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In brief: Intel's Rocket Lake desktop chips only arrived a week ago, yet one of the processors has already seen a slight price reduction. The Core i7-11700K, which was $420, is now down to $405. A more appealing offer might be the previous-gen Core i7-10700K, which has dropped to $317---a fall of almost $100 compared to six months ago.
As you'll no doubt be aware, the Core i7-11700K---and Rocket Lake in general---hasn't set the world on fire, which could explain this part receiving a price cut so soon after launch. However, if you are upgrading from an aging processor and want the latest Intel has to offer, you do get a good gaming chip that comes with PCIe 4.0 support for $405.
What's likely to be of more interest to Intel fans is the Intel Core i7-10700K. The 10th-gen processor was a joint 'Best Gaming CPU' winner in our Best CPUs feature. With 8 cores/16 threads, a 125 TDP, and able to hit 5.1 GHz, it can offer similar performance to the Core i9-9900K for less.
Our price tracker has the Core i7-10700K's previous highest Amazon price as $406 back in November. It's now available for just $317. And if you're able to do an in-store pickup, Micro Center has it for an even lower $270.
That's an excellent deal for what is still one of the best chips out there for gaming---check out our 'seven game average at 1440p' chart above (using an RTX 2080 Ti). It also boasts an Amazon user score of 9.8.