AMD Stock Shares Down 3.6% Aftermarket After AMD Acknowledges Spectre Security Flaw
On January 11, 2018, SeekingAlpha reported (“AMD drops after acknowledging vulnerability to Spectre flaw”) the following:
AMD . . . shares drop following a Yahoo Finance interview with CEO Lisa Su, who acknowledges again that the company’s chips were affected by the Spectre security flaw.
Key quote: “To clarify, for Meltdown, AMD is not susceptible. We don’t have a susceptibility to that variant. But with Spectre, AMD is susceptible.”
As Google outlined in a blog post earlier today, the Spectre flaw comes in two variants Google called Variant 1 and Variant 2 while Meltdown was Variant 3. Variant 2 was the hardest problem to resolve.
AMD shares are down 3.6% aftermarket.
Intel . . . shares are down 1.6%.
AMD Stock Price Falls Sharply During January 12, 2018 Intraday Trading
On the news of AMD’s January 11, 2018 post-market announcement that AMD’s chips were, in fact, susceptible to both variants of the Spectre security flaw, AMD’s share price dropped sharply during intraday trading on January 12, 2018.
AMD Stock – Yahoo Finance Reports About AMD & Intel Chip Security Flaws
According to the Yahoo Finance story (“AMD CEO on chip security flaws: ‘We’re absolutely all over this’”) reported by SeekingAlpha:
Indeed, all AMD chips are susceptible to Spectre, however the company clarified in a blog post . . . that its AMD Radeon graphics processors are not. [AMD’s] stock dipped nearly 3.8% on [January 9, 2018] after some users with older AMD chips in their computers complained that a Microsoft (MSFT) Windows software patch caused those users’ computers to freeze up and become unusable. AMD expects Microsoft to resume rolling out software patches for those older AMD processors by next week.
The Yahoo Finance story also stated that “nearly every Intel . . . computer processor made starting in 1995 is vulnerable to both Meltdown and Spectre,” and “Intel’s stock has plunged more than 7% this year since the news first hit, in part because its chips are vulnerable to both security flaws but also due to its relative lack of transparency with the public.” Further, according to Yahoo Finance:
Meltdown and Spectre represent two of the largest, most fundamental flaws in computer processor designs in the past 20 years. In the short-term, computers with Intel chips are more likely to suffer from performance issues, leading to compromised servers for cloud platforms, however, it’s still unclear what the longer-term, more far-flung ramifications are for computer users overall. But for AMD and Intel, moving quickly to address these security flaws is vital not only for its stock but more importantly, in maintaining trust with computer owners around the world concerned for their data security and privacy.
AMD Stock – AMD Stock Price (January 8, 2018 – January 12, 2018)
AMD Stock Shareholders – Securities Investigation
Kehoe Law Firm, P.C. is investigating whether AMD and certain of its officers or directors have engaged in securities fraud or other unlawful business practices. If you are an AMD stockholder with questions or concerns, please contact John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], complete the form above on the right or e-mail [email protected].