Peter Thiel Sells Nvidia, Buys Apple
Peter Thiel’s hedge fund, Thiel Macro, sold 537,742 shares of Nvidia, completely exiting its position during the third quarter of 2023. This move coincided with the fund initiating a position in Apple, which has struggled to match growth rates seen in Nvidia during the ongoing AI revolution.
Nvidia’s market capitalization skyrocketed from $345 billion at the end of November 2022, reaching around $4.6 trillion, making it the world’s most valuable company. Meanwhile, Apple’s valuation remains lower at a forward price-to-earnings ratio of approximately 32, compared to Nvidia’s 24. Despite Nvidia’s robust earnings, concerns over increased competition and market volatility may be influencing Thiel’s strategy to reposition funds into a more stable asset like Apple.
