Key Highlights
- ARK Invest acquired 280,450 shares of Amazon valued at approximately $71.5 million on April 24, 2026
- The firm divested 215,643 AMD shares totaling roughly $65.8 million on the same trading day
- Amazon shares have climbed 15% year-to-date, touching a record peak of $263.99 on April 24
- AMD stock has surged 62% this year; shares jumped 14% following positive Intel earnings
- Amazon’s Q1 FY26 results due April 29; AMD scheduled to report May 5
Cathie Wood’s investment thesis is coming into sharper focus. Her flagship ARK Invest has been systematically increasing its Amazon exposure while reducing AMD holdings — and the latest round of transactions underscores this strategic shift.
ARK snapped up 280,450 Amazon (AMZN) shares throughout its exchange-traded funds on April 24, representing approximately $71.5 million in capital deployment. This marked the second Amazon acquisition within that week, after a modest 3,492-share purchase just days earlier.
Simultaneously, the investment firm offloaded 215,643 AMD (AMD) shares valued at about $65.8 million. This sale follows a previous AMD divestment of approximately 44,446 shares earlier this month.
The pattern reveals a calculated reallocation strategy — shifting away from semiconductor manufacturing toward what Wood perceives as the dominant AI infrastructure opportunity.
Amazon’s share price has rallied over 15% since the start of the year, touching a record high of $263.99 on April 24. ARK’s purchasing timing is significant, coming just days before Amazon unveils its Q1 FY26 financial results on April 29 after trading hours.
Analyst projections anticipate Amazon delivering earnings per share of $1.63, representing a 2.5% increase year-over-year. Top-line revenue is expected to expand approximately 14% to $177.27 billion.
Amazon Earnings Outlook
Prior to the earnings release, Cantor Fitzgerald’s Deepak Mathivanan elevated his Amazon price objective to $280 from $260 while maintaining an Overweight stance. He highlighted robust AWS expansion fueled by artificial intelligence demand, with contract backlog expanding through partnerships with OpenAI and Anthropic. He cautioned that elevated expenses present a short-term headwind.
Amazon commands a Strong Buy rating from the Street consensus, supported by 42 Buy recommendations and three Hold ratings. The mean price objective stands at $287.33, suggesting approximately 8.8% appreciation potential from present trading levels.
Amazon’s GF Score registers at 94 out of 100, featuring a perfect 10/10 growth ranking. The company trades at a P/E multiple of 36.82x. One consideration for investors: company insiders have liquidated approximately $28 million in shares during the previous three months, with zero insider buying activity during this timeframe.
AMD’s Momentum Play
AMD has delivered exceptional performance. Shares have soared 62% year-to-date, propelled by artificial intelligence processor demand and data center expansion.
The stock’s remarkable 14% single-session gain on Friday followed Intel’s stronger-than-anticipated Q1 performance, boosting optimism throughout the semiconductor industry. This rally potentially provided Wood an opportune moment to lock in gains ahead of AMD’s May 5 earnings announcement.
D.A. Davidson’s Gil Luria elevated AMD to Buy from Hold, highlighting structural expansion in CPU demand and improved transparency in the data center segment. He referenced Intel’s Q1 performance as evidence of potential upside for AMD’s upcoming report.
Street expectations call for AMD to deliver Q1 EPS of $1.28, up 32% year-over-year, alongside revenue of $9.87 billion — representing a 33% annual increase.
AMD holds a Moderate Buy consensus rating, comprised of 20 Buy and seven Hold recommendations. The mean price target of $295.04 suggests approximately 15% downside from current trading levels.
Beyond the Amazon and AMD transactions on April 24, ARK purchased 4,020,925 shares of X-Energy Inc (XE) valued at $92.5 million, while trimming holdings in Rocket Lab (RKLB), Teradyne (TER), Caterpillar (CAT), and Iridium Communications (IRDM).
