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David Tepper's Appaloosa cut Micron (MU) stake by 41% in Q2, yet remaining position value doubled to $1.1 billion due to stock surge
Despite selling 690,000 shares of Micron Technology (MU) in Q2, reducing its stake by 41%, the value of Appaloosa's remaining position surged from $562.5 million to $1.1 billion by June 30. This was driven by Micron's stock price soaring 242% during the quarter. Meanwhile, Tepper's fund also increased its holdings in other AI-related stocks, including Amazon (AMZN) by 16%, Taiwan Semiconductor (TSM) by 24%, and Meta Platforms (META) by 55%, while opening put options on Apple (AAPL).
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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