Billionaire Stanley Druckenmiller Sells Nvidia Stock and Buys Another Stock-Split AI Stock. Does He Know Something Wall Street Doesn't?

Nvidia (NASDAQ: NVDA) has led the artificial intelligence (AI) boom that began with the launch of ChatGPT in November 2022. Its share price has advanced 895% since then, and Wall Street is still very bullish. Currently, 92% of the 62 analysts who follow Nvidia rate the stock a buy, and the median target price of $175 per share implies 30% upside from the current share price of $134.However, billionaire Stanley Druckenmiller -- a former hedge fund manager famous for achieving an annual return of 30% over a 30-year period -- sold his entire stake in Nvidia in the third quarter. At the same time, he started a new position in Broadcom (NASDAQ: AVGO), another chipmaker that recently conducted a 10-for-1 stock split on the heels of tremendous share-price appreciation.Interestingly, Druckenmiller had 14% of his portfolio in Nvidia just one year ago, which made it the largest holding at the time. Today, Druckenmiller no longer has any exposure to Nvidia, but Broadcom ranks among his top 15 holdings. Does he know something Wall Street doesn't?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool