Nvidia Rival AMD Downplays Cyberattack, Says No 'Material Impact' On Business: 'Limited Amount Of Information' Was Accessed
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 20 2024
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Source: Benzinga
- AMD Cyberattack: AMD confirmed that a recent cyberattack by Intelbroker did not compromise critical business information.
- Limited Data Access: The intrusion only accessed a limited amount of information related to product specifications from a third-party vendor site.
- Business Impact: AMD stated that the breach is not expected to have a significant impact on its business or operations.
- Competitor in AI Chips: AMD, a competitor to Nvidia in AI chip development, holds valuable technological expertise and proprietary information.
- Investment Opportunities: AMD stock has risen by 30% in the past year, offering investment opportunities through ETFs like SPRX and AOTG.
Analyst Views on AOTG
Wall Street analysts forecast AOTG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AOTG is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
