Druckenmiller Sells Micron and Intel for a Chip Stock Set to Surge

Druckenmiller sells Micron, and he also lets go of Intel and Broadcom, closing out all three positions by the end of the second quarter. Right now, that money is sitting in a new position, and the decision to buy AMD stock instead is worth noting, especially since Druckenmiller sells Micron even as Duquesne Family Office’s latest 13F filing shows the investor stepping away from three chip stocks that had already run hard, moving into a name with a near term catalyst attached, AMD’s upcoming Helios launch.

Also Read: Micron Stock Forecast: Is It Too Late to Buy MU After a 981% Surge?

Druckenmiller Sells Micron as AMD Stock Gains New Momentum

Duquesne reported about $5.2 billion in U.S. equity holdings by quarter end, and it had fully exited the small stakes it built in Intel, Micron, and Broadcom during the first quarter by June 30. A new Stanley Druckenmiller AMD position took their place, worth roughly 0.8% of reported assets, still fairly small in the grand scheme of the fund but notable given the timing. The choice to buy AMD stock comes at a moment when Micron stock has already more than doubled this year, and Druckenmiller sells Micron anyway, which says something about how he views the trade at the time of writing.

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