Episode summary
Hackers Exploit Microsoft SharePoint as Firm Works to Patch | Bloomberg Intelligence
Bloomberg Intelligence
· · Hosts: Paul Sweeney, Lisa Mateo · Guests: Anurag Rana, John Butler, Steve Man, Michael Halen
Summary
Microsoft’s SharePoint security issue was described as serious but narrower than last year’s CrowdStrike outage because it is tied mainly to on-premise workloads rather than cloud infrastructure. The guest argued that cyber risk remains one of the biggest hidden threats for major tech companies, but that this specific incident may also nudge customers toward cloud migration over time. He also said the event is positive for cybersecurity vendors, which continue to see steady demand regardless of the macro backdrop.
The discussion then shifted to software IPOs, with Figma presented as a standout. The guest said the company has a unique product for designing applications from ideation through publishing, faces little credible competition, and could sustain sales growth north of 40% this year and next. He estimated revenue could reach $1.6 billion by the end of next year and put the proposed valuation at roughly $19 billion to $23 billion.
On Verizon, the guest said the company is improving incrementally through pricing actions, better execution, and preparation for the Frontier acquisition. On Stellantis, the guest framed the reported first-half loss as a “kitchen sink” reset under new CEO Antonio Filosa, while Domino’s was highlighted for strong comparable sales, loyalty gains, and DoorDash expansion that should support share performance.
Key takeaways
- The guest said Microsoft’s SharePoint breach risk is mainly limited to on-premise software, making it less severe than a cloud-wide outage.
- Cybersecurity firms should benefit because the guest sees cyber defense spending as resilient in almost any macro environment.
- Figma was described as a high-share, differentiated software business with sales growth expected north of 40% this year and next.
- The guest said Verizon’s pricing actions and network upgrades are steadily improving results ahead of the Frontier deal.
- Stellantis’ new CEO Antonio Filosa is still early in the job, and the guest said the company’s North American weakness and tariff exposure remain key questions.
Notable quotes
“this is probably the most important and you know, biggest risk for them”
“it's only affecting those particular workloads. So it's not as widespread as some of the other areas we have seen”
“We anticipate sales growth north of 40% both for this year and next year”
“I think all the actions they've taken are starting to work”
“I think the same could happen to Figma when you know a lot of people don't know what these guys do”
How the episode opens
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Stay in the in the TMT space, uh, if you will. We're going to talk about check in with Honor Ronnie. He's a Bloomberg senior tech analyst uh for Bloomberg Intelligence.
Honorag, you know, uh Microsoft as well as anybody. Put into context for us this cyber security attack. It's been certainly at the top of the news here this morning and it just kind of I think at least to me is surprising that a company with the resources and the technology expertise of uh Microsoft that they could in fact still be subject to this type of risk.
How should we think about it? Yeah, Paul, when it comes to almost all the major tech companies, this is probably the most important and you know, biggest risk for them. And again, you know, whether it's Microsoft or Amazon or Google, you know, this is one of the biggest worries for all of us is, you know, you wake up one morning and you see a big outage out there.
I mean, almost a year ago, we remember that crowd strike problem and what it did to, you know, airports and all the other things. Now, but in this particular case, I think it's a lot less problematic than what we saw a year ago. This is primarily based on certain onremise uh software.
I mean there is an on-remise version of SharePoint software that they have. This is the it's only affecting those particular workloads. So it's not as widespread as some of the other areas we have seen.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- sharepoint security
- verizon earnings
- stellantis results
- domino's pizza earnings
- foodservice industry outlook
Companies and tickers mentioned
- MSFT
- VZ
- STLA
- DPZ
- Microsoft
- Verizon Communications
- Stellantis NV
- Domino’s Pizza
Watch the episode
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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