Q3 Return: -5%
YTD Return: +15%
Investor: Jeff Reeves
InvestorPlace Editor Jeff Reeves’ not-so-sexy pick of tech staple Intel (INTC) was looking brilliant halfway through the contest. Now, I would downgrade the dividend stock to decent.
Intel sat in first place at the end of June, but has fallen from its perch. One reason: Intel posted a drop in sales and earnings for its second quarter, and lowered its full-year revenue forecast. In fact, it’s missed analyst estimates for earnings in each of the past two quarters.
Another bad sign for the chip-maker came last week when INTC failed to improve its dividend for only the second time since 2008. As retirement writer Marc Bastow pointed out:
“That might not sound too disastrous, but for a company that’s essentially flat against its 2010 highs and has become mostly just a pure income play, it sure doesn’t feel right.”
And it sure won’t be good enough for INTC to make a run back to the top spot by contest’s end.