David Tepper’s Appaloosa Management sold memory chip makers and increased positions in megacap technology stocks during the second quarter. The fund expanded its Amazon stake by over 15% to nearly $1.2 billion, while Meta Platforms surged by nearly 55% to around $380 million, and a new Apple position worth over $241 million was created. Meanwhile, the Micron Technology stake was cut by over 41% to approximately $1.125 billion, and the fund completely exited a position of more than $400 million in Sandisk. Micron shares skyrocketed over 240% in the second quarter before pulling back nearly 16% since early July, though analysts on average forecast roughly 51% upside over the next twelve months.
Source: Read the original article
