One Huge Fund Just Bought Taiwan Semiconductor Manufacturing and Dumped Micron Stock. Which Stock Is the Superior Choice?
These two chip stocks have different businesses entirely.
Overview
Following what hedge funds do is a great way to track the smart money and get a second opinion on what you should do in your own portfolio. Finding successful hedge fund managers that have a track record of long-term investing is smart, because investors only get updates on hedge fund holdings once every quarter, and the information is 45 days old at the time of release.
One interesting move that billionaire David Tepper and Appaloosa Management made during the second quarter was to sell Micron Technology (NASDAQ: MU) stock and buy shares of Taiwan Semiconductor Manufacturing (NYSE: TSM). Both stocks are significant positions in the fund, but was this the right move? Let's take a look.
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Originally published at www.fool.com.