You do know that INTC is up compared to 1 month ago? If it didn't drop that much on the initial announcement, why would it plummet in the coming months?
Because there is no quantifiable impact yet. Right now all that's known is "mh, it's bad, but the OS vendors are patching it"... now give the situation a couple weeks to brew, wait for more data on the CPU impact of these patches and the inevitable lawsuits. Plus, Intel might want to think about delaying the next CPU releases (or introduce a new stepping of existing CPUs) to fix the bugs in hardware... all stuff that ain't cheap.
If the market agreed with you that Intel will suffer greatly in the future due to Meltdown/Spectre the price would have dropped already. Of course you might be correct and the market wrong. You’re short Intel, right?