Nude pictures of Jennifer Lawrence, Kirsten Dunst, Kate Upton and Kim Kardashian not only threatened to crash the internet last week, but cause a major downswing for Apple’s shares. However, if you were to log onto trade fair online recently, you’d have seen that the compromising images and rumours of a security breach had little bearing on the Apple’s financial strength.
Indeed, despite rumours circulating that the source of nude celebrity photos was a flaw in Apple’s iCloud software, the company’s share price closed at $103.30 late last week. This represents an immediate increase of 0.78% and a +48.41% rise during 2014, leaving the company with a $618.55 value.
So what does this mean for all of you wanting to reach for you mobile device and make an investment using Trade fair?
Well, in a nutshell, it means you can’t always rely on some negative press to cut the price of a company’s shares. Of course, thanks to Apple’s brand strength, it would take a lot to see it lose any sort of significant value after a news story; however, when you factor in that many of Hollywood’s top female stars were caught up in the account hack, many would have predicted a slight dip in fortunes.
Something that seems to have helped Apple’s share price remain strong is that any security breaches were unconnected, according to a company spokesperson. Brushing aside claims that a fundamental flaw in the design of its iCloud allowed the account of more than 40 celebrities to be hacked, an Apple spokesperson stated that it was simply down to individuals being targeting.
Your Data is Safe
Explaining that 40 hours of investigations had confirmed that various accounts had been the target of computer hackers, Apple stated: “None of the cases we have investigated has resulted from any breach in any of Apple’s systems including iCloud or Find my iPhone. We are continuing to work with law enforcement to help identify the criminals involved.”
Pictures of nude celebrities aside, the recent stock market rise by Apple seems to have been helped by the impending release of its new iPhone product. Releasing hardware and software upgrades, the company will be giving users the ability to store more sensitive information on their mobile phone. Thanks to a host of new secure features, iPhone advocates will be able to lock personal data, such as debit and credit card information, in a virtual safe. Of course, the latest security breaches will no doubt be a concern for users of this new function; however, Apple has assured customers that its latest products will be 100% safe.
However, following the launch of the iPhone 6, iPhone 6 Plus and the Apple Watch the company’s share price went through a series of highs and lows. After Apple Pay was announced the price hit a daily high, but by the time the watch was unveiled they began to tumble. Eventually, Apple’s share price was down by the close of play. Fortunately, with a few weeks for customers to take in the latest slew of information, it’s expected that Apple’s shares will continue to climb in the coming months.
