Is Advanced Micro Devices (NASDAQ:AMD) the Best AI Stock to Buy According to Billionaire David Tepper? [Yahoo! Finance]
Advanced Micro Devices, Inc. (AMD)
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Source: Yahoo! Finance
Billionaire David Tepper stands out amongst American hedge fund managers for his two recent moves: his bet on Chinese stocks despite their volatility and underperformance and his early arrival at the AI party. David Tepper's passion for investing goes all the way back to his high-school days. He once recalled: “I remember my dad had made some small investments in a few companies, so I would track them and see how he was doing.” Tepper bought his first stock when he was in high school — 100 shares of a $2 stock, “but then the whole thing went bankrupt,” he said. “It was a bad investment, but that didn't deter me.” Today, Tepper is worth about $20 billion. He was piling into AI stocks when they were just getting started. This wasn't a fluke or a one-off success from the billionaire. Data from Bloomberg shows that Tepper has posted annualized returns of 28% for investors, before fees. In 2022, when markets were tumbling amid inflation storm and rising interest rates, Appaloosa
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