Appaloosa Rebuilds Memory Bets After Q2 Cuts as Micron Slides 16% Since July

1 articles · Updated · CNBC · Aug 14

Appaloosa bought a bigger position in memory stocks after quarter-end than it sold in Q2, a person familiar with the matter said, using the sector’s recent slump to add exposure.
Q2 filings show David Tepper had cut Micron by more than 41% and exited a Sandisk stake worth over $400 million, moves that preceded a broader memory pullback.
Micron has fallen nearly 16% since early July and Sandisk is down about 28% in the third quarter, though both remain sharply higher for 2026 after huge second-quarter rallies.
At the same time, Appaloosa leaned harder into megacap tech—raising Amazon more than 15% to nearly $1.2 billion, boosting Meta 55%, adding to Alphabet and starting a $241 million Apple stake.
Outside tech, the hedge fund also opened Boeing and American Airlines positions, showing Tepper was rotating capital across sectors rather than simply cutting risk.