Intel Plans Price Drop

Digitimes says Intel (NASDAQ:INTC) has announced plans to cut prices on its Sandy Bridge processors, with expectations that some Core i3 and i5 parts will drop by 10%-15%. Inventory issues were named as part of the reason for the warning. The move would be helpful in clearing inventory before Intel rolls out its Ivy Bridge chips this spring — and could up the pressure faced by competitor AMD (NYSE:AMD).

Here’s how these semiconductor stocks are trading on the news:

Intel Corporation (NASDAQ:INTC): INTC shares recently traded at $23.98, up $0.3, or 1.27%. They have traded in a 52-week range of $19.16 to $25.78. Volume today was 6,518,300 shares versus a 3-month average volume of 63,217,300 shares. The company’s trailing P/E is 10.39, while trailing earnings are $2.31 per share. Get the most recent company news and stock data here >>

Advanced Micro Devices, Inc. (NYSE:AMD): AMD shares recently traded at $5.28, up $0.2, or 3.94%. They have traded in a 52-week range of $4.31 to $9.58. Volume today was 3,329,124 shares versus a 3-month average volume of 20,485,600 shares. The company’s trailing P/E is 3.75, while trailing earnings are $1.41 per share. Get the most recent company news and stock data here >>