Cybersecurity’s The Bull Market of the Next Decade
The Equifax (NYSE: EFX) story’s getting worse. All the major outlets this morning report a looming Congressional investigation.
Reuters reports thirty-six Senators want an investigation into $2 million in stock sales by Equifax execs between the time the company learned of the hack and when news broke last week.
The class action lawsuit talk is hot, too. USA Today says 23 suits have been filed thus far.
Fox Business says it could be “the largest class action suit in history.”
The Verge reports consumers can use chatbot program DoNotPay to sue Equifax in small claims court for up to $25,000 depending on the state. No lawyer required.
CEO Richard Smith, “We accept the criticism.”
Later, “We will make changes.”
One useful change, hindsight being 20/20, would’ve been honesty and forthright conduct as soon as the company discovered the data breach.
Meanwhile, 143 million Americans have had their personal information exposed. Privacy is an illusion.
Tesla’s “Public Service” A Sign Of Things to Come
Everything-automotive site Jalopnik wrote that ahead of Hurricane Irma’s arrival in Florida, Tesla remotely upgraded some Tesla vehicles in the area to extend mileage capacity.
On the surface, this is good public relations from Tesla. More mileage means Tesla owners fleeing Irma could travel more miles between charges.
But the analysis from Jalopnik goes deeper. This is the future of autonomous vehicles. This is the future of “car as computer.” Everything will one day be hackable. Even our cars.
The more connected our lives become, the more vulnerable our data becomes.
The bull market of the decade ahead is cybersecurity.
Consumers will pay a premium for the best cybersecurity solutions. Security firm Palo Alto Networks (NYSE: PANW) over the last month:
Market Rundown for Wednesday, September 13
S&P 500 looks to open flat to perhaps down a tick this morning. Oil’s at $48.65. Gold at $1,337.
The Wall Street Journal yesterday on B12 ran a series of charts showing the “relief rally” in insurance stocks post-Hurricane Irma. Cruise line stocks have also recovered.
Apple yesterday released the iPhone 8, iPhone 8 Plus, and the iPhone X. The X gets Apple to the $1,000 per phone price point. Consumers will pay a premium for top of the line, remember.
But the market yawned. Apple closed yesterday down $0.64. Off another half a percent pre-market.
What comes after another iteration of the smartphone? What’s Apple’s next revolutionary product? Maybe it’s autonomous cars.
Talk to you again on Friday.
For the Rundown,