Over 140 Ivy Bridge-based Ultrabooks are in the pipeline, according to Otellini, and more than 40 of those will be touch-enabled, with convertible, swiveling-screens to be found in a dozen. These will bring the tapping and swiping experience found on tablets to laptop users.

Intel also affirmed that $699 Ultrabooks will retail in the fall, although we've already seen Ultrabooks announced for even less--.

Wedbush analyst Betsy Van Hees that Intel's guidance offers "some hope that the PC market isn't going to fall off a cliff" in the second half of this year.

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