In a year where tech stocks and artificial intelligence (AI) is leading Wall Street, billionaire investor David Tepper is making a bet on a household name.
In the third quarter, Tepper’s Appaloosa Management sold off 8 million shares of Intel (INTC), which is up 73% year-to-date (YTD), driven by improved earnings and a substantial $5 billion investment from Nvidia (NVDA). And it used some of that money to scoop up 5.2 million shares of the sagging home appliance company Whirlpool (WHR), which is down 73% from its all-time high.
