When you're Intel and you make $1.6 billion in a quarter, what do you do to celebrate? You lower prices! Intel announced today that prices of its popular Pentium II microprocessor will be halved on August 1st. Intel is planning to move to an all-Pentium II product line for consumer machines by mid-1998 and use the Pentium II 266 as the entry level model. A new CPU, code-named Deschutes, is due in 1998. Deschutes will debut at 400MHz with a 100MHz bus speed.

Intel was also responsible for a major stock rally today, as the NASDAQ finished up 25.17 and the Dow Jones Industrial Average jumped 31.12. Intel's was the most active stock on NASDAQ, with 26 million shares trading hands.

Investors are excited about tech stocks again with Intel posting impressive results yesterday and Microsoft's quarterly results, due tomorrow, expected to gain even more than Intel