Appaloosa Cuts Micron, Exits SanDisk in Q2, Loads Up on Mag7
Nashnova编辑部
David Tepper's Appaloosa piled into Amazon, Meta, and other Mag 7 names in Q2 while slashing Micron by over 41% and dumping Sandisk entirely — a rotation that landed just ahead of the July storage-stock pullback, signaling a shift from AI hardware to platform plays.
How much Mag 7 did Tepper add?
Amazon holdings grew over 15%, reaching nearly $1.2 billion — still the fund's largest position.
Meta jumped roughly 55% to about $380 million; Alphabet rose nearly 7% to over $661 million.
Apple was a brand-new position at over $241 million. This means → Tepper isn't just topping up existing bets; he's pulling the entire Mag 7 roster into the portfolio.
Why cut the storage names?
Micron was trimmed by over 41%, yet it still sits at roughly $1.125 billion as the fund's second-largest holding. In plain terms = even after a four-tenths haircut, Micron remains huge — which tells you how oversized the position was before.
The bigger move: a full exit from Sandisk — a stake worth over $400 million last quarter, now zero.
Micron surged more than 240% in Q2, its largest single-quarter gain ever; but it has since fallen nearly 16% from early July, while Sandisk dropped close to 28%. This means → Tepper's trim landed right before the July correction — a classic "lock in gains near the top" move.
What changed outside tech?
New positions in Boeing (~$173 million) and American Airlines (~$136 million) — both bets on an aviation recovery.
Full exits from Corning, L3Harris, and RTX, all industrial / defense names.
This reflects a structural rotation beyond tech as well: out of defense-industrial, into airline operators.
What does Wall Street think about Micron?
LSEG data shows the average analyst rating on Micron is still Buy, with a 12-month target implying roughly 51% upside.
Tepper's actions send a different signal: within the AI trade, he is shifting weight from storage hardware to platform-scale tech giants.
In plain terms = Wall Street is bullish on Micron long-term, but Tepper voted with real dollars — he thinks the next leg of the AI rally will be led not by the companies making memory chips, but by those building platforms on top of them. Whether this call marks a cyclical peak for storage remains to be confirmed by future filings.
Content is for reference only, not financial advice.