession. He's also been recognized as Barron's #1 money manager and Wall Street's #1 market timer seven years in a row. In this must-see interview, he reveals a little-known AI firm founded by two of Silicon Valley's most secretive billionaires. It's primed to dominate a $22.1 trillion-a-year boom. This is a rare opportunity to invest before this firm's valuation potentially soars 2,500% in the coming years and 5,000% within a decade. ([Full Story]( --------------------------------------------------------------- [Turn Your Images On] Credit Card Delinquencies Are Rising Almost 7% of credit card balances became [delinquent]( the first quarter. That's a 50% increase from a year ago. Certain characteristics of late payers show where financial stress is developing. The chart below shows that most delinquent accounts are maxed out. This makes sense considering rising balances could be associated with deterioration in family finances. Maxed-out borrowers tend to be in the lowest income quintile and younger. Among Gen Z, 15.3% of borrowers are maxed out. That number is 12.1% for millennials. High-income, older consumers account for most of consumer spending, so this metric doesn't tell us much about the economy. But it does tell us that banks face significant problems this year. — Mike Carr, Chief Market Technician, Money & Markets [Turn Your Images On] [(Click here to view larger image.)]( --------------------------------------------------------------- Check Out More From Money & Markets Daily: - [BORING IS BULLISH: JUST LOOK AT THIS SHIPPING ETF'S RALLY]( - [I HAVEN’T SEEN THIS SECTOR’S BULLISH TREND IN 30 YEARS]( - [THIS TWEET JUST BROKE THE NEW YORK STOCK EXCHANGE]( --------------------------------------------------------------- [Turn Your Images On]( Privacy Policy The Money & Markets, P.O. 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It may contain errors and you should not base investment decisions solely on what you read here. It's your money and your responsibility. Nothing herein should be considered personalized investment advice. Although our employees may answer general customer service questions, they are not licensed to address your particular investment situation. Our track record is based on hypothetical results and may not reflect the same results as actual trades. Likewise, past performance is no guarantee of future returns. Certain investments carry large potential rewards but also large potential risk. Don't trade in these markets with money you can't afford to lose. Money & Markets permits editors of a publication to recommend a security to subscribers that they own themselves. However, in no circumstance may an editor sell a security before our subscribers have a fair opportunity to exit. Any exit after a buy recommendation is made and prior to issuing a sell notification is forbidden. 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