Key Points
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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.
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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.
