Hot Stocks to Watch: Symantec (SYMC)
Like Citrix Systems (CTXS), Symantec (SYMC) offers enterprise-level security solutions. However, if there was a major incident involving hacking or Android malware, Symantec is the company that could see the largest windfall in terms of overall growth … especially if there’s consumer panic.
That’s because SYMC gets 42% of its revenue from PC and mobile security products, and is probably best-known to consumers for its Norton Security software.
In Norton, Symantec has a recognized security name. Plus, it already offers a Norton Mobile Security package for Android devices … and it’s priced at just $29.99, making Android malware defense cheap enough to be an impulse buy.
We are closing in on 1 billion Android devices activated and the vast majority of owners either don’t bother installing security software or make do with a free app. An Android malware scare could result in a run on Norton mobile security (a recognized name at an affordable price) and the potential for a resulting boost in sales volume makes SYMC one of our hot stocks to watch.