Jim Cramer blasts warnings from a competitor, says buy cybersecurity leader Palo Alto Networks

It's time to use Palo Alto's dip on Friday and nearly 9% decline since its October record high to buy the stock, Jim Cramer said Friday.

Despite doom-and-gloom from a competitor around cybersecurity spending, Jim Cramer said Friday that it's the perfect time to buy industry leader Palo Alto Networks , considering the onslaught of recent high-profile hacks and breaches. Cybersecurity stocks came under pressure Friday, the day after Fortinet gave a dismal forecast of weaker client spending as part of its latest earnings report. Fortinet plunged 16%, while shares of Palo Alto Networks tumbled more than 3%.

Signage outside Palo Alto Networks headquarters in Santa Clara, California, U.S., on Thursday, May 13, 2021.Despite doom-and-gloom from a competitor around cybersecurity spending, Jim Cramer said Friday that it's the perfect time to buy industry leader

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