Cybersecurity looks set to be a hot topic in 2024 as attacks become increasingly sophisticated. It could be another good year for
Palo Alto,
Zscaler,
CrowdStrike,
and other cybersecurity names, according to Wedbush analysts.
Their note comes as
Apple
rolls out changes to better protect users from iPhone thefts—albeit a less technologically advanced crime. Its new security setting highlights the need for companies to adapt and utilize technology in the face of growing threats. The new setting, which could be included in a coming software update, will require touch or face recognition to access and change saved passwords. If the phone is away from a recognized setting—such as home or the workplace—two sets of biometrics will be needed with an hour delay in between. It comes after The Wall Street Journal reported several thefts in which people’s phones were stolen, and personal and financial information accessed just by having the passcode.
“As threats to user devices continue to evolve, we work tirelessly to develop powerful new protections for our users and their data,” an Apple spokesperson said in an emailed statement. “In the rare cases where a thief can observe the user entering the passcode and then steal the device, Stolen Device Protection adds a sophisticated new layer of protection,” they added.
Apple’s in-house fix won’t impact cybersecurity stocks directly but there’s plenty in 2024 to get them moving. Advertisement – Scroll to Continue Federal cybersecurity budgets could rise by up to 30% in 2024, the Wedbush analysts estimated following a series of meetings in Washington. Federal chief information security officers (CISOs) are focusing on how to prepare for artificial intelligence-powered attacks and whether cybersecurity providers can protect against more sophisticated attacks, they said in a note Wednesday.
“As more data, applications, and endpoints access the cloud in the U.S. governmen ..
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