Happy September everyone! It’s hard to believe summer is sort of over, but I for one am looking forward to the return of cooler fall weather, sweaters, and pumpkin flavored everything.
I bet most of you thought celebrity gossip and the financial markets were incompatible. Well, as an avid reader of both The Daily Mail and Bloomberg, I can tell you that sometimes the two worlds intertwine nicely. The big celebrity news this weekend was a massive photo leak. Hackers accessed hundreds of revealing pictures of female celebrities, with targets including Jennifer Lawrence, Rihanna, and Kate Upton.
The pictures were accessed from the celebrities’ iClouds via a security glitch. Although Apple has since fixed the issue, the leak raised some major questions about Apple’s security.
I’m not touching the Apple (AAPL) stock I currently own, since the new products coming out soon will likely overshadow the news. In fact, Apple stock is still trading higher today. What I did instead this morning was buy BlackBerry (BBRY) due to an anticipated price increase from the iCloud leak effects and a new product offering.
First, the iCloud leak allows BlackBerry to capitalize on its reputation as the safest mobile platform. Blackberry has long had this reputation, and the company’s security cache is a main reason many investment banking and government employees continue to use BlackBerry. BlackBerry’s security rating was upped further a few weeks ago, when the Department of Defense gave a green light to use BlackBerry security measures to push sensitive data to colleagues.
On top of the safety aspect, BlackBerry has new leadership, more cost efficiencies, and a new product coming out soon. The BlackBerry Passport is slated to come out in late September, and it’s essentially a combination of a tablet and a smartphone. It features a larger display and an actual keyboard. The phone is also rumored to be pre-loaded with BlackBerry Blend, a software that allows you to sync your phone and desktop.
Apple’s security issues taking place so soon before the new product’s launch may be a huge benefit to BlackBerry, with the Passport not only offering new features, but an enhanced sense of security. I’m planning to hold the stock for at least the next few months while I evaluate how the market reacts to BlackBerry’s new product.