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Amid such developments, on July 28, President Biden announced the National Security Memorandum on Improving Cybersecurity for Critical Infrastructure Control Systems. The global cybersecurity market is projected to grow at a 10.9% CAGR over the next seven years.
Thus, fundamentally sound cybersecurity companies NortonLifeLock Inc. (NLOK), McAfee Corp. (MCFE), Trend Micro Incorporated (TMICY), and Radware Ltd. (RDWR) are expected to exhibit steady growth. As such, we believe investors looking to cash in on the industry’s solid growth prospects could bet on these stocks now.
