TLDR
- ARK Invest bought 280,450 Amazon shares worth ~$71.5 million on April 24, 2026
- ARK sold 215,643 AMD shares worth ~$65.8 million the same day
- Amazon is up 15% YTD and hit an all-time high of $263.99 on April 24
- AMD is up 62% YTD; its stock surged 14% after strong Intel results
- Amazon reports Q1 FY26 earnings on April 29; AMD reports May 5
Cathie Wood is making a clear bet. ARK Invest has been steadily building its Amazon position while cutting AMD — and last Friday’s trades made that pivot hard to ignore.
On April 24, ARK purchased 280,450 Amazon (AMZN) shares across its ETFs, worth roughly $71.5 million. It was the second Amazon purchase that week, following a smaller 3,492-share buy earlier in the week.
On the same day, ARK sold 215,643 AMD (AMD) shares for approximately $65.8 million. That follows an earlier AMD sale of around 44,446 shares earlier in the month.
The trades point to a deliberate rotation — out of semiconductor hardware and into what Wood sees as the bigger AI platform play.
Amazon stock has surged more than 15% year-to-date, reaching an all-time high of $263.99 on April 24. The timing of ARK’s buy is notable. Amazon reports Q1 FY26 earnings on April 29, after market close.
Wall Street expects Amazon to post earnings per share of $1.63, up 2.5% year-over-year. Revenue is forecast to climb around 14% to $177.27 billion.
Amazon Earnings in Focus
Ahead of earnings, Cantor Fitzgerald analyst Deepak Mathivanan raised his Amazon price target to $280, up from $260, keeping an Overweight rating. He flagged strong AWS growth driven by AI demand, with backlog rising on deals with OpenAI and Anthropic. He also flagged higher costs as a near-term risk.
Amazon holds a Strong Buy consensus on Wall Street, based on 42 Buy ratings and three Holds. The average price target sits at $287.33, implying around 8.8% upside from current levels.
Amazon’s GF Score stands at 94 out of 100, with a perfect 10/10 growth rank. Its P/E ratio is 36.82x. One flag worth watching: insiders have sold around $28 million worth of stock over the past three months, with no insider purchases recorded in that period.
AMD’s Big Week
AMD has had a strong run. The stock is up 62% year-to-date, powered by AI chip demand and data center growth.
Friday’s 14% single-day surge came after Intel reported better-than-expected Q1 results, lifting sentiment across the chip sector. That rally may have given Wood a clean exit point to take profits before AMD’s own earnings on May 5.
D.A. Davidson analyst Gil Luria upgraded AMD to Buy from Hold, citing structural growth in CPU demand and better visibility in the data center business. He also pointed to Intel’s Q1 results as a sign of upside potential for AMD’s near-term numbers.
Wall Street expects AMD to report Q1 EPS of $1.28, up 32% year-over-year, with revenue of $9.87 billion — up 33% from a year ago.
AMD carries a Moderate Buy consensus, with 20 Buys and seven Holds. The average price target of $295.04 implies around 15% downside from current levels.
ARK also made other moves on April 24, buying 4,020,925 shares of X-Energy Inc (XE) worth $92.5 million, and selling positions in Rocket Lab (RKLB), Teradyne (TER), Caterpillar (CAT), and Iridium Communications (IRDM).
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