Key Points
- Tepper sold 82% of Appaloosa’s Microsoft position in Q1 2023, amid the company’s worst quarter since 2008.
- Appaloosa’s new investment in Sandisk, now focused on AI memory solutions, is valued at nearly $179 million, making up 3% of the portfolio.
- The global NAND market reached $46 billion in revenue in Q1 2023, with Sandisk holding a 13% market share.
David Tepper, who converted his hedge fund Appaloosa Management into a family office in 2019, sold 82% of his Microsoft shares in the first quarter of 2023, coinciding with a 23% decline in Microsoft’s stock. This significant move highlights Tepper’s strategy as investors remain focused on his investment decisions.
In the same quarter, Tepper invested $179 million in Sandisk, which specializes in NAND flash memory critical for AI applications. The global NAND market saw a revenue surge, doubling to $46 billion from the previous quarter, indicating strong demand amid evolving technology needs.
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