$NVDA (-3.24%) In your opinion, is it worth buying more?

Trump recently organized a big dinner with the most important minds from the tech world, which caused quite a stir worldwide. It was particularly striking that all the guests gave a kind of acceptance speech to Trump, which was a bit reminiscent of the GDR and the like.

Although I'm actually still quite sympathetic to Trump (he's at least not half as embarrassing as most European heads of government), I still find it a bit strange. It does seem a bit like a staged soap opera.

I mean, it's clear that as a serious businessman you exchange formal courtesies on such an occasion and don't go completely crazy and start insulting the president or something. So it's not entirely funny. But I also kind of wonder who came up with the idea that everyone should say a few words in turn? I mean, they can't help but say something nice. Still, it's kind of a funny picture howt Bill Gates has to attest to Trump's "great leadership".

Among others also present were Sam Altman ($AMD (-6.39%) ) Lisa Su ($AAPL (-0.6%) ) Tim Cook ($ORCL (+4.12%) ) Safra Catz and ( $MU (+4.36%) ) Sanjay Mehrotra

But more important than who was there is actually who was missing. The press noted with great satisfaction that ($TSLA (+2.3%) ) Elon Musk was not there and speculated that he had not even been invited - which Musk has already denied. ($NVDA (-3.24%) ) Jensen Huang and ($AMZN (-1.92%) ) Andy Jassy were also not on site.

Trump is definitely seeking proximity to the tech industry. The behavior of ($META (+0.15%) ) Mark Zuckerbergwho took the place of honor to Trump's right, but actually seemed frightened rather than confident. Another important moment was a brief conversation between Trump and ($GOOG (+0.19%)
$GOOGL (+0.3%) ) Sundar Pichai regarding a federal judge's ruling this week in an antitrust case involving Google's monopoly on search. The judge handed down a lenient sentence and rejected the demands for harsh penalties. The company thus escaped being broken up.

"You had a very good day yesterday," said Trump. "Do you want to talk about that great day you had yesterday?" He was glad it was over, Pichai replied. "Biden was the one who pushed this lawsuit,"Trump said. "You know that, right?"

So Trump is pursuing a Bismarckian carrot and stick policy with the tech CEOs. Those who get in line get help from the state, those who step out of line are reprimanded.

$AVGO (+8.57%) enters into a partnership with OpenAI to develop AI accelerators. The first hardware is to be delivered from 2026. In doing so, they are directly attacking the dominance of $NVDA (-3.24%) in this market.

Broadcom CEO Hock Tan has already confirmed a major customer with orders worth over 10 billion US dollars. According to Bloomberg, this is OpenAI.

In the third quarter, Broadcom exceeded expectations in terms of turnover and profit and gave an optimistic outlook for the fourth quarter.

Source: https://www.onvista.de/news/2025/09-05-kreise-broadcom-gewinnt-openai-als-kunden-fuer-ki-beschleuniger-0-10-26426608

Hello dear Getquin Community,

Over the past few days, I have been working intensively on the topic of cyber security and its fundamental importance in various sectors such as healthcare, technology, energy, armaments & defense, e-commerce, software, insurance, industry, utilities, commodities, banks, fintech, holdings, crypto and blockchain. I took a closer look at the big players, the hidden champions and the essential blade manufacturers in the industry. My aim was to gain as comprehensive a picture as possible of the different levels of this industry.

If I have overlooked any important aspects or have not categorized something correctly, I look forward to your comments and interesting additions @Tenbagger2024
@Multibagger
@Simpson
@Vegasrobaina . Together we can understand the topic even better and learn from each other.

Feel free to leave a 👍. I wish you every success with your investments 🚀

Contribution:

Cybersecurity is evolving from a marginal topic to the foundation of global markets. Whether healthcare, banking, utilities, armaments & defense, energy, industry or the digital infrastructure for artificial intelligence and blockchain, the need for protection mechanisms is increasing everywhere. While the big players such as $PANW (+0.5%) Palo Alto Networks, $CRWD (+0.54%) CrowdStrike or $ZS (+1.2%) Zscaler are in the spotlight, more and more specialized providers are emerging that are essential in their niches and often have disproportionately high growth potential. Hidden champions such as $SECT B (+1.21%) Sectra in the healthcare sector, $NCNO (-0.77%) nCino in the banking sector or $ESTC (+1.04%) Elastic in the data center show that cyber security has long been a diversified ecosystem. In addition, we must not overlook the blade manufacturers, i.e. the companies that provide the technological basis. These include chip manufacturers such as $NVDA (-3.24%) , $INTC (-1.01%) Intel or $AMD (-6.39%) AMD, data center operators such as $EQIX (+0.05%) Equin$DLR (+0.21%) Digital Realty as well as software and infrastructure providers such as $ESTC (+1.04%) Elastic, $DDOG (+2.39%) Datadog or $ANET (+0.68%) Arista Networks, without whose technology the security providers' solutions would not be scalable. The capital markets are reacting to this with valuation premiums, as the dependence on secure infrastructures is comparable to electrification in the 20th century. Investors are now faced with the question of whether to favor the established market leaders or invest in smaller companies that fly under the radar but could potentially be the real winners of tomorrow.

🔑Takeaway:

Cybersecurity is not an isolated trend, but a key investment factor across all industries from hospitals to data centers from payments to crypto platforms.

Healthcare

Big players:

$PANW (+0.5%) Palo Alto Networks (PANW), $FTNT (+2.89%) Fortinet (FTNT), $CHKP (+0.63%) Check Point (CHKP), $CRWD (+0.54%) CrowdStrike (CRWD), $S (+2.41%) SentinelOne (S), $CYBR (+0.52%) CyberArk (CYBR), $ZS (+1.2%) Zscaler (ZS), $NET (+1.04%) Cloudflare (NET), $AKAM (+1.05%) Akamai Tech. (AKAM)

- Core provider for firewalls, zero trust, endpoint and web security

Hidden champions:

$SECT B (+1.21%) Sectra (SECT-B.ST) - secure imaging & healthcare security

$VRNS (+0.3%) Varonis Systems (VRNS) - protection of sensitive patient data

Imprivata (private, partnerships with listed players) - identity management for clinics

Shovel manufacturer:

$NVDA (-3.24%) Nvidia (NVDA), $INTC (-1.01%) Intel (INTC), $AMD (-6.39%) AMD (AMD) - Chips & computing power for security appliances

$EQIX (+0.05%) Equinix (EQIX), $DLR (+0.21%) Digital Realty (DLR) - Data center infrastructure for clinical data

$ESTC (+1.04%) Elastic (ESTC), $DDOG (+2.39%) Datadog (DDOG) - basic software for monitoring & analytics

🔑 Takeaway Healthcare

Healthcare data is highly sensitive and clinics are at high risk of ransomware. In addition to large security providers, hidden champions such as Sectra and Varonis are gaining in importance as they secure directly at the interface between patient data and medical devices.

Technology, Data centers & AI, Telecommunications

Major players:

$ZS (+1.2%) Zscaler (ZS), $S (+2.41%) SentinelOne (S), $CHKP (+0.63%) Check Point (CHKP)

- Protection for cloud and AI environments

Hidden champions:

$ESTC (+1.04%) Elastic (ESTC) - Security Analytics

$ANET (+0.68%) Arista Networks (ANET)

- Network switches for data centers

Blade manufacturers:

$EQIX (+0.05%) Equinix (EQIX), $DLR (+0.21%) Digital Realty (DLR)

- Data center infrastructure

$NVDA (-3.24%) Nvidia (NVDA), $INTC (-1.01%) Intel (INTC), $MRVL (-1.42%) Marvell Tech. (MRVL)

- Chips & computing power for AI and security

Special players telecommunications

$AKAM (+1.05%) Akamai Tech. (AKAM) & Cloudflare (NET) - secure traffic and mobile data

$RDWR (+0%) Radware (RDWR) - DDoS protection for telcos

$CSCO (-2.09%) Cisco (CSCO) - network security for carriers

$CLAV Clavister Holding AB (CLAV) - through SD-WAN and carrier security

🔑 Takeaway Technology, Data Centers & AI

Data centers and AI platforms are the backbone of the digital economy. Zero Trust and cloud security from Zscaler or SentinelOne meet shovel manufacturers such as Equinix or Nvidia, who are indispensable with infrastructure and chips.

Energy

Major players:

$FTNT (+2.89%) Fortinet (FTNT, NASDAQ) - OT/ICS security for power grids and power plants

$PANW (+0.5%) Palo Alto Networks (PANW, NASDAQ) - Zero Trust & network protection for energy suppliers

$CHKP (+0.63%) Check Point (CHKP, NASDAQ) - Critical infrastructure protection, gas and oil industry

Hidden Champions:

Dragos (private, IPO candidate) - leader in OT security, specialized in energy infrastructures

$RDWR (+0%) Radware (RDWR, NASDAQ) - DDoS defense for energy networks

$NCC (-1.18%) NCC Group (NCC.L, London) - penetration tests & audits for utilities

$CLAV Clavister Holding AB (CLAV) - OT/ICS and infrastructure security

Shovel manufacturer:

$SBGSY (+0%) Schneider Electric (SBGSY, OTC) - OT/ICS hardware with security components

$ENR (-2.05%) Siemens Energy (ENR, Frankfurt) - Energy infrastructure with embedded security solutions

$AVGO (+8.57%) Broadcom (AVGO, NASDAQ) - Security chips for networks in energy environments

E-Commerce

Major players:

$NET (+1.04%) Cloudflare (NET, NYSE) - DDoS and API protection for online stores & payment platforms

$AKAM (+1.05%) Akamai (AKAM, NASDAQ) - Application security & bot management in e-commerce

$FFIV (-0.39%) F5 Networks (FFIV, NASDAQ) - API & payment security for digital platforms

Hidden Champions:

$RSKD (+0.26%) Riskified (RSKD, NYSE) - Fraud prevention in online retail

$VRNS (+0.3%) Varonis Systems (VRNS, NASDAQ) - Protection of customer data

$CYBR (+0.52%) CyberArk (CYBR, NASDAQ) - Identity & access protection for payment processes

Shovel manufacturer:

$V (-2.92%) Visa (V, NYSE) & $MA (-2.62%) Mastercard (MA, NYSE) - not classic cybersecurity, but operator of secure payment networks

$ESTC (+1.04%) (ESTC, NYSE) - fraud analytics for e-commerce platforms

$DDOG (+2.39%) Datadog (DDOG, NASDAQ) - monitoring & security analytics for retail infrastructure

🔑 Takeaway:

Energy is particularly vulnerable due to OT/ICS systems, which is where specialists like Dragos come in.

E-commerce needs fraud prevention in addition to traditional web security, which is why players such as Riskified are occupying a niche.

Armaments & Defense

Major players:

$NOC (-0.46%) Northrop Grumman (NOC, NYSE) - leader in cyberdefense for military & intelligence agencies, also developing offensive cyber capabilities

$BAESY (+1.25%) BAE Systems (BAESY, OTC) - strong cyber intelligence division, protects critical military and government networks

$RTX (-1.13%) Raytheon Technologies (RTX, NYSE) - defense company with growing cybersecurity portfolio for military communications & satellites

Hidden Champions:

$PLTR (-1.74%) Palantir Technologies (PLTR, NYSE) - Data and analytics platform with strong cybersecurity component, often for defense ministries

$CACI (+2.3%) CACI International (CACI, NYSE) - specializes in cyber intelligence, network protection and military IT services

$LDOS (-0.59%) Leidos Holdings (LDOS, NYSE) - IT and cybersecurity service provider for US defense and NATO

$CLAV Clavister Holding AB (CLAV) - used by government and military organizations

$ADVE Advenica (ADVE) - Specialized security, relevant for government agencies and national infrastructure

Shovel manufacturer:

$LHX (-0.79%) L3Harris Technologies (LHX, NYSE) - Provides communications and cyber hardware for military networks

$GD (-0.81%) General Dynamics (GD, NYSE) - with its IT division GDIT also a provider of cyber defense infrastructure

$KTOS (+1.13%) Kratos Defense (KTOS, NASDAQ) - specializes in drones, satellite systems and cyber hardening of defense communications

🔑 Takeaway:

In the defense sector, the boundaries between traditional defense and cybersecurity are blurring. Alongside the large defense contractors, hidden champions such as Palantir, CACI and Leidos are emerging to provide pure cyber and data expertise. Shovel manufacturers such as L3Harris and Kratos secure the technical infrastructure.

Software & insurance

Big players:

$OKTA (+1.36%) Okta (OKTA), $CYBR (+0.52%) CyberArk (CYBR), $CRWD (+0.54%) CrowdStrike (CRWD)

- Identity, endpoint and cloud security

Hidden champions:

$VRNS (+0.3%) Varonis (VRNS) - Data security

SailPoint (private, formerly NYSE) - Identity Governance

$FROG (-0%) JFrog (FROG) - DevSecOps & Supply-Chain-Security

$CYBE (+2.65%) CyberCatch Holdings, Inc (CYBE) - Provides AI-based cybersecurity SaaS

$GEN (-0.4%) Gen Digital (GEN) - one of the largest consumer cybersecurity providers worldwide (Norton, Avast, LifeLock), strong in identity protection and data protection for consumers & small businesses

Shovel manufacturer:

$MSFT (-3.41%) (MSFT), $GOOG (+0.19%) Alphabet (GOOGL), $AMZN (-1.92%) Amazon (AMZN)

- Cloud security base

$FFIV (-0.39%) F5 Networks (FFIV) - API protection for SaaS & insurance platforms

🔑 Takeaway Software & Insurance

Data and identity protection take center stage. Major players such as Okta and CyberArk secure access, while hidden champions such as Varonis and JFrog provide specialist solutions. Cloud providers such as Microsoft and Amazon are both platform operators and security suppliers.

Industry, supply & raw materials

Major players:

$FTNT (+2.89%) Fortinet (FTNT), $CSCO (-2.09%) Cisco (CSCO), $PANW (+0.5%) Palo Alto Networks (PANW)

- Network protection for critical infrastructures

Hidden champions:

$RDWR (+0%) Radware (RDWR) - DDoS protection

$NCC (-1.18%) NCC Group (NCC.L) - OT-Security & Penetration Tests

$SECT B (+1.21%) Sectra (SECT-B.ST) - secure infrastructure in the OT/healthcare intersection

$CLAV Holding AB CLAV) - OT/ICS and infrastructure security

$ADVE Advenica (ADVE) - Specialized security, relevant for public authorities and national infrastructure

Shovel manufacturer:

$AVGO (+8.57%) Broadcom (AVGO) - Security chips

Juniper Networks (JNPR) - Network backbones

$ANET (+0.68%) Arista Networks (ANET) - high-end switches

🔑 Takeaway Industry, Supply & Raw Materials

OT/ICS systems in production, energy and raw materials are attractive targets. Fortinet and Palo Alto dominate, but hidden champions such as Radware and the NCC Group offer special expertise for attacks on industrial control systems.

Banks, Fintech & Holdings

Big players:

$CRWD (+0.54%) CrowdStrike (CRWD), $PANW (+0.5%) Palo Alto Networks (PANW), $ZS (+1.2%) Zscaler (ZS)

- Core protection for banks & digital platforms

Hidden champions:

$NCNO (-0.77%) nCino (NCNO) - Cloud Banking Security

$NCC (-1.18%) NCC Group (NCC.L) - Audits & Compliance

$CYBE (+2.65%) CyberCatch Holdings, Inc (CYBE) - Provides AI-based cybersecurity SaaS

$GEN (-0.4%) Gen Digital (GEN) - through fraud prevention and identity topics

Shovel Manufacturer:

$FFIV (-0.39%) F5 Networks (FFIV) - API security for payments

$AKAM (+1.05%) Akamai Tech. (AKAM) - Web & Payment Security

$ESTC (+1.04%) Elastic (ESTC) - Fraud Analytics

🔑 Takeaway Banks, Fintech & Holdings

High regulatory pressure makes cybersecurity a mandatory field. In addition to established providers, banks are relying on hidden champions such as nCino or Darktrace for cloud banking and anomaly detection. Shovel manufacturers such as F5 or Akamai secure payment APIs and banking portals.

Crypto & blockchain

Big players:

$PANW (+0.5%) Palo Alto Networks (PANW), $FTNT (+2.89%) Fortinet (FTNT), $CRWD (+0.54%) CrowdStrike (CRWD)

- Core protection for exchanges, wallets and blockchain infrastructure

Hidden champions:

$BBAI (+1.68%) BigBear.ai (BBAI) - Blockchain Fraud Detection

$RIOT (-0.67%) Riot Platforms (RIOT) - Mining with a focus on security

Shovel manufacturer:

$NVDA (-3.24%) Nvidia (NVDA), AMD (AMD) - Chips & Mining Hardware

$NET (+1.04%) Cloudflare (NET), $AKAM (+1.05%) Akamai Tech. (AKAM)

- Network protection for wallets & exchanges

🔑 Takeaway crypto & blockchain

Crypto ecosystems are heavily affected by attacks on exchanges, wallets and smart contracts. While traditional security players provide protection, niche providers such as BigBear.ai and Riskified are emerging that specialize specifically in fraud and blockchain risks.

Source: Own analysis, image material: schwarz-digits

Today I said goodbye to $SMH (+0.93%) today. Despite the volatility, the entry in April was worthwhile and brought a nice profit of +40%, and that with an ETF! It wasn't a long-time play anyway, as it was a sector ETF.

Part of it went into the $QDEV (-0.05%) together with my DCA, and later I will also get $TDIV (-0.74%) get another share.

This means that companies such as $AMD (-6.39%) , $MU (+4.36%) , $INTC (-1.01%) and others are completely out of my portfolio, 0% exposure.

My US share is now <60% and tech at 38%. The top 10 stocks make up less than 30% of the total weighting. This makes me almost as unconcentrated as the $IWDA (-0.69%) and better diversified than the $CSPX (-0.98%) .

New portfolio key figures:

P/E 30.0 (<30) 🟡

Forward P/E 21.6 (<25) 🟢

P/Β 13.0 (<5) 🔴

D/E 0.8 (<2) 🟢

EV/FCF 28 (<25) 🟡

ROE (5-Jahres-Durchschnitt) 50% (>15%) 🟢

EPS growth for the next 5 years 23% (>7%) 🟢

Sales growth (5-year average) 15% (>5%) 🟢

With this high ROE, I am also ok with a high P/E.

Top 10 positions now:

Alphabet $GOOG (+0.19%)

NVIDIA $NVDA (-3.24%)

Broadcom $AVGO (+8.57%)

Microsoft $MSFT (-3.41%)

Meta $META (+0.15%)

Apple $AAPL (-0.6%)

Roche $ROG (-0.46%)

Taiwan Semiconductor $TSM (+3.22%)

Mastercard $MA (-2.62%)

Visa $V (-2.92%)