Snapchat, 13F's & an overlooked US giant

With no Paul this week, the Steve’s have a hell of a lot to get through. Stock updates, 13Fs, and an earnings report from Steve D to keep an eye on.

We’re kicking off this week with an update on our 5 stock samplers from last July. As we approach the year mark, it’s time for an update. We’ve had some interesting results so far to say the least. One of us has a stock that’s been holding up well against the general stock declines. And one of us has a stock that’s been delisted. What’s going on? Find out first up.

Next it’s the news that’s been driving the markets this week. Snap announced that the macroeconomic environment is likely to cause it to miss its earnings forecasts in Q2. The news sent shockwaves through PlayingFTSE favourites Alphabet, Meta, and Pinterest. But the Steves have been looking at this and think they have some interesting ideas about marketing budgets and the difference between brand marketing and performance marketing.

As surely as night follows day, earnings season is followed by 13F reporting. That means that the Steves can check in with their favourite investors. Warren Buffett has been adding to his huge Apple stake while Michael Burry is short the stock. Burry has been holding onto Bristol-Myers Squibb, though, while Buffett has been selling out. And the Steves have some thoughts on Stan Druckenmiller, who seems to have been hiding out in commodities lately…

Lastly, we’re going to have a look at Intuit. The software company is bigger than you might think — market cap of around $120bn — and has reported earnings recently (earnings season not quite over) and Steve D’s been having a look. The business is growing at a rapid rate, but the stock is down around 31% since the start of the year. But at 10x sales, is there an opportunity here for an investor?