Appaloosa 13-F: Raises MU, GOOG, META; Cuts BABA; Exits KEY
Newsquawk Staff ·
- New: Ball Corporation (BALL).
- Raises: Micron (MU), Alphabet (GOOG), Meta (META), American Air (AAL), Owens Corning (OC).
- Cuts: Alibaba (BABA), Whirlpool (WHR), JD.com (JD), Vistra (VST)
- Exits: Fiserv (FISV), Truist Financial (TFC), Caesars Entertainment (CZR), KeyCorp (KEY), Citizens Financial (CFG).
- Top: Alibaba (BABA), Alphabet (GOOGL), Amazon (AMZN), Micron (MU), Meta (META).
What it means
Appaloosa's latest 13-F filing reflects a bullish stance on Semiconductors and digital advertising, raising positions in Micron, Alphabet, and Meta, which may signal confidence in tech sector recovery. The cut to Alibaba and exit from regional banks like KeyCorp suggest concerns over growth prospects in China and regional financial stability, potentially mapping a cautious outlook amidst broader economic uncertainties.
- Meta (META) AI director Rohit Patel leaves to take on Microsoft (MSFT) Office and Google (GOOGL) Workspace, reports TechCrunch
- Meta's (META) USD 25bln stock offering ended five-times oversubscribed, Bloomberg reports
- US EQUITY OPEN: Indices in the green as Tech sector outperforms as earnings continue
- AMD (AMD) and Meta (META) collaborate across CPUs, GPUs, networking, systems and software to power Meta services and AI infrastructure; AMD will invest USD 1bln in Meta's equity offering
- US PRE-MARKET MOVERS: CDNS, GLW, SOFI, NVDA/META, PYPL, SPGI, WHR, RCL, SHW, UPS, JCI, BA, AVGO, MRNA
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