Billionaire Stanley Druckenmiller Kicked Micron to the Curb in the Second Quarter in Favor of an AI Superstar That's Gained 13,700% Since Its IPO
Key PointsQuarterly-filed Form 13Fs provide investors with a concise snapshot of the stocks that Wall Street's smartest money managers are buying and selling.
Billionaire money manager Stanley Druckenmiller made a significant shift in his investments during the second quarter, according to a recent 13F filing. The Duquesne Family Office, led by Druckenmiller, sold off its stake in artificial intelligence (AI) stock Micron Technology (NASDAQ: MU) and instead invested heavily in AI superstar Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG).
The filing shows that Druckenmiller's fund kicked Micron Technology to the curb, opting to focus on Alphabet, which has seen an extraordinary 13,700% increase since its initial public offering (IPO) in August 2004. Druckenmiller, known for his knack for spotting amazing deals and selling at the right time, is one of Wall Street's most closely watched billionaire managers.
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