According to Gartner, the global spending on information security products and services will grow 7% this year to $86.4 billion and to $93 billion by 2018.
The tech stocks continue to have a bullish run in the stock market. The latest one to join the race is Apple (Nasdaq: AAPL), which announced a blowout quarter, yet again.
If anyone expected the recent Russia scandal regarding the US election to hurt the profitability or revenue prospects for Facebook (NASDAQ: FB), they couldn’t have been more mistaken. In the recently reported quarterly performance, Facebook continued to shatter all market expectations, yet again.
Social media stocks like Twitter (NYSE: TWTR) have been in the news recently as they went to court to present their side of the story regarding Russian involvement in the US elections. Twitter also made some news earlier last month when it delivered a quarterly performance that outpaced market expectations. But the worst is hardly over for the company.
The recent quarterly results by tech giants Amazon, Microsoft, and Alphabet (Nasdaq: GOOG) helped drive the Nasdaq to the best gains of the year. Post their result announcements, the Nasdaq climbed 2% in the day – its biggest climb this year – as the stocks themselves climbed to their record highs.
Microsoft (Nasdaq: MSFT) recently announced its first quarter results and the performance blew past all market expectations. Microsoft continued to deliver stellar growth in the Cloud segment, instilling additional confidence in the market. Post the result announcement, its stock climbed to record high-levels, once again.
Amazon (NASDAQ: AMZN) acquired 460-store Whole Foods Grocery chain for $13.6 billion last quarter and is now expanding its physical presence across the country. It is also expanding its international reach and its video and music offerings. But first, let us look at its strong third quarter earnings, which surpassed all expectations. >>>
Earlier this week, ITSM provider ServiceNow (NYSE: NOW) reported its third quarter results that surpassed market expectations. But the market was not pleased with the performance and the stock slid nearly 5% post the announcement. It is a small bump considering that the stock has climbed nearly 60% since the start of the year.