Trimming Semiconductor Positions
ARK Invest founder Wood recently shifted capital, disclosing through trading filings that after active trading in semiconductor concept stocks and accumulated gains, she took profits and sold off holdings in AMD and TSMC with a total value of about 2250 million? Actually about $22.50 million, while simultaneously buying additional shares in electric air taxi makers Archer Aviation and Joby Aviation totaling about $6.8 million.
Exiting AMD Ahead of Earnings
According to trading data, ARK sold 24,796 shares of AMD at the Oct. 26 closing price of $531.28, for a total value of about $13.2 million. Supported by strong AI chip demand, AMD shares have risen about 148% so far this year. The sale came ahead of the company's third-quarter earnings scheduled for November 3. Wall Street expects AMD's third-quarter earnings per share to reach $1.94, up from $1.20 a year ago, with revenue forecast to climb from $9.25 billion to $13.08 billion.
Analysts Remain Bullish
Although ARK continues to reduce its AMD stake, most Wall Street analysts remain bullish. SIG analyst Rolland maintained a Positive rating on Oct. 21 and raised the target price to $620, while Bernstein also maintained an Outperform rating with a target of $650, showing continued market confidence in the AI chip demand outlook.
Trimming TSMC Stake
On TSMC, the ARK Innovation ETF sold 21,894 TSMC ADRs for a total value of about $9.3 million. TSMC shares rose 1.4% on Monday to close at $424.37, up about 41% so far this year. Last week Moody's upgraded TSMC's credit rating from Aa3 to Aa2, citing its leading position in advanced-process chips and sound financial health. Despite AI chip demand supporting the TSMC outlook, ARK still chose to trim its position.
Adding Air Taxi Names
On the other hand, ARK bought 1,161,604 shares of Archer worth about $4.8 million through its Autonomous Technology & Robotics ETF and Space Exploration & Innovation ETF. Archer is actively developing its Midnight electric air taxi and moving toward commercial service, and is also advancing a collaboration agreement with Boeing's Wisk business. The company reported $5 million in revenue in its latest quarter, beating market expectations of $1.96 million, with $1.56 billion in liquidity at quarter-end. In addition, ARK bought 434,012 shares of Joby worth about $2 million through the same two ETFs. Joby is also working to bring electric air taxis into commercial operation, reporting second-quarter revenue of $38.64 million, above the expected 3038 million? Actually $30.38 million.