Apple (NASDAQ:AAPL) may benefit from Home Depot (NYSE:HD) security breach
The American home improvement and construction services and product manufacturing company Home Depot (NYSE:HD) has taken the spot light away from the recent incident of security breach. It was disclosed by the company that it is a victim of one of the biggest security breaches even bigger that Target’s last year. The company proclaimed that in duration of just 5 months over 56 million debit and credit cards were compromised. This got even worse when 53million email addresses were also stolen from Home Depot (NYSE:HD) just last week. However some analysts think that Apple (NASDAQ:AAPL) might unintentionally benefit from this incident. Hacker hacked through third party vendors by stealing login credentials to get access to its systems according to Home Depot (NYSE:HD). The hackers then collected the payment information by injecting costume designed malware into Home Depot (NYSE:HD)s self checkout systems. The company has been proclaimed as one of the biggest victims of cyber attack. While Apple (NASDAQ:AAPL) can greatly benefit from this incident by utilizing its key selling feature of security which is integrated directly into the service. Apple (NASDAQ:AAPL) uses the tokenization method protocol which adds an additional layer of security by hiding the underlying credit card number and instead uses device specific account number that cannot be used outside of the scenario of particular transactions thus completely blocking the hackers.
The broader industry is slowly coming towards tokenization as it realizes the dangers of cyber attacks and hacker threats in an age where these things have become too common. Apple (NASDAQ:AAPL) pay is not the only existing service in the field but it can be a pioneer to this new business applicable technology to prevent hacking, thefts of information and cyber attacks. The threat has still not passed as the hackers left the message of more cyber attacks, the deteriorating situation will only increase the need of a reliable system like Apple (NASDAQ:AAPL) pay. Apple (NASDAQ:AAPL) pay awareness will also cause a rise in iphone sales by spreading security awareness. While the Wallstreet journal reported that when the attack was conducted and breach had started Microsoft (NASDAQ:MSFT) shortly dispatched a security patch to Home Depot (NYSE:HD) security system but it was too late, the system was already infected and the hacker had already gained access to all vital information. This caused the Home Depot (NYSE:HD) to buy Apple (NASDAQ:AAPL) iPhones and MacBooks for the executives for added security. The Apple (NASDAQ:AAPL) will be earning huge revenues if the corporate sector realizes this threat and starts to adopt Apple (NASDAQ:AAPL) security system. Apple (NASDAQ:AAPL) in partnership with IBM is shifting its increasing focus on mobile devices, while its product halo could be a source of achieving higher Mac sales. However Apple (NASDAQ:AAPL) has left Microsoft (NASDAQ:MSFT) behind in innovation and production. It’s hard to say that switching to Apple (NASDAQ:AAPL) will keep their data safe but for now it is surely reassuring to the people in Cupertino that people will still turn to Apple (NASDAQ:AAPL) when they want their data to stay safe.