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Cybersecurity Stocks To Watch In The Wake Of Tim Cook's Letter

Apple Inc. (NASDAQ: AAPL) CEO Tim Cook wrote an open response to the FBI's request to build a backdoor to the iPhone.

Cook noted that the entire company was "shocked and outraged" following the "deadly act of terrorism" in San Bernardino. The executive fully complied with all requests for assistance.

Apple also made its engineers available to advise the FBI, as Cook added "we have no sympathy for terrorists." However, the FBI is now requesting Apple make a new version of the iPhone operating system and install new software which have the potential to unlock any iPhone in someone's physical possession.

Related Link: Tim Cook: FBI Is Asking Apple For Something Too Dangerous To Create

"The FBI may use different words to describe this tool, but make no mistake: Building a version of iOS that bypasses security in this way would undeniably create a backdoor," Cook wrote. "And while the government may argue that its use would be limited to this case, there is no way to guarantee such control."

Cybersecurity was a hot sector in 2014 and 2015, but stocks' popularity and price have waned in recent months.

Cybersecurity related names were little changed Wednesday morning, with shares of FireEye Inc (NASDAQ: FEYE) unchanged at $13.21. Check Point Software Technologies Ltd. (NASDAQ: CHKP) and Symantec Corporation (NASDAQ: SYMC) showed no trades.

Cyberark Software Ltd (NASDAQ: CYBR) was up about 1.2 percent. PureFunds ISE Cyber Security ETF (NYSE: HACK) is also one to watch for any cyber-related news.

Cook wrote that the government is asking the company to "hack our own users and undermine decades of security advancements that protect our customers — including tens of millions of American citizens — from sophisticated hackers and cybercriminals." As such, the company is "challenging the FBI's demands with the deepest respect for American democracy and a love of our country."

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