Intel Cuts Chip Prices by as Much as 53%

Intel Corp. cut prices on some of its microprocessors by as much as 53% over the weekend.

The world’s largest chip maker regularly cuts prices throughout the year as its production costs drop and demand shifts.

But the company said this round of price cuts--on both high- and low-end chips--is a direct result of the billions of dollars it has spent on upgrading chip factories.

Shares of Santa Clara, Calif.-based Intel fell 31 cents to $28.35 on Nasdaq.