Intel’s chips have been found to contain a critical bug that could potentially compromise security, but despite this news, Intel’s shares saw a nearly 2% increase in trading. The bug, known as CVE-2024-0762 or “UEFIcanhazbufferoverflow,” affects a range of Intel processors involved in SecureCore Unified Extensible Firmware Interface (UEFI) firmware. The issue was first discovered in May but recently brought to light by Eclypsium researchers. This bug involves a faulty call to a GetVariable runtime service, which could allow unauthorized users, such as hackers, to gain access to system privileges and potentially access stored data.
In addition to the security concerns, reports have surfaced about Intel planning to implement more job cuts as part of an effort to regain market share lost to competitors like Nvidia. Despite facing challenges, Intel is aiming to leverage government funding to become a full-fledged chip foundry.
On Wall Street, analysts have given Intel a Hold consensus rating with three Buys, 26 Holds, and three Sells over the past three months. The average target price for Intel stock is $38.02 per share, indicating a potential upside of 22.33% from the current price.
Overall, Intel is facing both technical and business challenges that may impact its future performance in the market. Investors are advised to closely monitor developments within the company to assess its potential growth prospects.
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