Major tech outages happened worldwide as issues with a CrowdStrike (CRWD) software update disrupted airline operators, banking institutions, and healthcare systems. Global issues arose after CrowdStrike updated software in Microsoft Windows (MSFT) systems.

Citizens JMP Securities equity research analyst Trevor Walsh joins Market Domination to give insight into the incident with CrowdStrike and what it means for company and those in the cyber security sector moving forward.

Walsh argues this incident won't really affect CrowdStrike's overall health ahead of its next earnings release on September 4, reducing it to "one-off basis" rather than a broader risk to the cybersecurity firm.

"The criticality of CrowdStrike as a security platform tends to, I think, outweigh some of those issues in the sense of customers can't afford to just turn them off and not renew because of one incident. They're just too tied into the ecosystem," Walsh tells Yahoo Finance. "They're too critical of a tool and what kind of within the overall stack. So I think those conversations certainly have the potential to emerge..."

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This post was written by Nicholas Jacobino