Updates: PANW 2Q24 - The New Platformization Play And Its Impact On Competitors
Summary
* Following the 2Q24 call, PANW gapped down ~26%. Unlike other gap downs in the past, this was driven by management's radically new strategy as opposed to an earnings miss.
* Contrary to what the market has priced-in, the new platformization strategy is very likely to put huge pressure on existing public competitors and smooth out many startups.
* It will unlock the potential of various PANW BoB products that have thus far been capped by customer restraints.
* Similar to the gap dow
