'If You're A Lawyer For Crowdstrike, You're Probably Not Going To Enjoy The Rest Of Your Summer': Microsoft-Crowdstrike Outage Could Top $1B In Costs, Analyst Says
Portfolio Pulse from Benzinga Neuro
A recent global tech outage caused by cybersecurity firm CrowdStrike (NASDAQ:CRWD) could cost over $1 billion, with potential legal and financial repercussions. The outage disrupted various sectors and affected millions of devices. CrowdStrike's reputation may suffer, impacting its ability to attract new customers. Microsoft (NASDAQ:MSFT) shares were up slightly despite the incident.
July 22, 2024 | 11:12 am
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NEGATIVE IMPACT
CrowdStrike faces potential costs exceeding $1 billion and possible legal challenges following a global tech outage caused by a faulty software update. The incident has damaged the company's reputation, which may hinder its ability to attract new customers.
The outage caused by CrowdStrike's faulty update has significant financial and legal implications. The company's reputation is also at risk, which could affect its market position and future revenue.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100
NEUTRAL IMPACT
Microsoft shares were up 0.7% despite the global tech outage caused by CrowdStrike. The incident did not significantly impact Microsoft's stock price.
Microsoft's stock price showed resilience and even increased slightly despite the tech outage caused by CrowdStrike. The incident did not have a significant negative impact on Microsoft's market performance.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50