Billionaire David Tepper Sells Oracle, Micron, and Intel, and Buys an AI Stock Up 31,000% Since Its IPO

Billionaire David Tepper loves a good turnaround story. He made his fortune as a master of investing in distressed debt through his hedge fund, Appaloosa Management. The value-focused contrarian approach Tepper takes with his investments has continued to serve him well as he expanded it to equities.True to form, the fund's most recent 13F filing with the SEC showed significant sales of stocks that have seen their share prices soar. These stocks, which have largely capitalized on the artificial intelligence (AI) trend, include Micron Technology (NASDAQ: MU), Oracle (NYSE: ORCL), and Intel (NASDAQ: INTC).With the profits, Tepper reinvested in another AI stock that hasn't quite taken off yet, but that could become a key supplier of AI chips across various form factors over the next few years. While its stock is up 31,000% from its initial public offering (IPO) in the early '90s, it's traded sideways for the last two years. Here's what may have pushed Tepper to make the shift in his portfolio.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool