Intel ( INTC), in the face of stiff competition from Apple's ( AAPL) iPad, announced that it is putting its faith in a new breed of light, super-skinny laptops, dubbed Ultrabooks, this week. Intel outlined its plans to build low-power chips for Ultrabooks at the Computex show in Taiwan on Monday, boldly predicting that the devices will account for 40% of the consumer laptop market by the end of 2012. The tech bellwether says that Ultrabooks will combine notebook and tablet features within a "thin, elegant" form factor that's less than 20 millimeters (0.8 inch) thick. Based on the second generation of its Core processors, Intel says that the first of the ultra-thin notebooks will be available in time for the 2011 holiday season. These will include Asus' UX21 Ultrabook, which was showcased at Computex. Intel's stock closed down 35 cents, or 1.61%, at $21.73 on Friday.