Investors are closely monitoring David Tepper’s Appaloosa Management, which recently filed its Q1 2024 13F report with the SEC. The report indicates that Appaloosa has completely exited its position in Advanced Micro Devices (AMD), selling off its last 1.2 million shares from the previous quarter, while simultaneously initiating a new position in Broadcom (NASDAQ: AVGO).
Broadcom’s acquisition is seen as a strategic move due to its diversified business model and significant involvement in AI data center infrastructure. The company recently announced a $10 billion share repurchase program, signaling confidence in future growth prospects. In contrast, AMD has been struggling with decelerating core businesses and competition from Nvidia in the data center chip market.
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