Major security flaws put virtually all phones & computers at risk

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Meanwhile, Intel has issued a statement to its consumer base that the issue is not exclusive for their CPUs and also affect its rival Advanced Micro Devices (AMD) and another CPU manufacturer Advanced RISC Machine (ARM), which is known for manufacturing smartphone processors.

In an online Q&A accompanying their findings, researchers noted that nearly everyone is "most certainly" affected by either Meltdown or Spectre, and there is no way to discover whether those flaws have been exploited by a hacker.

Google meanwhile updating its public cloud service to obviate the Spectre and Meltdown vulnerability told the publication, "We used our VM Live Migration technology to perform the updates with no user impact, no forced maintenance windows and no required restarts".

Apple will release a patch for the Safari web browser on its iPhones, iPads and Mac within days, it announced yesterday. The company says it hasn't found any reports of the vulnerabilities affecting customers as of now.

Customers of Microsoft, the maker of the Windows operating system, will need to install an update from the company to fix the problem. "By the end of next week, Intel expects to have issued updates for more than 90 percent of processor products introduced within the past five years", the chipmaker said.

Researchers on Wednesday published details of the flaw, which unlike many other vulnerabilities stems from the chip itself and how it safeguards private data stored on computers and networks.

Chances are you own a smartphone or computer that contains a chip hackers could potentially exploit to get access to sensitive information.

Apple (AAPL), Amazon (AMZN), Google and Microsoft (MSFT) have reported seeing "little to no performance impact" from the software patches and firmware updates, Intel said in a news release.

An unfortunate downside of the software updates is that they might slow your computers and smartphones. They are pushing out security updates, or patches, which will protect your computer, tablet or phone against a breach that uses the Meltdown vulnerability.

Both exploits are the result of design flaws that allow a malicious program to use what are known as side channels to access system memory (which contains that data being processed) and record it.

"We continue to develop and test further mitigations for these issues and will release them in upcoming updates of iOS, macOS, tvOS, and watchOS", Apple said. The stock dump, which netted him around $25 million, was part of a premeditated stock trading plan that many executives use to manage their holdings, but this plan was only put into place on October 30, according to CNBC. Chrome web browser users are expected to receive a patch January 23. Firefox users will need to be on version Firefox 57.0.4 to be protected against any attack.