Tepper Cuts 82% of Microsoft Stake, Adds $179M Sandisk AI Bet

On June 8, 2026, filings revealed billionaire David Tepper’s Appaloosa Management sold 82% of its Microsoft position in Q1 after the stock plunged 23% in its worst quarter since 2008. The moves reflect investor concerns over AI valuations, capital spending, and software competition. Tepper rotated into a new Sandisk stake valued at nearly $179 million, or 3% of the portfolio, betting on AI memory demand as the memory chipmaker surged over 4,100% in the past year. The shift highlights a move from hyperscalers toward AI infrastructure suppliers, though analysts caution memory stocks remain highly cyclical.