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Morgan Stanley Dean Witter downgraded Intel (INTC) - Get Intel Corporation Report this morning to neutral from outperform.

The firm also cut Intel's 2000 earnings to $1.68 from $1.70; 2001 earnings to $1.65 from $1.75. The tech giant, which manufactures chips for PC makers like


(DELL) - Get Dell Technologies Inc. Class C Report

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, was losing ground in preopen trading, down $4.38 to $37, a 10% loss.