Despite some pundits blaming Microsoft for the recent cyber attacks on their old operating systems, many investors have seen it as a likely source of a windfall for Microsoft, as companies and consumers who have long held out on upgrading finally realise the importance of running an up to date operating system.
This may explain why Microsoft’s share price has hit a new milestone, crossing $70 for the first time ever.
It turns out that the Wannacrypt attack may end up just being a positive for Microsoft, as the feared PR hit to Microsoft from the attack also did not materialise.
Recent research by Morning Consult, polling 2,148 adults, found only a quarter were less likely to buy a product from Microsoft.
57% were concerned about using Microsoft software, but thirty-nine percent said it made no difference, and 19% said the attacks made them more likely to buy Microsoft’s products.
Just a week after the Wannacrypt attacks, 83% of those surveyed said they view Microsoft and its products favourably.
Consumers, in fact, took more personal responsibility for their cyber safety. Many consumers were now downloading security updates, using different passwords for different websites, and 54% updated their PC or laptop as soon as patches came out, while 68% had security software installed on their PC.
“The strength of Microsoft’s brand leaves it largely unscathed by the recent security issue — unlike its tech industry peer Yahoo Inc. After disclosing its own data breach, Yahoo’s favorability fell 10 percentage points, polling shows,” Morning Consult said.