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Updated from 7:08 a.m. EST
Intel's(INTC Quote) profit plunged 39% in the fourth quarter, as the company signaled that its bottom line would continue to be pressured by a price war with rival Advanced Micro Devices(AMD Quote).
That concern offset any upside from the chipmaker beating Wall Street's lackluster fourth-quarter expectations. Shares of Intel fell $1.03, or 4.6%, to $21.27 in early trading Wednesday.
On a post-earnings conference call, CEO Paul Otellini said "2006 was a challenging year and our response was to drive for product and technology leadership aligned with the fast growing segments of the marketplace." ...
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