Billionaire David Tepper of Appaloosa Is Selling Nvidia, Amazon, and Meta Platforms, and Absolutely Piling Into a Stock Where the Addressable Market Can 10X by 2033

Core Insights - Appaloosa's billionaire chief, David Tepper, is reducing exposure to major tech stocks in favor of a high-growth stock with double-digit growth potential [6][7] - Tepper's recent selling activity includes significant reductions in positions in Nvidia, Meta Platforms, and Amazon, which may indicate profit-taking or concerns about potential downside risks in the AI sector [8][9][11] - Tepper has made a substantial investment in Lyft, increasing his stake by 1,825% over the past year, indicating confidence in the ride-sharing market's growth potential [15][18] Investment Strategy - Tepper's fund has been actively selling positions in the "Magnificent Seven" tech stocks, including a 3% reduction in Alphabet's Class C shares and purchasing put options on Apple [7][8] - The decision to sell may be influenced by valuation concerns, particularly with Nvidia's high price-to-sales ratio of over 26, which is more than double its peers [11][12] - Lyft's improved key performance indicators, including a 16% increase in total rides and 11% growth in active riders, have made it an attractive investment compared to competitors like Uber [18][20] Market Trends - The global ride-sharing market is projected to grow significantly, with estimates suggesting a rise from $87.7 billion in sales in 2025 to over $918 billion by 2033, reflecting a compound annual growth rate of 21% [17] - Lyft is diversifying its revenue streams through digital advertising, which could enhance its margins and overall profitability [21][22] - Despite Lyft's recent success, concerns remain about its ability to navigate potential economic downturns [22]