Billionaire Investor Stanley Druckenmiller Sold Broadcom, Intel, and Micron and Bought Another Chip Stock That Expects to Double Data Center Sales in 2027
The famous investor dumped three top chip stocks and bought another one with a clear near-term catalyst.
Overview
Stanley Druckenmiller's Duquesne Family Office reported about $5.2 billion in U.S. equity holdings at the end of the second quarter. But its relatively small positions in Intel, Micron, and Broadcom -- all initially purchased in the first quarter -- were gone by the end of the quarter on June 30.
Instead, the legendary investor, with a multi-decade record of beating the market, opened a new position in Advanced Micro Devices (NASDAQ: AMD). While Druckenmiller is not as heavily invested in artificial intelligence stocks as he was a few years ago, he appears to remain bullish on the impact this technology could have on the economy and continues to make selective bets.
Stanley Druckenmiller. Image source: Getty Images.
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Originally published at www.fool.com.