Intel seems to be in cut throat competition with AMD. They are trying to compete with every move taken by AMD. This time, its price cuts with Quad core processors.
AMD plans of making their new generation Quad core processors ready by Christmas.
Intel decided to cut the prices before AMDs launch of their new line of processors. Intels price cuts will be targetting mainly Intel’s quad-core desktop and server processors. The price cuts are to be scheduled on July 22.

The following will be affected after 22nd July:-

Intel Core 2 Quad

QX6800-2.93 GHz,8MB, 1066 MHz will be offered at $999
Q6700 -2.66 GHz,8MB, 1066 MHz will be offered at $530
Q6600 -2.40 GHz,8MB, 1066 MHz will be offered at $266

Intel Quad Core Xeon DP

X5365-3.00 GHz, 8MB, 1333 MHz will be offered at $1172
X5355-2.66 GHz, 8MB, 1333 MHz will be offered at $744
E5345-2.33 GHz, 8MB, 1333 MHz will be offered at $455
E5335-2.00 GHz, 8MB, 1333 MHz will be offered at $316
E5320-1.86 GHz, 8MB, 1066 MHz will be offered at $256
E5310-1.60 GHz, 8MB, 1066 MHz will be offered at $209
L5320-1.86 GHz, 8MB, 1066 MHz will be offered at $320
L5310-1.60 GHz, 8MB, 1066 MHz will be offered at $273