Arm has dropped more than 3% on talk of a new competitive threat to the chipmaker from US rival Intel. According to George O'Connor at Panmure Gordon, Intel may announce a new low power processor later today, an area where Arm leads the way. He said: The concern is that Intel takes share from Arm (this displaces the rumour that Intel will simply buy Arm). This is an easy scare mongering story to run with – but clearly Intel would need to unseat the product builders and the Arm ecosystem- so even with the processor there would still be much to do. Generally Intel (and pretty much everyone else in the world) sees the computing moving off the Windows plus Intel proposition and at some stage it has to follow the trend. So expect more weakness as [momentum] investors come out of the stock. At the moment Arm is 19p lower at 583p. But another technology stock, accountancy software specialist Sage, is heading in the opposite direction.