David Tepper Exits AMD Investment, Shifts Focus to Two High-Growth Stocks with Massive Market Potential by 2033

Key Points

• David Tepper, billionaire investor and chief of Appaloosa Management, sold his entire stake in Advanced Micro Devices (AMD) during the March 2024 quarter, amounting to 1,630,000 shares.

• He simultaneously increased his holdings in Uber Technologies by 135% (1,840,000 shares) and in Lyft by 1,825% (8,532,382 shares), capitalizing on the projected growth of the global ride-sharing market from $87.7 billion in 2025 to $918.2 billion by 2033.

These transactions took place in a market where Tepper manages over $8 billion in assets across 38 holdings. His exit from AMD could be attributed to profit-taking as the stock increased significantly, amidst concerns over the company’s growth trajectory compared to its AI peers.