{"id":34984,"date":"2023-07-13T04:30:03","date_gmt":"2023-07-13T08:30:03","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/microsoft-cybersecurity-expansion-poses-long-term-ramifications-for-palo-alto-networks-cloudflare-others\/"},"modified":"2023-07-13T04:30:06","modified_gmt":"2023-07-13T08:30:06","slug":"microsoft-cybersecurity-expansion-poses-long-term-ramifications-for-palo-alto-networks-cloudflare-others","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=34984","title":{"rendered":"Microsoft cybersecurity expansion poses long-term \u2018ramifications\u2019 for Palo Alto Networks, Cloudflare, others"},"content":{"rendered":"
\n

Cybersecurity stocks fell Wednesday after Microsoft Corp. announced an expansion into network security, and rebranded its Azure Active Directory to reflect that move, which could haunt pure-play security vendors in the long term. <\/p>\n

In a blog post Tuesday, Microsoft
\n MSFT,
\n +1.42%<\/bg-quote>
\n announced that Azure AD will now become \u201cMicrosoft Entra ID,\u201d as the service focuses on zero-trust ID with Entra Private Access, and an identity-centric secure web gateway with Entra Internet Access, both of which are in preview.<\/p>\n

\n

Jefferies analyst Brent Thill followed that with a note stating that Microsoft \u201chas now clearly entered the network space with potential longer-term ramifications to vendors\u201d such as Cloudflare Inc.
\n NET,
\n -5.46%<\/bg-quote>,<\/span>
\n Fortinet Inc.
\n FTNT,
\n -2.04%<\/bg-quote>,<\/span>
\n Check Point Software Technologies Ltd.
\n CHKP,
\n -1.27%<\/bg-quote>,<\/span>
\n Palo Alto Networks Inc.
\n PANW,
\n -7.03%<\/bg-quote>
\n and Zscaler Inc.
\n ZS,
\n -6.59%<\/bg-quote>.<\/span>\n <\/p>\n

Read: <\/strong>Microsoft is cutting more jobs, after laying off 10,000 earlier this year<\/p>\n

While shares of Microsoft finished Wednesday\u2019s session up 1.4% at $337.20, shares of Cloudflare dropped 5.5% to finish at $64.23, Fortinet shares fell 2% to $76.72, Check Point shares fell 1.3% to close at $126.19,Palo Alto Networks shares dropped 7% to close at $232.64 and Zscaler shares fell 6.6% to close at $137.68.<\/p>\n

While not cited in Thill\u2019s note, CrowdStrike Holdings Inc.
\n CRWD,
\n -3.09%<\/bg-quote>
\n shares fell 3.1% to close Wednesday at $146.13, and the ETFMG Prime Cyber Security ETF
\n HACK,
\n -1.42%<\/bg-quote>
\n finished down 1.4%.<\/p>\n

Also read: <\/strong>Microsoft to work with U.K. regulators after U.S. judge clears path to Activision Blizzard acquisition<\/p>\n

Meanwhile, the S&P 500 index
\n SPX,
\n +0.74%<\/bg-quote>
\n rose 0.7%, the tech-heavy Nasdaq Composite
\n COMP,
\n +1.15%<\/bg-quote>
\n gained 1.2%, and the Dow Jones Industrials Average
\n DJIA,
\n +0.25%<\/bg-quote>,<\/span>
\n of which Microsoft is a component, closed up 0.3%. <\/p>\n

By entering the space, Microsoft expanded its cybersecurity total addressable market to upwards of $20 billion in 2022 from upwards of $15 billion in 2021, Thill said.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Cybersecurity stocks fell Wednesday after Microsoft Corp. announced an expansion into network security, and rebranded its Azure Active Directory to reflect that move, which could haunt pure-play security vendors in the long term. In a blog post Tuesday, Microsoft MSFT, +1.42% announced that Azure AD will now become \u201cMicrosoft Entra ID,\u201d as the service focuses […]<\/p>\n","protected":false},"author":1,"featured_media":34985,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-34984","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nMicrosoft cybersecurity expansion poses long-term \u2018ramifications\u2019 for Palo Alto Networks, Cloudflare, others | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Cybersecurity stocks fell Wednesday after Microsoft Corp. announced an expansion into network security, and rebranded its Azure Active Directory to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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