David Tepper Shifts Investment Strategy
Billionaire investor David Tepper, who previously managed Appaloosa Management for over 25 years, has transitioned the firm into a family office since 2019. In the second quarter of 2023, he sold his nearly $179 million stake in Sandisk, a NAND flash memory maker, which showcased remarkable performance in the memory sector amid constraints in supply.
Appaloosa has initiated a new position in Space Exploration Technologies Corp. (NASDAQ: SPCX), investing approximately $38.5 million to acquire 225,000 shares. Amid speculation that SpaceX could be valued as high as $10 trillion, analyst Brian Gesuale from Raymond James has issued a strong buy rating with an $800 price target, suggesting the company’s innovative potential in space travel could revolutionize the industry.
Sandisk currently holds around 13% of the global market share for NAND memory as of early 2026. Tepper’s moves reflect a cautionary approach to the memory market, given the cyclical nature of the industry and potential long-term changes driven by the AI supercycle.
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