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 SAN JOSE, Calif. (AP) - Intel Corp.'s second-quarter profit jumped 44 percent on strong sales of microprocessors, but the company's shares fell amid signs that fierce competition continues to push chip prices lower.
Intel's stock price had risen 29 percent since the start of the year, hitting a new 52-week high of $26.33 before the earnings were released Tuesday. The stock fell nearly 5 percent to $25.05 in after-hours trading.
Cody Acree, senior semiconductor analyst with Stifel, Nicolaus & Co., said some investors may have been expecting too much from the company in the second quarter.
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