Fortinet - Investment Thesis

Why They Own It

During the pandemic, Fortinet's sales doubled as people working from home created massive demand for routers to secure home networks. After the pandemic, shares retreated from those highs, and Fundsmith used the weakness to add to their position.

Terry Smith's View

"In the cybersecurity space, they compete with Palo Alto Networks. During COVID, Fortinet's sales were double what they were before. After COVID, the shares came off those highs. We used that to buy Fortin

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