Palo Alto Networks (NDQ: PANW)

Palo Alto Networks doubled in the eight months since our December review. In February, Palo Alto completed its $25 billion acquisition of CyberArk, making identity security — protecting the credentials of humans, machines, and now AI agents — a core pillar alongside its network and cloud platforms. Add the Chronosphere purchase and the company spent over $28 billion buying its way into the AI-security era.