Are Your Devices Protected Against This Cyber Threat?
Our connected world is growing at an alarming rate.
Folks in the industry call this massive realm of connectivity the internet of things. The network is huge. It’s growing more every day.
It’s also opening your home to hackers…
Cyber criminals have turned innocuous devices such as DVRs and webcams into gateways they can use to access secure systems.
Back in the fall, hackers infected connected devices with malware which they then used to take down major websites around the world with a coordinated attack.
The attacked knocked out service to popular sites such as Twitter, Netflix, Spotify in parts of the U.S. and Europe.
“Software IT company Dynatrace monitors more than 150 websites, and found that 77 were impacted,” CNN reports. “The disruption may have lost companies up to $110 million in revenue and sales.”
Of course, smaller cyber-attacks happen every single day. In our connected world, only the paranoid survive.
Between 2013 and 2015, the world lost $1.2 billion to hackers. That’s a lot of dough. And it’s only going to get worse…
Last year when I met with some cyber security insiders, they told me a company typically doesn’t get all its money back when hackers strike with ransomware or a data breach. Once it’s stolen, it’s gone.
Scary stuff— and yet another reason we’re bullish on the cyber security industry. We’re seeing some very bullish action in the cyber security sector right now. If this group of stocks can capture a little momentum this quarter, cyber security could become one of the hottest trades of the year.
Just check out the longer-term chart of the PureFunds Cyber Security ETF (NYSE:HACK):
HACK is more than a clever ticker symbol. This ETF is flashing a strong breakout that could help propel stocks in the cyber security industry to new highs.
Cyber security trades were mostly underwhelming in 2016. The entire sector took a massive hit during the winter downturn. And sometimes big idea trades—no matter how impressive—get gobbled up by an ornery market. That’s just the way it is.
But we’re seeing strong buying as we head into the second month of 2017. I have no doubt that many of these stocks will march higher in the long run. Cyber security will become one of the most lucrative plays of the decade. We’ve told you before that cyber security is set to become a $200 billion industry in just five years.
All it will take is a little positive news to get the industry moving in the right direction again. That news might come in the form of a Trump executive order…
The president was supposed to sign an order on Tuesday that will hold cabinet secretaries and agency heads accountable for the cybersecurity at their respective organizations. As of now, the measure appears to be delayed.
In reality, a gesture like this probably won’t do much for the cyber security industry. But it would put the topic of cyber security back in the news. That could be all we need to get a little wind at our back to help move this group to new highs…