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Cybercrime has become one of the biggest businesses in the world.
According to Cybersecurity Ventures, cybercrime will be responsible for $6 trillion in annual damages by 2021.
That's more than the GDP of 193 different countries. And it's double the figure from 2016.
In fact, Money Morning Defense and Tech Specialist Michael Robinson calls cybercrime "the black market's ultimate growth industry."
"By the time you're finished reading this sentence," Michael wrote, "a hacker somewhere in the world will have broken into a computer system on Wall Street, for instance, or the Pentagon, or at one or more of thousands of companies around the world."
Thankfully, there are tools to combat cybercrime. And investors who hitch their wagons to this booming trend can expect big rewards in the next decade.
Michael calls the cybersecurity sector a "massive, profitable tech trend." And the numbers back him up.
MarketsandMarkets projects cybersecurity sales to rise 68.2% in four years, from $137.8 billion in 2018 to $231.9 billion in 2022.
There are lots of companies to choose from in the cybersecurity sector. But to get the maximum benefit from industry growth, you'll want to pick a pure play.
That's what we've got for you today. It's a cybersecurity pure play that's expected to boost earnings per share (EPS) by 55% this year and has crushed estimates for nine straight quarters.
It's a cybersecurity stock that has a "Buy" rating from every analyst who covers it, according to FactSet.
Best of all, it's a cybersecurity stock that has a top score from our Money Morning Stock VQScore™ system.
Find out why this powerhouse is ready to take off...
From Startup to Global Leader in 22 Years, This Pick Still Has Room to Grow
About the Author
Stephen Mack has been writing about economics and finance since 2011. He contributed material for the best-selling books Aftershock and The Aftershock Investor. He lives in Baltimore, Maryland.
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