Despite the ongoing threat of tariffs, billion-dollar hedge fund Appaloosa Management is betting on Chinese AI picks — at the expense of American tech giants. According to a holdings filing released in early February, the fund had adjusted its holdings to devote about 37% of assets to China-related picks. This buying spree came at a price for names like Lyft (NASDAQ: LYFT) and Amazon.com (NASDAQ: AMZN), which saw massive sell-offs.
What do these portfolio reductions say for American tech giants? Let’s take a look at what analysts are saying about these tech stocks, which Appaloosa Management reduced holdings in the last period.
