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LivestreamMenuDavid Tepper’s Appaloosa Management bet big on megacap technology stocks in the second quarter, while selling off former high-flying memory chip makers. Appaloosa expanded its stake in Amazon by more than 15%, lifting it to a value of nearly $1.2 billion, according to regulatory filings released Friday. Amazon remained the hedge fund’s largest holding, according to InsiderScore. Tepper’s purchases of Magnificent Seven stocks didn’t stop there. The Meta Platforms position widened by almost 55%, to about $380 million. The Carolina Panthers owner added nearly 7% to his Alphabet holding, bringing the stake’s value to more than $661 million. Tepper also created a position of more than $241 million in Apple in the latest quarter. But Tepper cut his position in Micron Technology by more than 41%, even as Micron remained his second-largest position at around $1.125 billion. The pullback in some of Tepper’s holding is notable given that he has closely positioned around the artificial intelligence rally. He appeared to get ahead of the July drawdown in memory stocks. Micron shares skyrocketed more than 240% in the second quarter — its largest quarterly gain ever — as investors focused on AI-related hardware needs. But shares have pulled back nearly 16% since the start of July, part of a broader downturn in the memory chip space. MU YTD mountain Micron in 2026 Wall Street doesn’t see the slide lasting for long. The average analyst has a buy rating on Micron and estimates nearly 51% upside over the next year, according to LSEG. Even with the recent volatility, shares are still up 240% in 2026. Tepper also zeroed out a stake worth more than $400 million in Sandisk . Shares of the memory stock have tumbled nearly 28% in the third quarter after soaring about 258% in the March-June period. Outside of tech, the University of Pittsburgh and Carnegie Mellon alum created positions in Boeing and American Airlines worth about $173 million and $136 million, respectively. He sold off stakes in Corning , L3Harris and RTX .Read More
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