On Wednesday, Qualcomm (NASDAQ:QCOM), the US semiconductor giant, announced that it has addressed several security vulnerabilities within its Adreno GPU and Compute DSP drivers. These vulnerabilities were identified by Google (NASDAQ:GOOGL)'s Threat Analysis Group and Project Zero. The announcement follows ARM's recent disclosure of similar security flaws impacting Bifrost, Valhall, and Arm 5th Gen GPUs in devices like the Samsung (KS:005930) Galaxy S20/S20 FE and Xiaomi (OTC:XIACF) Redmi K30/K40.
The vulnerabilities tracked under various CVE codes are reportedly exploited by state-sponsored threat actors. Among the rectified issues, Qualcomm remedied a memory corruption (CVE-2023-24855), a cryptographic issue (CVE-2023-28540) during a TLS handshake in the Data Modem, and another memory corruption (CVE-2023-33028) within WLAN Firmware. Alongside these, three zero-day vulnerabilities were also patched.
This isn't the first time Qualcomm has had to address such issues. The company previously patched an Automotive Android OS flaw in May 2022. Simultaneously, Arm addressed a vulnerability (CVE-2023-4211) within Mali GPUs' kernel drivers.
In light of these developments, Qualcomm has released updates to mitigate these vulnerabilities and is urging Original Equipment Manufacturers (OEMs) to expedite their deployment. More details about these security measures will be provided in the company's December security bulletin.
These actions underscore Qualcomm's commitment to robust security measures and its proactive stance towards addressing potential threats to its systems and products.
Qualcomm, a prominent player in the Semiconductors & Semiconductor Equipment industry, operates with a high return on assets and yields a high return on invested capital, according to InvestingPro Tips. The company has also raised its dividend for 20 consecutive years, demonstrating its commitment to returning value to its shareholders.
Despite the company's strong performance, InvestingPro's real-time metrics reveal some challenges. Revenue growth has declined by -8.44% LTM2023.Q3, and the revenue growth for FY2023.Q3 quarterly is down by -22.72%. Additionally, net income is expected to drop this year. Nevertheless, the company's market cap stands at a solid 122.26B USD and the P/E ratio is at a reasonable 14.16, suggesting that the company remains a valuable asset in the semiconductor industry.
InvestingPro also highlights that Qualcomm's liquid assets exceed its short-term obligations, indicating strong financial health. The company operates with a moderate level of debt, further underscoring its financial stability. These factors, coupled with Qualcomm's consistent dividend payments and the analysts' prediction of profitability this year, make the company an attractive option for investors.
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