Intel

(INTC) - Get Report

was down 0.9% in late morning as chip stocks failed to rally after slumping Thursday on fears of lower demand for PCs. The

Semiconductor Index

(SOX)

was down 2.9%.

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Micron Technology

(MU) - Get Report

was down 1.2% and

Texas Instruments

(TXN) - Get Report

was down 4%.