(CNET News) Intel slashed the price of Pentium 4 processors for desktops and notebooks over the weekend by up to 53 percent, an annual spring ritual designed to stimulate demand for its premier PC chip. The Santa Clara, Calif.-based chipmaker cut the price of the desktop version of the chip from 12 percent to 43 percent, according to a price list issued by the company. The 2.4GHz version of the chip dropped from $562 to $400, a 29 percent drop, while the 2.26GHz and 2.2GHz versions of the chip fell from $423 to $241, a 43 percent drop. Other Pentium 4s were cut from 12 percent to 32 percent.