The recent attack on Apple Inc’s (AAPL – Analyst Report) iOS app store has forced the bellwether company to take serious cognizance of security issues. Once believed to be nearly impregnable, the iconic brand had to immediately launch a massive clean-up drive. Apple has had to remove around 40 apps from its store.
But this incident, coming on the heels of several others such as the federal government’s Office of Personnel Management’s (OPM) security breach, has yet again brought cybersecurity into focus. This should lead to increased activity for the cybersecurity companies. This is why it may be a good idea to add stocks from this sector to your portfolio.
XcodeGhost Spooks App Store
The company has an app ecosystem which survived for many years without a serious malware attack. According to Reuters, only five apps from the official App Store have ever been found to contain malicious code.
Apple app creators utilize Xcode, a developer tools suit to create software for its app store. Apparently, hackers lured developers to utilize a duplicate version of Xcode called XcodeGhost to create iOS and Mac apps. This malicious code was then embedded into those apps. Though the malware has limited functionally and there aren’t any data thefts, it underscores the vulnerability of the iOS platform.
Apple has an extremely stringent screening process to detect malware. However, security researchers believe XcodeGhost’s breach of the procedure exposes the vulnerability of the iOS system to similar attacks in the future.
“Great Firewall” to Blame?
China’s authorities utilize strong controls on the Internet in that country. This “Great Firewall” of projects and legislations which seek to censor the Internet in China may be blamed partially. In addition, the infrastructure which connects China to the rest of the world is believed to be weak. This makes downloads from overseas slow and uneven.
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