Nvidia Rival AMD Downplays Cyberattack, Says No 'Material Impact' On Business: 'Limited Amount Of Information' Was Accessed
Portfolio Pulse from Benzinga Neuro
Advanced Micro Devices Inc. (AMD) confirmed that a recent cyberattack did not compromise any critical business information. The intrusion accessed a limited amount of data related to product specifications from a third-party vendor site. AMD stated that the breach will not have a material impact on its business or operations. Despite the news, AMD's stock closed down 2.38% on Wednesday.
June 20, 2024 | 6:19 am
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NEUTRAL IMPACT
AMD confirmed that a recent cyberattack did not compromise any critical business information. The breach accessed limited data from a third-party vendor site and is not expected to have a material impact on AMD's business or operations.
The cyberattack did not compromise critical business information, and AMD has stated that it will not have a material impact on its operations. This suggests that the long-term business outlook remains stable, though the stock saw a short-term decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
The AOT Growth and Innovation ETF (AOTG), which includes AMD as a holding, may experience minor short-term volatility due to the news of the cyberattack on AMD. However, the impact is expected to be limited as AMD confirmed no critical business information was compromised.
AOTG holds AMD, and while the cyberattack news may cause minor short-term volatility, the overall impact is expected to be limited as AMD confirmed no critical business information was compromised.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The Spear Alpha ETF (SPRX), which includes AMD as a holding, may see minor short-term volatility due to the news of the cyberattack on AMD. However, the impact is expected to be limited as AMD confirmed no critical business information was compromised.
SPRX holds AMD, and while the cyberattack news may cause minor short-term volatility, the overall impact is expected to be limited as AMD confirmed no critical business information was compromised.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50