'Intel (NASDAQ: INTC) Chips Hit by Latest Bug Issue, Investors Remain Steady'

Tech & AI | June 21, 2024, 7:53 p.m.

Intel chips were recently found to have a serious vulnerability, known as CVE-2024-0762, affecting a wide range of processors. Despite this revelation, Intel's stock rose nearly 2% in trading. The vulnerability, dubbed "UEFIcanhazbufferoverflow," allows attackers to gain unusual system privileges through a faulty call in the UEFI firmware. Additionally, Intel is reportedly planning more job cuts as part of cost-cutting measures to regain lost market share to competitors like Nvidia. Analysts on Wall Street have a Hold consensus rating on Intel stock, with a potential upside of 22.33% based on an average price target of $38.02 per share. Overall, Intel faces challenges with security vulnerabilities and competition but continues to pursue growth opportunities in the market.