Key facts
- Intel is projected to announce strong second-quarter earnings.
- The company's stock has experienced a 27% decrease in July.
- Intel's shares were among the top performers in the S&P 500 in the first half of the year.
- The recent sell-off in chip stocks is attributed to investors shifting away from this year's winners.
Intel Corp. is poised to announce strong second-quarter earnings after market close on Thursday. However, even a blowout performance is unlikely to counteract the stock's recent downward trend, which has seen a 27% drop in July. This decline places Intel among the worst performers in the S&P 500 for the month, a stark contrast to its substantial 278% surge in the first half of the year, which ranked it third among the index's best performers. The shift in investor sentiment appears to be driven by a broader market trend of selling off this year's top-performing stocks, with a particular focus on chipmakers.