The classic Star Wars film franchise has inspired a new group of cybercriminals. The group calls themselves “DarkSide,” and much like the Dark Side in the films, they are a force to be reckoned with. They’ve already made millions since going public two weeks ago.
The “DarkSide” hacks accounts and threatens to erase the companies’ data unless they pay a ransom. To play “fair” the hackers first scan accounting records to make sure that the company can afford to pay. They’ve also promised not to target hospitals, schools, universities, non-profit organizations or the government. So, at least they have some sort of a conscience!
While the “DarkSide” is a new group, the reality is hacking is not uncommon. In fact, on average, hackers break into computers every 39 seconds. And, unfortunately, hackers are taking advantage of the coronavirus pandemic to attack vulnerable networks with so many people working primarily from home now. In fact, the FBI found a 300% increase in reported cybercrimes since March.
The good news is there is “A New Hope,” (Star Wars pun intended!), on the cybersecurity front following the recent spike in cybercrime. Major software companies like Microsoft (MSFT) are coming up with new ways to better protect people’s information.
One of Microsoft’s top priorities is enabling multi-factor authentication (MFA), which was flagged as a top security investment made by businesses during the pandemic. This type of tool requires the employee to verify their credentials when they login.
Phishing scams have also been a huge problem recently, but with cloud-based detection tools working alongside top data scientists and artificial intelligence (AI) powered robots, the 8 trillion daily threat signals are tracked and avoided by Microsoft.
Many companies are also taking on a zero-trust standard, refusing to trust any unknown and potentially unsecure devices logging onto companies’ networks while employees work from home.
The cloud is an important key in the fight against cybercrime, as it can adapt to whatever the company needs, from authenticating access to filtering traffic. It also stores the data remotely instead of internally within the company’s databases. So, the cloud can keep cybercriminals out of a company’s larger pool of information. It’s one reason why my Growth Investor cloud computing plays have been on a hot streak over these past few months. One is up more than 90% since March!
Luckily, the influx of cybercrime has been a wake-up call for many folks. By the end of 2021, analysts are forecasting companies to spend over $6 trillion on cybersecurity worldwide.
My Play for the Cyber “Resistance”
In Star Wars, the only way to fight the Dark Side is to form a resistance. In this case, that resistance is cybersecurity companies.
There are a lot of cybersecurity companies out there now, but as an investor, I am only interested in the crème de la crème of cybersecurity. The good news is I’ve found the one that will be companies’ go-to to protect themselves from hackers. It provides unified security solutions that can be deployed over digital networks to protect users against malware, spam and network intrusions.
And it uses artificial intelligence to analyze over 100 billion security events to help stay ahead of potential cybersecurity threats. This gives it a major advantage over competitors.
The stock is up 64% since my initial recommendation in Growth Investor in August 2018, and its fundamentals remain strong today. In fact, it reported double-digit year-over-year earnings and sales growth in the most-recent quarter. So, I expect this stock to keep moving higher well into next year.
If you’d like to learn more, sign up here for my Growth Investor service. Once you do, I’ll give you the name of the company and my free report, The One AI Company Set to Corner the Booming Cybersecurity Industry, where I go into all the specifics on this cybersecurity company and talk more in-depth about why I believe cybersecurity is virtually guaranteed to soar. Get the details now.
I strongly encourage you to sign up now, as not only will you receive all the details on my cybersecurity company, but I also just released six more recommendations in Friday’s Growth Investor September Monthly Issue, which you’ll have full access to as well. I expect these stocks to skyrocket next year, and I don’t want you to miss out on any potential gains. Click here for all the details .
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