Billionaire Steven Cohen Sells Apple Stock and Buys a Little-Known AI Stock Up 500% in Less Than 3 Years
Steven Cohen runs Point72 Asset Management, a hedge fund that has earned $38 billion in profits since its inception in 1992. In the third quarter, Cohen sold his entire stake in Apple (NASDAQ: AAPL), formerly his second-largest holding excluding options. The new position is relatively small, but it still means Cohen was more comfortable owning Axon than Apple.