Billionaire Steven Cohen Sells Apple Stock and Buys a Little-Known AI Stock Up 500% in Less Than 3 Years | The Motley Fool

Steven Cohen runs Point72 Asset Management, a hedge fund that has earned $38 billion in profits since its inception in 1992. That makes him the 12th-most successful hedge fund manager in history, according to LCH Investments.

In the third quarter, Cohen sold his entire stake in Apple (AAPL -0.39%), formerly his second-largest holding excluding options. He also started a small position in Axon Enterprise (AXON -0.50%), an artificial…