Billionaire David Tepper Sold His Fund's Sandisk Stake in Favor of This Trillion-Dollar Artificial Intelligence (AI) Chip Stock
The fund manager recently booked gains in Sandisk stock and redeployed capital into Broadcom.
Overview
As founder of the hedge fund company Appaloosa Management, David Tepper has built a reputation for bold, often contrarian bets -- particularly in distressed assets. Investors monitor his moves closely because his track record includes legendary gains even during the toughest economic cycles.
New 13F filings reveal that during the second quarter, Appaloosa sold its entire position in Sandisk (NASDAQ: SNDK) while initiating a new stake in Broadcom (NASDAQ: AVGO). These moves offer a window into how Tepper is navigating the current chapter of the artificial intelligence (AI) revolution.
Image source: The Motley Fool.
Details
Source
Originally published at www.fool.com.
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