Intel Slips 10.6% on Downgrade

Semiconductor bellwether Intel (INTC) - Get Report was down 10.6% in preopen Island trading. CNBC reported that Morgan Stanley Dean Witter downgraded the stock.

Other chip stocks were also lower in the preopen.

Rambus

(RMBS) - Get Report

was off 6.8% and

Applied Micro Circuit

(AMCC)

was down 5%.