David Tepper’s Appaloosa Management Sold These 5 Stocks Before Entering 2022

4. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of hedge fund holders: 75

Tepper’s hedge fund also closed out its stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the December quarter after holding a position for the past four quarters. QUALCOMM is a semiconductor company and its shares remained under pressure in 2021 due to supply chain dynamics. The San Diego-based chipmaker reported first-quarter earnings per share of $3.23 on $10.7 billion in revenue. Despite strong first-quarter results, some market analysts are showing concerns over seasonal decline for the core chipset business in the second quarter. 

As of December, 75 hedge funds were bullish about the company compared to 70 in the previous quarter. Alkeon Capital Management and Matrix Capital Management were among the leading stakeholders in the company.