Apple sues Israeli company known for hacking and spying software

November 29, 2021

Apple (NASDAQ:AAPL) on Tuesday filed suit against an Israeli company that it says is known for making and selling software that is used in state-sponsored surveillance and spying on individuals' phones and communications.

Apple (AAPL) filed the suit against NSO Group and its parent company, Q Cyber, in the U.S. District Court for the Northern District of California in San Jose. In its filing, Apple said NSO's products and services are used to target individual people, "including government officials, journalists, businesspeople, activists, academics and even U.S. citizens" for the company's commercial benefit.

"They design, develop, sell, deliver, deploy, operate, and maintain offensive and destructive malware and spyware products and services that have been used to target, attack, and harm Apple users, Apple products, and Apple ," said Apple , in its suit. Apple wants a permanent injunction to be issued that would prevent NSO from using Apple software, services, or devices.

In a separate statement, Craig Federighi, Apple 's senior vice president of software engineering, said the company makes "the most secure consumer hardware on the market." However, Federighi said that companies that are developing state-sponsored spyware have caused Apple (AAPL) to take legal action to prevent more cyber attacks on individuals.

"While these cybersecurity threats only impact a very small number of our customers, we take any attack on our users very seriously," Federighi said. "And we're constantly working to strengthen the security and privacy protections in iOS to keep all of our users safe."

Apple (AAPL) said it would alert any iPhone users that might have been attacked with a form of software called FORCEDENTRY.

According to Apple (AAPL) attackers used the FORCEDENTRY software to create Apple IDs that were then used to send malicious data to a person's iPhone. Apple said this then allowed NSO, or its clients, to install a type of spyware called Pegasus on a person's phone without their knowledge."

The company said its own servers were neither hacked, nor compromised, during the attacks.

U.S. government officials recently raised the issue of security risks in the matter of proposed European Union trade rules that would require American tech companies to share some trade secrets with their rivals.

Over the current book year the company from Cupertino could achieve a revenue around 381.61 billion USD (consensus estimates). This is slightly more than 2021's revenue of 365.82 billion USD.

Historical revenues and results Apple plus estimates 2021

The analysts expect for 2021 a net profit of 93.3 billion USD. The majority of the analysts expects for this year a profit per share of 5.74 USD. Based on this the price/earnings-ratio is 27.32.

Per share the analysts expect a dividend of 92 cents per share. The dividend yield is then 0.59 percent. The average dividend yield of the hardware & equipment companies equals a low 1.41 percent.

Latest estimates around 145 USD

ABN AMRO , Barclays and KBC Securities recently provided recommendations for the stock.

Based on the current number of shares Apple 's market capitalization equals 2662.13 billion USD. 35

On Friday the stock closed at 156.81 USD.

Historical stock prices Apple2007-2021

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