Tepper’s Appaloosa hedge fund trimmed its positions in Alphabet and Amazon in Q3, but loaded up on Qualcomm. Wall Street analysts are divided on Qualcomm, but its valuation and growth prospects look promising. Tepper’s moves may indicate unique insights. Wall Street favors Alphabet and Amazon, with potential upside for Amazon at 26%. Tepper’s contrarian approach raises questions about his strategy. He significantly increased Appaloosa’s stake in Qualcomm, a leading AI stock poised for growth in edge AI technologies. Qualcomm plans to compete in the AI accelerator market for data centers. Wall Street’s opinions on Qualcomm are mixed, with some analysts bullish on the stock. Tepper’s actions may hint at untapped potential in these tech giants. Wall Street’s bullish outlook on Alphabet and Amazon contrasts Tepper’s divestment in Q3. Despite selling shares, Appaloosa still holds substantial positions in both stocks. Tepper’s bullish stance on Qualcomm, with its attractive valuation and growth opportunities, sets him apart from the consensus on Wall Street. The Motley Fool’s Stock Advisor team did not include Qualcomm in their top 10 stock picks, highlighting other investment opportunities with potential for significant returns. Consider joining Stock Advisor for access to their latest recommendations and market-beating performance. Keith Speights has positions in Alphabet and Amazon, while The Motley Fool has positions in and recommends Advanced Micro Devices, Alphabet, Amazon, Nvidia, Qualcomm, and S&P Global.

Read more at Nasdaq: Does Billionaire David Tepper Know Something Wall Street Doesn’t? He’s Selling Alphabet and Amazon and Piling Into This AI Stock Instead.