The Spectre and Meltdown chip bugs have captured the tech world’s attention, dropping Dow component Intel Corporation into three-month support in the low $40s. The massive scope of the security flaws make product recalls a near impossibility, but software fixes are already being distributed, and the chipmaker is unlikely to depart from its bullish trajectory in the coming weeks, offering a potential buying opportunity.
The bugs are not company specific, also affecting Advanced Micro Devices, Inc. and ARM Holdings, co-owned by SoftBank Group Corp. and Vision Fund. Highly liquid Intel stock has offered a convenient target for short sellers and predatory algorithms, but at least so far, the decline has generated little or no technical damage. Even so, dip buyers may wish to wait for a down leg that fills the Oct. 27 gap between $41.50 and $43.50 before jumping on board. (See also: AMD Stock: Dip Buyers Locked and Loaded.)
Intel shares sold off on heavy volume after disclosures about a worldwide security flaw but could offer a low-risk buying opportunity. …read more
Read more here: Intel Decline Could Mark Buying Opportunity
Category: INTC, AMD