Intel Corporation (NASDAQ:INTC) stock is on track for its worst day in over a year after the company reported a massive security flaw that has put millions of computers at risk. The Intel security flaw could prove to be a windfall for Advanced Micro Devices, Inc. (NASDAQ:AMD) and NVIDIA Corporation (NASDAQ:NVDA), or at least, investors seem to think so.
Intel stock slumps as AMD stock and NVIDIA stock surge
Intel stock and AMD stock are the two most heavily traded stocks in the S&P 500 Index, according to MarketWatch. By early afternoon, more than 60 million shares of Intel stock had changed hands, while about 90 million shares of AMD stock had been traded. By comparison, Intel’s 50-day average daily trading volume is at roughly 29.5 million, while AMD’s average daily volume stands at about 52.4 million.
AMD stock surged by about 9% in intraday trading on Wednesday, climbing as high as $12, its highest level in two months. In contrast, Intel stock tumbled by about 6% to as low as $43.65, tracking toward its worst one-day loss by percentage since October 2016.