T-Mobile (NASDAQ:TMUS) is investigating a data breach on its network that is expected to have compromised the personal data of about 37 million customers. The company expects to incur considerable expenses due to this incident.
The wireless network operator said that a “bad actor” accessed data from one of its application programming interfaces on January 5. With the help of external cybersecurity experts, T-Mobile controlled the cybersecurity attack within 24 hours.
The hacker accessed customers’ information such as name, billing address, email, phone number, date of birth, and T-Mobile account number and plan details. The company stated that the “most sensitive types of customer information,” such as payment information, password, and social security pin, among others, were not accessed by the hacker.
T-Mobile has already informed federal agencies about this attack and is working closely with them. Furthermore, it has started notifying the impacted customers about the data leaked.
In mid-2021, the company reported another cybersecurity incident in which information of over 76 million customers was stolen. T-Mobile has since made several investments to strengthen cybersecurity control measures.
Is T-Mobile a Buy, Sell, or Hold?
The consensus among analysts is a Strong Buy based on 14 Buys and 1 Hold. The average price target of $182.62 implies upside potential of 25.8% from current levels. TMUS stock has already gained about 4% so far in 2023.
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