Big Tech Beats Mother Russia
A new American hero has emerged…
It’s big tech. Namely Microsoft (NASDAQ: MSFT).
Last week the tech giant thwarted attempts by Russian hackers seeking to influence and disrupt American democracy.
According to Yahoo Finance: “Microsoft Corp. warned that cyber-attackers linked to the Russian military are once again targeting American political groups, in a potential attempt to manipulate and disrupt the U.S. midterm elections in November.”
The extent of this hack attack is mind-boggling.
Reuters reports hackers created “spoof sites” to mimic legitimate websites belonging to the U.S. Senate, two conservative think tanks in and Microsoft’s OneDrive cloud storage service.”
Using these fake sites hackers hoped to gain access to sensitive login details on various computer networks and the confidential information housed on these networks such as emails and passwords.
In response to the discovery Microsoft immediately took control of the six domains in question.
Thankfully, Microsoft said it had no evidence the hackers succeeded in compromising any credentials or stole any data, reports Reuters.
U.S. Tech – 1. Mother Russia – 0.
And while the implications of this discovery are grave from a geopolitical sense… there’s good news hiding underneath the surface of this report.
Cyber security plays could skyrocket off this news.
This is a drastic situation that calls for drastic action. Meaning cyber security companies will be working extra hard to stay ahead of the next attack.
Governments and corporations alike will spend top dollar to ensure their systems and information is safe and secure.
Last year’s WannaCry ransomware attack was the wake up call that set the tone for a surge in cyber security stocks.
This most recent attack could be the catalyst that powers the space to new, all-time highs.
Looking at the PureFunds ISE Cyber Security ETF (HACK) we can see how the increased demand for better cyber solutions is already lifting the space.
After lagging the broader market for most of 2017, cyber stocks are now one of tech’s leading sub-sectors.
Here’s the chart for HACK, as compared to the S&P 500 and Dow indexes, year to date.
Cyber security stocks did an exemplary job hanging onto their gains as the major averages tested their correction lows at the start of the second quarter.
Now HACK is displaying all the telltale signs of market leadership.
And with this latest attack, it’s more obvious than ever before…
We need better cyber security and fast.
Meaning the next wave of cyber security solutions, and profits for you are coming soon.
For Technology Profits Daily,
Chief Technology Expert, Technology Profits Daily