While some momentum tapered off slightly, demand for secure cloud solutions in recent years drove significant growth for Microsoft, contributing to investment firm Wedbush's expectation that shares will climb during the next year, Markets Insider reported.
The current work-from-home environment "is further catalyzing more enterprises to make the strategic cloud shift with Microsoft across the board with Azure growth remaining brisk," analyst Dan Ives said in a note to clients.
The analyst firm pointed to cloud growth as one of a handful of tech trends that remained strong and even grew more prevalent amid economic challenges tied to the pandemic. Wedbush also pointed to the December cyberattack of SolarWinds as another catalyst for growth, as more customers scrambled to find proven cybersecurity offerings.
U.S. critical infrastructure organizations have been noted by the Department of Homeland Security to be at risk of cyberattacks leveraging artificial intelligence, with China and other nation-states exploiting the technology to deploy more advanced malware attacks and influence operations, CyberScoop reports.
Major U.S. consumer product leasing firm Progressive Leasing has disclosed that some of its systems have been impacted by a cyberattack that resulted in the significant compromise of personally identifiable information belonging to its customers and other individuals, according to The Record, a news site by cybersecurity firm Recorded Future.