Shares of chipmakers were weaker today, with

Intel

(INTC) - Get Report

leading the pack.

Intel was recently off $4.06, or 9.8%, to $37.38 in

Nasdaq

trading.

Morgan Stanley Dean Witter

cut its rating on Intel to neutral from outperform, citing weak PC demand.

Shares of computer makers were

also lower, a day after

Dell

(DELL) - Get Report

lowered the company's revenue growth

guidance to 20% for fiscal 2002.

In

New York Stock Exchange

activity,

Advanced Micro Devices

(AMD) - Get Report

was trading down 75 cents, or 3.6%, to $20.25.

Texas Instruments

(TXN) - Get Report

was recently down $2.88, or 6.9%, to $39.

Micron Technology

(MU) - Get Report

was weaker by 6.7%, down $2.19 to $30.38.

National Semiconductor

(NSM)

lost 5.4%, or $1.19, to $20.69.

Meanwhile,

QLogic

(QLGC)

lost $7, or 6%, to $108.

Altera

(ALTR) - Get Report

fell $1.94, or 6.7%, to $27.06,

Rambus

(RMBS) - Get Report

fell $4.75, or 7.1%, to $61.88 and

Novellus Systems

(NVLS)

was weaker by 8.5%, down $2.75 to $29.69.