Cybersecurity: Jim Cramer Says Companies Have to Be Willing to Invest
Following a White House meeting with President Joe Biden, companies across the spectrum of corporate America have made commitments in the fight to enhance U.S. cybersecurity. Here are some highlights:
Microsoft
Microsoft (MSFT) - Get Report committed $20 billion over five years to cybersecurity enhancements with $150 million set aside to help U.S. agencies upgrade protections.
Alphabet
The Google (GOOGL) - Get Report parent pledged $10 billion over five years to strengthen cybersecurity and said it would train 100,000 Americans in IT support and data analytics among other fields.
IBM
IBM (IBM) - Get Report said it would train 150,000 people in cybersecurity skills in three years and would partner with historically Black colleges and universities as part of the effort.
Amazon
Amazon (AMZN) - Get Report said its Web Services division is planning to give account holders free multi-factor authentication devices.
Discussing the importance of cybersecurity, Jim Cramer said that companies must be willing to hurt their quarters in order to secure their futures, particularly in the work-from-home environment.
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Microsoft, Alphabet and Amazon are holdings in Jim Cramer's Action Alerts PLUS charitable portfolio.
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