5 things you need to know in Australian tech today

It’s Wednesday. Here’s what you need to know in Australian tech today.

1. Apple got crushed. Stock was down 5% today, partly because investors are concerned about iPhone and Apple Watch sales. KGI Securities recently issued a note saying that iPhone growth is expected to remain flat or go negative in the fourth quarter of 2015. Another reason is a slow down in China. There’s more here.

2. CommBank wants to be the tech bank and it’s throwing cash at the cause. Posting its results this morning, the bank makes $1 million profit each and every hour. Over the past 12 months the bank has invested $1.2 billion in risk and compliance projects, technology and productivity. “Technology again featured strongly in the high levels of investment that we maintained throughout this financial year,” CommBank CEO Ian Narev said. The full story is here.

3. The volume of cyber security threats business has to deal with are enormous. Attacks are getting sneakier, and more expensive to fix. On average it takes about 205 days between a company being hacked and detecting the compromise, a recent Mandiant report found. The volume of security threats is enormous and protecting an organisation from them has transitioned from an issue dealt with in the IT department to one regularly handled in the board room. There’s more here.

4. Despite all the changes to Google this week the company’s little Australian office has been left, largely, alone. Regional outposts aren’t notified of such big announcements before they land in case they spill them. According to the AFR everyone who worked for Google Australia last week essentially worked for Google Inc this week and after the launch of the new parent company yesterday, nothing in that reporting line has changed.

5. Sydney scientists have created a chip using quantum physics to stop hackers. The development by a team at the University of Sydney paves the way to explore a new platform for quantum photonic technologies for secure communications. Previous goes at this relied on bulky components which couldn’t be integrated with phones or computers and remain portable. More here.

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