Latest news with #ArkInnovation
Miami Herald
25-05-2025
- Business
- Miami Herald
Cathie Wood buys $46 million of surging top semiconductor stock
Cathie Wood, head of Ark Investment Management, is known for making bold bets on disruptive innovation, mostly in the U.S. But this week, she looked abroad, buying an Asian chipmaker as investor optimism around AI infrastructure and semiconductors returns following signs of easing tariffs. Don't miss the move: Subscribe to TheStreet's free daily newsletter In April, President Donald Trump raised tariffs on Chinese goods to as high as 145%, prompting swift retaliation from Beijing and triggering a sharp market sell-off as tensions flared between the world's two largest economies. Earlier this month, the U.S. and China struck a rare deal in Geneva to temporarily cut tariffs as both sides work toward a broader agreement. Wood's funds saw a brief bump after Trump won the presidency last November, but that momentum didn't go far. Her flagship Ark Innovation ETF (ARKK) underperformed the S&P 500 index amid broader market volatility. Year-to-date, ARKK is down 2.67%, slightly worse than the S&P 500's loss of 1.34%. Wood gained a remarkable 153% in 2020, which helped build her reputation and attract loyal investors. Still, her long-term performance has made many others skeptical of her aggressive style. As of May 23, Ark Innovation ETF, with $5 billion under management, has delivered a five-year annualized return of negative 1.75%. In comparison, the S&P 500 has an annualized return of 16.20% over the same period. Image source:Wood's investment strategy is straightforward: Her Ark ETFs typically buy shares in emerging high-tech companies in fields such as artificial intelligence, blockchain, biomedical technology, and robotics. Wood says these companies have the potential to reshape industries, but their volatility leads to major fluctuations in Ark funds' values. Related: Cathie Wood's net worth: The Ark Invest CEO's wealth & income The Ark Innovation ETF wiped out $7 billion in investor wealth over the 10 years ending in 2024, according to an analysis by Morningstar's analyst Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott's ranking. Wood recently said the U.S. is coming out of a three-year "rolling recession" and heading into a productivity-led recovery that could trigger a broader bull market. In a letter to investors published on April 30, she dismissed predictions of a recession dragging into 2026, as she expects "more clarity on tariffs, taxes, regulations, and interest rates over the next three to six months." "If the current tariff turmoil results in freer trade, as tariffs and non-tariff barriers come down in tandem with declines in other taxes, regulations, and interest rates, then real GDP growth and productivity should surprise on the high side of expectations at some point during the second half of this year," she wrote. She also struck an optimistic tone for tech stocks. "During the current turbulent transition in the US, we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," she said. But not all investors share Wood's optimism. The Ark Innovation ETF has seen a net outflow of $2.45 billion over the past 12 months through May 21, with $446.69 million exiting in the past month, according to ETF research firm VettaFi. On May 19 and 20, Wood's Ark funds bought 241,047 shares of Taiwan Semiconductor Manufacturing Company, or TSMC (TSM) . That chunk of stock is valued at roughly $46.3 million and is one of Wood's biggest recent trades. Related: Cathie Wood buys $2.7M surging China tech stock after tariff talks Taiwan Semiconductor is the world's leading contract chipmaker and a key supplier to Nvidia (NVDA) and Advanced Micro Devices (AMD) . It manufactures advanced chips used in artificial intelligence applications, including those that power large language models developed by companies such as Microsoft (MSFT) and Google (GOOGL) . TSMC shares are down 4.2% so far in 2025, but the stock has rebounded sharply in the past month, climbing nearly 27% as investors reassess the impact of U.S.-China tariffs on the chipmaker's outlook. In April, the company reported strong first-quarter results, with earnings per share increased 60.4% to $2.12 per ADR. Revenue reached $25.53 billion, a 41.6% increase year-over-year. For the current quarter, TSMC expects revenue of $28.4 billion to $29.2 billion. The midpoint of $28.8 billion topped Wall Street's target of $26.92 billion. "Moving into second quarter 2025, we expect our business to be supported by strong demand for our industry-leading 3-nanometer and 5-nanometer technologies," TSMC Chief Financial Officer Wendell Huang said. The bullish bet isn't without risk. TSMC is exposed to geopolitical tensions and trade uncertainties between the U.S. and China, which could hurt the company's delivery and revenue. "While we have not seen any changes in our customers' behavior so far, uncertainties and risks from the potential impact from tariff policies exist," Huang said in a TSMC news release. Nvidia's CEO, Jensen Huang, said last September that Nvidia had the ability to turn to other suppliers as it had enough intellectual property. But he flagged that the switch might lower chip quality. More Nvidia: Will Nvidia get hit hard by AI capex risk?Analysts revise Nvidia price target on chip demandSurprising China news sends Nvidia stock tumbling "Maybe the process technology is not as great, maybe we won't be able to get the same level of performance or cost, but we will be able to provide the supply," Huang said at Goldman Sachs's Communacopia + Technology Conference. "In the event anything were to happen, we should be able to pick up and fab it somewhere else." Still, he praised TSMC's unmatched capabilities. "TSMC is the world's best by an incredible margin…the great chemistry, their agility, the fact that they could scale," he added. In the first quarter, Wood purchased 8,996 TSMC shares. The stock is not in her top 10 holdings. Billionaire investor Stanley Druckenmiller also made a bold bet in TSMC, adding 491,265 shares in the first quarter, which represents an increase of 456.9% in his stake. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
17-05-2025
- Business
- Yahoo
Cathie Wood buys $2.7M surging China tech stock after tariff talks
Cathie Wood, founder and chief of Ark Investment Management, is best known for backing cutting-edge tech like AI and robotics, with most of her investments focused on U.S. companies. But this week, she made a move in China, picking up $2.7 million worth of a Chinese tech stock as trade tensions between Washington and Beijing showed signs of easing. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💵 In early April, President Donald Trump raised tariffs on Chinese goods to as high as 145%, setting off tensions between the world's two biggest economies and triggering a sharp market sell-off. Last week, the two sides reached a deal in Geneva: the U.S. will cut those tariffs to 30% for the next three months, while China agreed to lower its own duties on U.S. imports to 10% from 125%. Wood's funds saw a brief bump after Trump won the presidency last November, but that momentum didn't go far. Her flagship Ark Innovation ETF () underperformed both the S&P 500 and Nasdaq Composite through March and April amid broader market volatility. However, as of May 16, ARKK has started to recover, showing a 1.32% gain for the year, slightly ahead of the S&P 500's 1.30% gain and outperforming the Nasdaq's 0.52% loss. Wood gained a remarkable 153% in 2020, which helped build her reputation and attract loyal investors. Still, her long-term performance has made many others skeptical of her aggressive style. As of May 16, Ark Innovation ETF, with $5 billion under management, has delivered a five-year annualized return of just 0.59%. In comparison, the S&P 500 has an annualized return of 17.57% over the same period. Wood's investment strategy is straightforward: Her Ark ETFs typically buy shares in emerging high-tech companies in fields such as artificial intelligence, blockchain, biomedical technology, and robotics. Wood says these companies have the potential to reshape industries, but their volatility leads to major fluctuations in Ark funds' Ark Innovation ETF wiped out $7 billion in investor wealth over the 10 years ending in 2024, according to an analysis by Morningstar's analyst Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott's ranking. Wood says the U.S. is coming out of a three-year 'rolling recession' and heading into a productivity-led recovery that could trigger a broader bull market. In a letter to investors published on April 30, she dismissed predictions of a recession dragging into 2026, as she expects "more clarity on tariffs, taxes, regulations, and interest rates over the next three to six months." "If the current tariff turmoil results in freer trade, as tariffs and non-tariff barriers come down in tandem with declines in other taxes, regulations, and interest rates, then real GDP growth and productivity should surprise on the high side of expectations at some point during the second half of this year," she wrote. She also struck an optimistic tone for tech stocks. "During the current turbulent transition in the U.S., we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," she said. Not all investors share Wood's optimism. The Ark Innovation ETF has seen a net outflow of $2.01 billion over the past 12 months through May 14, with $208.41 million exiting in the past month, according to ETF research firm VettaFi. On May 12, Wood's Ark Autonomous Technology & Robotics ETF () bought 30,217 shares of Baidu Inc () . That chunk of stock is valued at roughly $2.7 million. Primarily known as China's top search engine, Baidu has shifted its focus to artificial intelligence and autonomous mobility. The company recently launched its new AI model, Ernie X1 and Ernie 4.5, positioning itself as a rival to OpenAI and DeepSeek. This isn't Wood's first move on Baidu or on Chinese tech in general. In the early 2020s, she was bullish on major Chinese tech names, building sizable positions in Baidu, Tencent, and early 2021, The Ark funds held nearly 5 million shares of Baidu, worth around $1 billion, reflecting her optimism on China's market momentum and Baidu's push into electric vehicles, a play that echoed her long-standing position in Tesla () . However, Wood's China investment hit hard in 2021 as Beijing's regulatory crackdown on tech firms intensified, and she gradually reduced her stakes. By the third quarter of 2022, Ark had fully exited Baidu. Wood returned to the name on March 24 this year, buying 129,451 shares — her first Baidu purchase in over two years. She added another 136,773 shares in April, followed by this latest May buy. Baidu shares are up roughly 6% in the past month. In a March interview with Bloomberg, Wood talked about how Robin Li, Baidu's CEO, is working to grow the company's self-driving business. More Tech Stocks: Amazon makes move that the White House hates, then walks it back Analyst reboots Apple stock price target ahead of earnings Controversial EV tax credits will be bad news for Tesla "We had a conversation very recently with Robin Li and his team and we understand how competitive the market is in China for both autonomous mobility and large language models. But we are looking at how Robin Li is pushing the envelope. Wuhan is the toughest in China. He can take learnings from that robotaxi experience into other markets," Wood said. "We believe that autonomous mobility in the next 5 to 10 years is going to scale globally to an $8 to $10 trillion market. If Baidu were to get any of that market even outside of China in the rest of Asia, we think that's not at all discounted in the stock," she added. Baidu stock is up 6.29% year-to-date.
Yahoo
17-05-2025
- Business
- Yahoo
Cathie Wood buys $2.7M surging China tech stock after tariff talks
Cathie Wood, founder and chief of Ark Investment Management, is best known for backing cutting-edge tech like AI and robotics, with most of her investments focused on U.S. companies. But this week, she made a move in China, picking up $2.7 million worth of a Chinese tech stock as trade tensions between Washington and Beijing showed signs of easing. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💵 In early April, President Donald Trump raised tariffs on Chinese goods to as high as 145%, setting off tensions between the world's two biggest economies and triggering a sharp market sell-off. Last week, the two sides reached a deal in Geneva: the U.S. will cut those tariffs to 30% for the next three months, while China agreed to lower its own duties on U.S. imports to 10% from 125%. Wood's funds saw a brief bump after Trump won the presidency last November, but that momentum didn't go far. Her flagship Ark Innovation ETF () underperformed both the S&P 500 and Nasdaq Composite through March and April amid broader market volatility. However, as of May 16, ARKK has started to recover, showing a 1.32% gain for the year, slightly ahead of the S&P 500's 1.30% gain and outperforming the Nasdaq's 0.52% loss. Wood gained a remarkable 153% in 2020, which helped build her reputation and attract loyal investors. Still, her long-term performance has made many others skeptical of her aggressive style. As of May 16, Ark Innovation ETF, with $5 billion under management, has delivered a five-year annualized return of just 0.59%. In comparison, the S&P 500 has an annualized return of 17.57% over the same period. Wood's investment strategy is straightforward: Her Ark ETFs typically buy shares in emerging high-tech companies in fields such as artificial intelligence, blockchain, biomedical technology, and robotics. Wood says these companies have the potential to reshape industries, but their volatility leads to major fluctuations in Ark funds' Ark Innovation ETF wiped out $7 billion in investor wealth over the 10 years ending in 2024, according to an analysis by Morningstar's analyst Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott's ranking. Wood says the U.S. is coming out of a three-year 'rolling recession' and heading into a productivity-led recovery that could trigger a broader bull market. In a letter to investors published on April 30, she dismissed predictions of a recession dragging into 2026, as she expects "more clarity on tariffs, taxes, regulations, and interest rates over the next three to six months." "If the current tariff turmoil results in freer trade, as tariffs and non-tariff barriers come down in tandem with declines in other taxes, regulations, and interest rates, then real GDP growth and productivity should surprise on the high side of expectations at some point during the second half of this year," she wrote. She also struck an optimistic tone for tech stocks. "During the current turbulent transition in the U.S., we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," she said. Not all investors share Wood's optimism. The Ark Innovation ETF has seen a net outflow of $2.01 billion over the past 12 months through May 14, with $208.41 million exiting in the past month, according to ETF research firm VettaFi. On May 12, Wood's Ark Autonomous Technology & Robotics ETF () bought 30,217 shares of Baidu Inc () . That chunk of stock is valued at roughly $2.7 million. Primarily known as China's top search engine, Baidu has shifted its focus to artificial intelligence and autonomous mobility. The company recently launched its new AI model, Ernie X1 and Ernie 4.5, positioning itself as a rival to OpenAI and DeepSeek. This isn't Wood's first move on Baidu or on Chinese tech in general. In the early 2020s, she was bullish on major Chinese tech names, building sizable positions in Baidu, Tencent, and early 2021, The Ark funds held nearly 5 million shares of Baidu, worth around $1 billion, reflecting her optimism on China's market momentum and Baidu's push into electric vehicles, a play that echoed her long-standing position in Tesla () . However, Wood's China investment hit hard in 2021 as Beijing's regulatory crackdown on tech firms intensified, and she gradually reduced her stakes. By the third quarter of 2022, Ark had fully exited Baidu. Wood returned to the name on March 24 this year, buying 129,451 shares — her first Baidu purchase in over two years. She added another 136,773 shares in April, followed by this latest May buy. Baidu shares are up roughly 6% in the past month. In a March interview with Bloomberg, Wood talked about how Robin Li, Baidu's CEO, is working to grow the company's self-driving business. More Tech Stocks: Amazon makes move that the White House hates, then walks it back Analyst reboots Apple stock price target ahead of earnings Controversial EV tax credits will be bad news for Tesla "We had a conversation very recently with Robin Li and his team and we understand how competitive the market is in China for both autonomous mobility and large language models. But we are looking at how Robin Li is pushing the envelope. Wuhan is the toughest in China. He can take learnings from that robotaxi experience into other markets," Wood said. "We believe that autonomous mobility in the next 5 to 10 years is going to scale globally to an $8 to $10 trillion market. If Baidu were to get any of that market even outside of China in the rest of Asia, we think that's not at all discounted in the stock," she added. Baidu stock is up 6.29% in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
17-05-2025
- Business
- Miami Herald
Cathie Wood buys $2.7M surging China tech stock after tariff talks
Cathie Wood, founder and chief of Ark Investment Management, is best known for backing cutting-edge tech like AI and robotics, with most of her investments focused on U.S. companies. But this week, she made a move in China, picking up $2.7 million worth of a Chinese tech stock as trade tensions between Washington and Beijing showed signs of easing. Don't miss the move: Subscribe to TheStreet's free daily newsletter In early April, President Donald Trump raised tariffs on Chinese goods to as high as 145%, setting off tensions between the world's two biggest economies and triggering a sharp market sell-off. Last week, the two sides reached a deal in Geneva: the U.S. will cut those tariffs to 30% for the next three months, while China agreed to lower its own duties on U.S. imports to 10% from 125%. Wood's funds saw a brief bump after Trump won the presidency last November, but that momentum didn't go far. Her flagship Ark Innovation ETF (ARKK) underperformed both the S&P 500 and Nasdaq Composite through March and April amid broader market volatility. However, as of May 16, ARKK has started to recover, showing a 1.32% gain for the year, slightly ahead of the S&P 500's 1.30% gain and outperforming the Nasdaq's 0.52% loss. Wood gained a remarkable 153% in 2020, which helped build her reputation and attract loyal investors. Still, her long-term performance has made many others skeptical of her aggressive style. As of May 16, Ark Innovation ETF, with $5 billion under management, has delivered a five-year annualized return of just 0.59%. In comparison, the S&P 500 has an annualized return of 17.57% over the same period. Wood's investment strategy is straightforward: Her Ark ETFs typically buy shares in emerging high-tech companies in fields such as artificial intelligence, blockchain, biomedical technology, and robotics. Wood says these companies have the potential to reshape industries, but their volatility leads to major fluctuations in Ark funds' values. Related: Cathie Wood's net worth: The Ark Invest CEO's wealth & income The Ark Innovation ETF wiped out $7 billion in investor wealth over the 10 years ending in 2024, according to an analysis by Morningstar's analyst Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott's ranking. Wood says the U.S. is coming out of a three-year "rolling recession" and heading into a productivity-led recovery that could trigger a broader bull market. In a letter to investors published on April 30, she dismissed predictions of a recession dragging into 2026, as she expects "more clarity on tariffs, taxes, regulations, and interest rates over the next three to six months." "If the current tariff turmoil results in freer trade, as tariffs and non-tariff barriers come down in tandem with declines in other taxes, regulations, and interest rates, then real GDP growth and productivity should surprise on the high side of expectations at some point during the second half of this year," she wrote. She also struck an optimistic tone for tech stocks. "During the current turbulent transition in the U.S., we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," she said. Not all investors share Wood's optimism. The Ark Innovation ETF has seen a net outflow of $2.01 billion over the past 12 months through May 14, with $208.41 million exiting in the past month, according to ETF research firm VettaFi. On May 12, Wood's Ark Autonomous Technology & Robotics ETF (ARKQ) bought 30,217 shares of Baidu Inc (BIDU) . That chunk of stock is valued at roughly $2.7 million. Primarily known as China's top search engine, Baidu has shifted its focus to artificial intelligence and autonomous mobility. The company recently launched its new AI model, Ernie X1 and Ernie 4.5, positioning itself as a rival to OpenAI and DeepSeek. This isn't Wood's first move on Baidu or on Chinese tech in general. In the early 2020s, she was bullish on major Chinese tech names, building sizable positions in Baidu, Tencent, and Related: Veteran fund manager unveils bold Nvidia stock price target after rally By early 2021, The Ark funds held nearly 5 million shares of Baidu, worth around $1 billion, reflecting her optimism on China's market momentum and Baidu's push into electric vehicles, a play that echoed her long-standing position in Tesla (TSLA) . However, Wood's China investment hit hard in 2021 as Beijing's regulatory crackdown on tech firms intensified, and she gradually reduced her stakes. By the third quarter of 2022, Ark had fully exited Baidu. Wood returned to the name on March 24 this year, buying 129,451 shares - her first Baidu purchase in over two years. She added another 136,773 shares in April, followed by this latest May buy. Baidu shares are up roughly 6% in the past month. In a March interview with Bloomberg, Wood talked about how Robin Li, Baidu's CEO, is working to grow the company's self-driving business. More Tech Stocks: Amazon makes move that the White House hates, then walks it backAnalyst reboots Apple stock price target ahead of earningsControversial EV tax credits will be bad news for Tesla "We had a conversation very recently with Robin Li and his team and we understand how competitive the market is in China for both autonomous mobility and large language models. But we are looking at how Robin Li is pushing the envelope. Wuhan is the toughest in China. He can take learnings from that robotaxi experience into other markets," Wood said. "We believe that autonomous mobility in the next 5 to 10 years is going to scale globally to an $8 to $10 trillion market. If Baidu were to get any of that market even outside of China in the rest of Asia, we think that's not at all discounted in the stock," she added. Baidu stock is up 6.29% year-to-date. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
10-04-2025
- Business
- Yahoo
Cathie Wood buys $15 million of tumbling Nvidia stock
Cathie Wood just made a move that raised eyebrows. The Ark Invest CEO, typically laser-focused on under-the-radar tech names, ventures into a popular mega-cap stock. On April 7, she bought $15 million shares of an AI giant that's been struggling for weeks, likely looking to take advantage of the recent market selloff. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💵 Wood's flagship fund, the Ark Innovation ETF () , is down 29.7% year-to-date as of April 8, while the S&P 500 and the Nasdaq Composite lost 15.3% and 19.4% during the same period, respectively. The ETF has wiped out the post-election gains since last November. Opinions on Wood vary. To her supporters, she is a visionary with a remarkable 153% return in 2020. However, her longer-term performance has raised doubts about her aggressive, opportunistic approach. As of April 7, Ark Innovation ETF, with $4.96 billion under management, has delivered an annualized three-year return of negative 12.3% and a five-year return of negative 0.4%. In comparison, the S&P 500 index has a three-year annualized return of 5.6% and a five-year return of 15.5%. Wood's investment strategy is straightforward: Her Ark ETFs typically buy shares in emerging high-tech companies in fields such as artificial intelligence, blockchain, biomedical technology and robotics. Wood says these companies have the potential to reshape industries, but their volatility leads to major fluctuations in Ark funds' values. Over the 10 years ending in 2024, the Ark Innovation ETF erased $7 billion in shareholder wealth, according to a recent analysis by Morningstar's Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in the ranking. Wood recently questioned President Donald Trump's tariffs on April 4 during the "In The Know with Cathie Wood' channel. The markets have been in turmoil since Trump returned office. On April 2, Trump announced another round of sweeping tariffs of at least 10% on key U.S. trade partners, and the S&P 500 index lost 10% in the two following called the move 'reciprocal,' arguing that other countries have taken advantage of the U.S. for too long. Wood questioned that. 'We know how he calculated his version of reciprocity, but it doesn't seem to make very much sense,' she said. "Things do feel a bit chaotic out there and the markets are convulsing as a result. There's a lot of uncertainty." Wood warned that if Trump's tariff plan isn't managed carefully, it could trigger a bear market or even a recession. Still, she's hopeful things will calm down as the negotiations move forward. 'Trump wants to be one of the greatest presidents ever... he's not going to get there by throwing the economy into a recession and the stock market into a bear market,' she said. But not all investors share Wood's optimism. The Ark Innovation ETF has seen a net outflow of $2.33 billion over the past 12 months through April 7, with $33 million exiting in the past five days, according to ETF research firm VettaFi. On April 7, Wood's Ark Innovation ETF bought 151,979 shares of Nvidia () . That chunk of stock is valued at roughly $15.2 million. The purchase was made after the stock slid 14% last week, bringing its year-to-date loss to 28.3%. Nvidia shares rose 171% in 2024 and was one of the top performers of the S&P 500 and the Nasdaq. It's often seen as the bellwether for AI-driven growth in the tech sector, given its dominance in supplying the chips that power data centers and generative AI applications. While the White House recently said semiconductors are excluded from tariffs, the disruption could still ripple through downstream electronics manufacturing and could impact demand for supply chain is largely based in the Asia-Pacific region, with much of its chip production relying on foundries like Taiwan Semiconductor Manufacturing Company () . CEO Jensen Huang said he doesn't expect tariffs to have a big effect on Nvidia's outlook and that the company plans to move more of its manufacturing to the U.S. in the future. 'Tariffs will have a little impact for us short term,' he said. However, even before the tariff announcement, Nvidia had been wrestling with headwinds. The chipmaker's stock sank nearly 20% in Q1 2025, weighed down by the rollout of China's cheap AI model, DeepSeek, disappointing earnings, and a broader tech sell-off caused by economic uncertainties. After the new tariffs, analysts at HSBC downgraded Nvidia's stock to hold from buy with a price target of $120, down from $175. They pointed to limited GPU pricing power going forward and increasing mismatches in the supply chain. Meanwhile, Bank of America analysts named Nvidia, alongside Broadcom () , Lam Research () , and Cadence Design Systems () , as the firm's top semiconductor picks after the tariffs, citing solid balance sheets and strong fundamental exposure in AI, cloud, and complex computing. According to Wood's last Nvidia buy was in Q3 2022, when she added 7 million shares. Since then, she has steadily trimmed her stake. Fund manager buys and sells Legendary fund manager sends blunt message on stock tumble Veteran fund manager unveils 4 ways market could rebound Fund manager who forecast S&P 500 crash unveils surprising update As of April 8, the stock is not among the top 10 holdings of the Ark Innovation ETF. Alongside the Nvidia buy, Wood also added 16,881 shares of Amazon () worth nearly $3 million, 84,514 shares of cryptocurrency exchange Coinbase () worth $12.5 million, and 40,358 shares of China tech stock Baidu () worth $3 in to access your portfolio
