Current Standing: Third
YTD Return: +15%
Investor: Jeff Reeves
First up, we have the pick that was sitting pretty in first place just a month ago. Intel (INTC) — chosen by InvestorPlace Editor Jeff Reeves — had a 20% total return in its pocket at the end of Q2, but that, along with its standing, has been dwindled down in the past month.
To figure out why, all you have to do is glance at this to-the-point Quartz headline, courtesy of Matt Phillips:
Intel released second-quarter earnings after the bell July 17 that showed a nearly 30% decline in profits on a 5% slide in revenue. On the earnings call, CFO Stacy Smith also warned that the overall PC market was weaker than they originally thought.
The stock shed around 4% of its value on July 18 as a result and continued to slide afterwards. Overall, second-quarter struggles sliced around 5% off Intel’s total return from the start of July to the end.
The good news: Intel has now renewed its focus on cost-cutting, which could help bulk up its bottom line. The bad news: For this contest, the clock is ticking.