Today, I share a no-brainer action that you can take to profit from a massive tech trend.
According to a study by Zenith Optimedia, this year, we’ll spend 155 minutes on our phones on the internet each day. Five years ago, that number was only 94 minutes.
We spend more than 10% of our day on the internet, checking social media, banking and shopping.
Businesses are also using cloud technology to store data and increase productivity.
But this all comes with a threat: hacking.
Because we spend more time on the internet, and businesses are increasing their digital presence, it’s easier than ever for hackers to steal valuable personal and corporate data.
In this episode of The Bull & The Bear, I tell you what businesses are doing to curb hacking and how you can profit from this trend.
Cybersecurity Cuts the Cost of Cyberattacks
One of the sectors most prone to cyberattacks is financial.
Banks not only deal with money, but they store a treasure trove of personal information on clients:
- Social Security numbers.
- Personal finances.
- Account numbers.
These are ripe for hacking and can give these cyberterrorists access to your money, your credit and even where you live.
An email from a hacker can cost individuals and companies millions of dollars and create significant issues that last years.
But banks and other financial institutions are starting to fight back using cybersecurity.
In today’s episode of The Bull & The Bear, I tell you what businesses are doing to combat cyberattacks and the best way for smart investors to profit on the trend.
The Bull & The Bear
Led by Adam O’Dell and a team of finance journalists, traders and experts, Money & Markets gives you the information you need to protect your nest egg, grow your wealth and safeguard your financial well-being.
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Matt Clark, CMSA®
Research Analyst, Money & Markets
Matt Clark is the research analyst for Money & Markets. He is a certified Capital Markets & Securities Analyst with the Corporate Finance Institute and a contributor to Seeking Alpha. Prior to joining Money & Markets, he was a journalist and editor for 25 years, covering college sports, business and politics.