MU - Billionaire Paul Tudor Jones Just Made a Once-in-a-Generation Bet on This Stock. Time to Buy?
2024-06-25 07:30:00 ET
Paul Tudor Jones is a billionaire investor, probably most famous for shorting the market before the 1987 stock market crash. In recent years, he traded more conservatively, but he remains an active investor.
In his 13-F for the first quarter of 2024, Jones's Tudor Investment Corp. revealed it had opened a position in memory chipmaker Micron Technology (NASDAQ: MU) . Over most of its history, Micron has become better known for its volatility but has begun to gain traction in recent years. The question for active investors is whether they should follow Jones into this stock.
Micron is likely a "once in a generation" bet because it took about a generation to return to record highs. The memory chip business is the most volatile part of the semiconductor industry. After posting gains in the 2000 dot-com bubble, Micron technology stock struggled as down cycles in the semiconductor industry wiped out all stock market gains in that industry between the mid-1990s and mid-2010s.
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Billionaire Paul Tudor Jones Just Made a Once-in-a-Generation Bet on This Stock. Time to Buy?