Wealthy entrepreneur Ken Fisher purchases vast quantities of Nvidia stock, subsequently offloads them to competitors.
In a move that has caught the attention of investors, Ken Fisher, the billionaire founder of Fisher Investments, has significantly increased his holdings in tech giants such as Microsoft, Apple, Alphabet, and Amazon, while selling a substantial number of shares of AMD.
Fisher, who first invested in Nvidia in the fourth quarter of 2017, recently bought over two million shares of the AI giant, making Nvidia the third-largest position in his portfolio. This move comes as no surprise, as Fisher seems to be convinced of the potential of Nvidia's stock and believes it is likely to rise.
However, Fisher also sold almost six million shares of AMD, a move that has sparked speculation about his stance on the company. Despite reducing his position in AMD by nearly 20% in the second quarter, Fisher does not seem to see AMD as a significant threat to Nvidia at the moment.
The AI chip market has been heating up, with Nvidia's competitor, Broadcom, increasingly challenging Nvidia. Citi analysts have highlighted Broadcom's custom AI chips (XPUs) and significant deals as factors contributing to this challenge. Fisher's decision to reduce his position in Nvidia's rival could be a response to this growing competition.
It is worth noting that Fisher is required to disclose his portfolio holdings to the U.S. Securities and Exchange Commission (SEC) quarterly. This means that his investments and sales are subject to public scrutiny.
The recent market turbulence has emphasised the importance of being more selective in stock selection. While Fisher's strong sales of AMD shares may suggest caution, it does not necessarily mean that he is not convinced of AMD as an investment. In fact, as of the second quarter, AMD takes the ninth-largest position in Fisher's portfolio.
Interestingly, other billionaires have also reduced their positions in Nvidia shares in the second quarter. Whether this is a response to the same market trends or other factors remains unclear.
The article does not provide information on why Fisher sold AMD shares or why he is not concerned about AMD as a competitor. It also does not provide information on why Ken Fisher bought Nvidia or sold shares of a competitor.
Despite these uncertainties, Fisher's moves in the tech market continue to be closely watched by investors, offering insights into the broader trends and strategies shaping the industry.
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