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Billionaire Ray Dalio is Selling These 4 Tech Stocks in 2024

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In this article we will take a look at 4 important tech stocks billionaire Ray Dalio’s Bridgewater Associates dumped in the first quarter of 2024.

Ray Dalio’s Bridgewater Associates’ new management has been making big changes to cut costs and tighten its belt following lackluster returns over the past few years. However, the fund, on an overall basis, increased its exposure to technology stocks. Insider Monkey’s analysis shows that tech accounted for about 17% of Bridgewater’s Q1’2024 portfolio, up from just 7% in the previous quarter. The portfolio’s total worth stood at about $19.8 billion.

Ray Dalio’s fund increased its holdings in major tech names like Nvidia (+163%), Apple (+166010%) and Alphabet (+163%).

However, in this article our focus remains on the stocks the fund sold off in the March quarter.

4. SunPower Corporation (NYSE:SPWR)

Number of Hedge Fund Holders: 14

SunPower Corporation (NYSE:SPWR) makes photovoltaic solar energy generation systems and battery energy storage products. Over the past one year, SunPower Corporation (NYSE:SPWR) has lost about 71% in value, and perhaps that’s why Ray Dalio’s hedge fund gave up on the stock, selling 41,337 shares in the company, and exiting its position completely.

3. Sensata Technologies Holding plc (NYSE:ST)

Number of Hedge Fund Holders: 35

Sensors company Sensata Technologies Holding plc (NYSE:ST) has gained about 15% so far this year. Ray Dalio’s hedge fund dumped all 115,865 shares of Sensata Technologies Holding plc (NYSE:ST) in the first quarter.

As of the end of the March quarter, the biggest stakeholder of Sensata Technologies Holding plc (NYSE:ST) was Israel Englander’s Millennium Management which owns a $100 million stake in the company.

Diamond Hill Capital mentioned Sensata Technologies Holding plc (NYSE:ST) in its Q4 2023 investor letter. Here is what the firm has to say:

“Among our bottom contributors in Q4 were Sensata Technologies Holding plc (NYSE:ST) and BorgWarner. Sensata Technologies, an electronics component manufacturer, was pressured by United Auto Workers (UAW) strikes during the quarter, which weighed on its near-term guidance. Further, the company’s management team has executed poorly recently. However, we maintain our conviction in the long-term outlook for Sensata, which should benefit from increased use of sensors and controls in new cars.”

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The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

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