Market Review & Outlook 1Q2024
Having recently taken corporate operations and intelligence digitally (and online), Cyber Security was an obvious urgency for Chief Tech Officers (CTOs). However, these executives have been making hard budgeting decisions with the recent massive appeal of Alternative Intelligence (AI) innovations. We can see that in the sales numbers of the industry's dichotomy. Separately, the Magnificent 7 have finally succumbed to broader forces as their glory stories have proven mortal. Even as initial cracks emerged in the outlooks for this group and the broader economy, the stocks powered higher, although divergence emerged. Now, it appears the entire group has finally rolled over, likely marking the final phase of capitulation that all stocks are more challenging to own as economic uncertainty grows.