Cathie Wood Dumps AMD, Loads Up on Nvidia and Broadcom Before Key Earnings

TLDR

• ARK Invest sold 156,286 AMD shares worth $74.5 million on August 28
• ARK bought 243,707 Nvidia shares worth around $53-55.6 million after its earnings pullback
• ARK also picked up 55,131 Broadcom shares worth $20.5 million ahead of its September 3 earnings
• Nvidia posted Q2 revenue of $96.2 billion, up 106% year over year, with Q3 guidance of $108 billion
• The Ark Innovation ETF has seen $2.09 billion in net outflows over the past 12 months

Cathie Wood’s ARK Invest made a major portfolio shift on August 28, selling $74.5 million worth of Advanced Micro Devices stock while buying into Nvidia and Broadcom.

ARK sold 156,286 AMD shares across multiple ETFs. This followed another AMD sale the day before, when the fund offloaded around 37,977 shares worth about $18.26 million. AMD shares are still up 117.4% year to date.

Advanced Micro Devices, Inc., AMD

ARK Loads Up on Nvidia After Earnings Dip

ARK bought 243,707 Nvidia shares, worth around $53 million based on the August 28 closing price of $217.55. The purchase came a day after Nvidia surged nearly 9% on strong earnings, then fell 4.5%.

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