Cathie Wood Snaps Up Over $5M AMD Stock Ahead Of Q3 Results; Here's Another Chipmaker Ark Bought Friday
Portfolio Pulse from Shanthi Rexaline
Ark Invest, founded by Cathie Wood, purchased 54,289 shares of Advanced Micro Devices, Inc. (AMD) and 3,046 shares of Taiwan Semiconductor Manufacturing Co. Ltd. (TSM) on Friday. The AMD purchase was valued at $5.24 million, while the TSM purchase was valued at about $261,926. AMD is set to release its Q3 results on Tuesday, with analysts expecting a slight decline in earnings per share and revenues compared to the previous year.
October 30, 2023 | 10:53 am
News sentiment analysis
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POSITIVE IMPACT
ARKQ, the ETF through which Ark Invest made the purchases, could see increased interest due to these recent acquisitions.
The recent purchases of AMD and TSM shares by Ark Invest through ARKQ could potentially attract more investors to the ETF, leading to increased demand and potentially a rise in its price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Ark Invest's purchase of AMD shares could indicate confidence in the company's upcoming Q3 results. However, analysts expect a slight decline in earnings and revenues.
The purchase of AMD shares by Ark Invest could be seen as a positive sign, indicating confidence in the company's performance. However, analysts' expectations of a slight decline in earnings and revenues could potentially offset this positive sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Ark Invest also purchased TSM shares, despite the company's recent Q3 earnings and revenue decline. However, these metrics were above expectations.
Ark Invest's purchase of TSM shares could be seen as a positive sign, despite the company's recent Q3 earnings and revenue decline. The fact that these metrics were above expectations could be a factor in Ark Invest's decision.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80