CrowdStrike Continues to Win Big After Broadcom's Symantec Acquisition

Shares of endpoint security firm CrowdStrike Holdings (NASDAQ: CRWD) have been a hot commodity this year. Even after a much-needed cool-off post-second-quarter earnings report, the stock is still up 150% in 2020. And CrowdStrike upped its forecast for the rest of the year once again, indicating its cloud-based security for laptops, phones, and other devices remains a high priority as the world copes with COVID-19.  

Helping CrowdStrike's advance has been networking and communications semiconductor giant Broadcom (NASDAQ: AVGO), which has turned itself into a software company with a few acquisitions. Specific to this discussion, CrowdStrike was called out as a beneficiary of Broadcom's acquisition of the Symantec enterprise security division (with the remaining company surviving today as NortonLifeLock (NASDAQ: NLOK)) earlier this year. Broadcom's latest report signals that its entrance into the world of cybersecurity is still helping CrowdStrike, but Broadcom stock shouldn't be written off either.

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Source Fool.com