Cathie Wood’s Ark Invest Banks on Chip, Tech Stocks in Latest Buy

by

As an experienced financial analyst, I believe Cathie Wood and Ark Invest’s latest stock purchases are strategic moves based on market trends and upcoming earnings season. The focus on tech and chip-making stocks, particularly META, is a wise decision given the anticipated upside in these sectors.

Cathie Wood’s investment firm, Ark Invest, purchased shares in tech and chipmaking companies on Monday. With earnings season approaching, there is optimism that these sectors will experience significant growth, making them an increasingly important part of Ark Invest’s portfolio.

Cathie Wood’s Ark Invest Buys BYD, META Shares

As a crypto investor, I’m excited to share that among the stocks our firm acquired on Monday, some noteworthy picks were China-based MetaPlatforms (META), which has long been favored by Cathie Wood and her Ark Invest team. Additionally, we added Qualcomm and Taiwan Semiconductor Manufacturing Company (TSMC) to our portfolio. Our diverse tech and chip investment strategy was reflected in this substantial purchase.

At this point in time, the sale of electric vehicles globally is projected to generate a staggering $623.3 billion by the year 2024. Among all nations, China is predicted to contribute the largest share, amounting to approximately US$319 billion in sales revenue in 2024. Given this market trend, the acquisition of companies like BYD seems aligned with the global market direction.

Cathie Wood and Ark Invest’s trade activity from today 4/29

— Ark Invest Daily (@ArkkDaily) April 30, 2024

Is META Ark Invest’s Cherished Stock?

As a crypto investor following Cathie Wood and Ark Invest’s moves, I’ve noticed their previous substantial purchases of META stocks. Despite the stock price recovering and closing 0.43% higher on Friday, Ark continued its buying spree, investing $5.98 million to acquire an additional 13,494 shares of Meta.

As a crypto investor, I closely monitored Ark Invest’s trading activities on Friday. Notably, they made substantial purchases of shares in some of their largest holdings, including AI-focused stocks like Palantir. With its first-quarter financial results due on May 5, this acquisition adds to my anticipation for Palantir’s performance. According to Benzinga Pro data, analysts predict an average earnings per share (EPS) of 8 cents and revenue of $625.33 million.

Purchasing tech stocks just before a company reports its earnings might be seen as a profitable move if those earnings meet or exceed predictions.

Cathie Wood’s Ark Invest Goes on EV Quest

Approximately a week ago, ARK Invest made a notable purchase of Tesla shares in alignment with their electric vehicle investment plan. This substantial investment in the industry’s foremost company underscores ARK’s confidence in Tesla’s prospective expansion.

Following clashes with OpenAI leading to a significant drop in Tesla (TSLA) stock prices by over 10%, Ark had previously purchased these shares. Subsequently, they utilized the accumulated funds to boost their holdings. In specific, ARKK acquired 61,073 shares, ARKQ obtained 5.684 shares, and ARKW secured 13,199 shares of TSLA.

Read More

2024-04-30 05:09