Key Points
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Amazon is investing $200 billion in its cloud computing division, AWS, due to high demand.
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Micron is benefiting from a sustained memory chip shortage, which has driven up pricing and revenue.
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Alphabet’s Google Cloud reported a 63% revenue growth in Q1, boosted by new streamlines.
In its latest portfolio update, billionaire David Tepper’s Appaloosa Management highlighted its top three holdings: Amazon (NASDAQ: AMZN), Micron (NASDAQ: MU), and Alphabet (NASDAQ: GOOGL). Amazon now comprises over 15% of Appaloosa’s portfolio after the fund doubled its stake, primarily due to AWS’s strong revenue growth, marking its best performance in nearly four years.
Appaloosa increased its Micron stake by 11% in Q1, capitalizing on the ongoing memory chip demand that has generated record revenue. Meanwhile, Alphabet experienced a modest decrease in stake but remains a significant investment, with its Google Cloud division showing robust growth driven by new revenue streams. The firms’ investments are indicative of their potential to yield substantial returns in an increasingly data-driven market.
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