Billionaire Philippe Laffont Sold Millions of Shares of Nvidia and Meta Platforms and Is Piling Into 4 Other "Magnificent Seven" Stocks Instead

The advent of artificial intelligence (AI) is having a profound impact on the technology landscape. Nowhere is that more apparent than the stunning rise of the "Magnificent Seven" stocks, a collection known for its strong ties to the technology. Since the dawn of AI early last year, each of these tech titans has outpaced the performance of the S&P 500, some by a wide margin. Billionaire investors have taken notice, and many hold positions in the Magnificent Seven stocks. But like all investors, they have different goals and take different paths to achieve them.Among these closely watched billionaires is Philippe Laffont, who made a name for himself by building Coatue Management into the world's best-known tech-centric hedge fund, parlaying a $50 million investment in 1999 into $27 billion in assets under management.Laffont's focus on the paradigm shifts in technology and the resulting secular tailwinds have served him well. "You don't need a thousand big ideas to do well in our business, you just need the one or two key ideas that then all the dominoes start falling from," said Laffont in an interview with the Financial Times.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool