Intel (INTC -2.1%) is trading lower after Citi and Goldman slash their estimates. Goldman,...

|About: Intel Corporation (INTC)|By:, SA News Editor

Intel (INTC -2.1%) is trading lower after Citi and Goldman slash their estimates. Goldman, reiterating a Sell, thinks Intel's gross margin will probably drop in the coming quarters due to high inventories and declining ASPs. Meanwhile, AMD (AMD +7.4%) is rallying for the second day in a row after announcing plans to sell and lease back its Austin campus, though shares remain down sharply on the year. 27.9% of AMD's float was shorted as of Nov. 15.