Worried About a Tech Sell-Off? Buy This Tech Stock
Following the phenomenal performance of many tech stocks over the last several quarters, it seems the market is taking a break, as evidenced by the more than 10% drop in the Global X Cloud Computing exchange-traded fund (ETF), a basket of cloud stocks, in just one month.
Nobody knows whether that will lead to a market crash in 2021. But if you worry about a deeper tech sell-off, you should consider buying Check Point Software (NASDAQ: CHKP) stock. Here's why.
Check Point proposes cybersecurity solutions in a market that is poised to thrive over the long term. The research outfit Allied Market Research estimates the cybersecurity market will grow at a compound annual rate of 9.4% to $305 billion by 2027.
Source Fool.com
