The cybersecurity market has reached a new level of importance the last few years. Secular trends were already pushing many organizations into cloud computing, but the pandemic lit a real fire under those that have been slow to adopt the next-gen IT infrastructure. Cloud services, and the mobile computing they help power, are booming. All of this necessitates a new type of cybersecurity service. 

In spite of all this growth, it would appear cybersecurity businesses had a terrible year. They didn't, but share prices tumbled anyway thanks to the bear market of 2022. Fortinet (NASDAQ: FTNT) was no exception.

However, the second-largest security software company (behind Palo Alto Networks) remains a market-trouncing stock since its 2009 IPO, and management has plans in place that could keep that trend going in 2023 and beyond.

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Source Fool.com