Why SentinelOne Stock Was Winning This Week
To put it gently, this summer has been a volatile period for the cybersecurity industry. News of a widespread outage stemming from a software upgrade by a major player has affected other stocks in the sector. Yet one of them, SentinelOne (NYSE: S) recently experienced a bit of a bull run. Data compiled by S&P Global Market Intelligence reveal that the company's share price had increased by almost 11% week to date as of early Friday morning.
One piece of news that brightened sentiment on SentinelOne was its Monday disclosure that it had reached a deal with a major PC and laptop maker. It and Hong Kong-based Lenovo Group have signed a multiyear collaboration agreement for SentinelOne to provide artificial intelligence (AI)-enhanced endpoint security solutions for Lenovo's PCs. Specifically, the deal will involve the cybersecurity specialist providing its Singularity Platform accompanied by its Purple AI.
Lenovo is the top traditional PC maker in the world when measured by shipments. According to data culled by tech sector research firm IDC, Lenovo shipped roughly 59 million units in 2023, more than 6 million ahead of its closest rival.
Source Fool.com
