Cyberattacks will only get worse.
All because the world doesn’t seem to take it seriously.
Even after multiple attacks, we’re still not ready.
That includes the U.S. government, hospitals, corporations, even millions of people all over the world. Most recently, Frontier Communications was forced to shut down certain systems following an attack on April 14 when a third party “gained unauthorized access to portions of its information technology environment,” as noted by SecurityWeek.com.
Medical practices are being forced to close because of the Change Healthcare cyberattack. As noted by HealthCareITNews.com, “The ongoing impact of the February 21 Change Healthcare cyberattack and subsequent system outage threatens the sustainability of physician practices across the country, possibly resulting in closures, which could destabilize patient care in some areas, according to informal survey findings from the American Medical Association.”
Until the world can get on top of the issue, more attacks are likely, unfortunately.
The only “good” thing about the issue is that it’s likely to drive cybersecurity stocks higher, including Fortinet (NASDAQ: FTNT) and Palo Alto Networks (NASDAQ: PANW). We can even look at ETFs, such as the Amplify Cybersecurity ETF (NYSE: HACK).
With an expense ratio of 0.60%, the HACK ETF holds 24 cybersecurity stocks, including Palo Alto Networks, Fortinet (NASDAQ: FTNT), Check Point Software (NASDAQ: CHKP) and Gen Digital (NASDAQ: GEN) to name a few.
Other than those, the HACK ETF portfolio includes a portfolio of companies actively involved in providing cybersecurity solutions that include hardware, software and services. All of which should thrive from the growing global cyber threats.
Again, until the world can get on top of the issue, attacks will only continue.
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