Cathie Wood Doubles Down on Nvidia Stock (NVDA) Ahead of Q1 Earnings
Ace hedge fund manager Cathie Wood bought additional Nvidia (NVDA) stock yesterday, just ahead of its first-quarter fiscal 2026 results. According to daily trades published by ARK Invest ETFs, the Ark Innovation ETF (ARKK) bought roughly 21,400 shares of Nvidia, while the Ark Next Generation Internet ETF (ARKW) added another 13,284 shares on May 27. Together, the combined purchase of NVDA stock amounted to $4.7 million.
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Interestingly, Wood's largest trade yesterday was the purchase of Nvidia's rival, Advanced Micro Devices (AMD). Combined, ARKK and ARKW ETFs, bought 97,068 shares of the semiconductor player, valued at over $10.7 million. The move reflects Wood's growing confidence in AMD compared to NVDA.
Meanwhile, Wood also purchased 262,459 shares of gene-editing company, CRISPR Therapeutics (CRSP), worth $9.67 million on May 27. In a surprise move, she sold 273,377 shares of her favorite disruptive stock, Tesla (TSLA), resulting in a sale of $9.29 million.
Is Nvidia a Long-Term Investment?
Nvidia is set to release its Q1 results after the market closes today. The Street expects Nvidia to post adjusted earnings per share (EPS) of $0.74, up 21.3% year-over-year. Meanwhile, sales are expected to surge 66.5% year-over-year to $43.34 billion in Q1.
Ahead of Nvidia's highly anticipated results, analysts remain optimistic about the stock's long-term trajectory. On TipRanks, NVDA stock commands a Strong Buy consensus rating based on 32 Buys, four Holds, and one Sell rating. Also, the average Nvidia price target of $164.21 implies 21.2% upside potential from current levels. In the past year, NVDA stock has gained nearly 19%.
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