I was a wild week for Apple Inc. (NASDAQ:AAPL), filled with dramatic ups and downs. September 9, the day when Apple’s “Fab Fall” products will be revealed, is approaching fast, and excitement continues to mount.
On the minus side, this past week saw the headline-grabbing scandal of the celebrity nude photos stolen from Apple’s iCloud. It was also bad news for Apple when rival Samsung (PNK: SSNLF) unveiled its new tablet. These two events sent AAPL into its largest one-day decline in seven months yesterday (Wednesday, Sept. 3). The one-day 4.4 percent drop was a market loss of $26.1 billion for Apple.
The damage may be limited, though, as AAPL is back up so far this morning.
Overall for the past week, from Wednesday to Wednesday, AAPL dropped 3.12 percent, while the overall market was mostly unchanged. All of AAPL’s drop for the week occurred during the big fall-off yesterday. Until then, AAPL had been trending gently upwards.
Is Apple to Blame for Celebrity Nude Photo Breach?
As of this morning, Apple maintains that the hacking was not a breach of iCloud or Find My iPhone security, but instead was a targeted attack on the names, passwords, and security questions for celebrity accounts.
The FBI is investigating but has not yet issued any comments.
Cybersecurity experts think that the breach could have been a brute force attack, where hackers ran through huge numbers of possible passwords, and/or a phishing attack, where hackers used tricks to get the victims to reveal their log-on information themselves. There was also speculation that the celebrities’ passwords and/or security question answers were too obvious, making it easier for hackers to guess what they were.
Meanwhile, in general public perception, the breach has raised some doubts, at least for the moment, about Apple’s security measures. If these doubts last, it could have an effect on the public’s willingness to embrace Apple’s upcoming health monitoring and payment systems, both of which require users to trust Apple’s ability to keep private and sensitive information secure.
Product Release Rumors
With Apple’s big media event coming up on Tuesday, Sept. 9, the rumors keep on coming