Cathie Wood Piles Into AMD, Trims Others

Advanced Micro Devices (NASDAQ:AMD) jumps into ARK’s portfolios as Cathie Wood buys the Q2 dip and trims Palantir (PLTR) and Roblox (RBLX) stakes.

On August 6, ARK Invest poured about $38 million into AMD across five funds including ARKK, ARKW, ARKF, ARKQ and ARKX after the stock slumped more than 6% following mixed second-quarter results. Shares fell 4% in after-hours trading and closed down 6.42% yesterday, even as analysts boosted price targets on strong data-center demand.

Wood’s move signals faith in AMD’s AI-chip roadmap, while she pared back holdings in PLTR and RBLX, rotating into semiconductors and genomics. Top Wall Street firms remain upbeat, citing solid revenue growth and long-term growth drivers in cloud and edge computing.

Why it matters is that when Wood ‘buys the dip,’ her trades often spark broader follow-on flows, so this pivot could draw fresh institutional interest in AMD.

Investors will watch AMD’s guidance and ARK’s next trade filings for clues on whether the bounce sticks.

This article first appeared on GuruFocus.