Billionaire David Tepper sold "Magnificent Seven" stocks, including Nvidia and Meta, to invest in AI potential companies.
Billionaire investor David Tepper sold Nvidia, Meta Platforms, and other "Magnificent Seven" stocks last quarter, and instead bought into companies with AI potential. Despite the group's impressive 111% average gain in 2023, Tepper, of Appaloosa Management, sought other growth opportunities. The Magnificent Seven's average 22% rise this year is nearly double the S&P 500's 11% increase.
May 19, 2024
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