The PowerShares QQQ ETF (QQQ) has had a powerful 2017, rallying some 30% so far on the year. But one industry not enjoying such a great ride? Cyber security.
That's an interesting note, TheStreet's Jim Cramer pointed out on CNBC's "Stop Trading" segment Monday. That's very surprising, given how important securing personal data has become. One only needs to look to the Equifax (EFX) hack to understand why companies are looking to increase their cyber security.
Cramer also pointed out the 8% growth in security revenue for Cisco Systems (CSCO) in the company's recent earnings results. Palo Alto Networks (PANW) reports on Monday after the close, so it will be interesting to see what management has to say.
Is Cisco seeing its security revenue rise because it is taking market share from its competitors in which Palo Alto is an opponent? Or has there been a large increase in security spending to ensure more companies don't end up like Equifax?
- Cisco's Stock Hasn't Been This High Since 2001
- Equifax Adds Cybersecurity Expert Scott McGregor to Board After Data Breach
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