Cathie Wood's Ark Goes Chip-Stock Shopping Ahead Of AMD Earnings, Adds More Of Warren Buffett-Backed Chinese EV Play

Cathie Wood’s Ark Invest was on a chip stock buying spree on Monday, and the purchase assumes importance because it came just ahead of Advanced Micro Devices, Inc.’s AMD earnings.

What Happened: Ark, through its ARK Autonomous Technology & Robotics ETF ARKQ, added 2,895 shares of AMD, valued at $463,779. AMD has a 1.83% weighting in the exchange-traded fund, which holds just under 100,000 shares of the chipmaker.

AMD is scheduled to report its first-quarter results on Tuesday after the market close, with analysts, on average, estimating earnings of 61 cents per share on revenue of $5.46 billion, according to Benzinga Pro data.

Ark also bought 2,079 shares of Taiwan Semiconductor Manufacturing Co. Ltd. TSM, the foundry that supplies chips to Nvidia and Apple. Based on the closing price of the NYSE-listed TSMC ADR, the purchase is worth $287,942.

TSMC recently reported a first-quarter beat, riding on AI chip demand.

ARKQ also added 1,061 shares of Qualcomm, Inc. QCOM valued at $79,521. Qualcomm is scheduled to report its quarterly results Wednesday after the market close.

The iShares Semiconductor ETF SOXX, which tracks the performance of the Philadelphia Semiconductor Index, added 0.76% on Monday. For the year, the ETF has gained about 15%.

See Also: Best ETFs To Buy Right Now

BYD Buying Continues: Ark continued to add ADRs of Warren Buffett-backed Chinese electric vehicle startup BYD Co. Ltd. BYDDY BYDDF. On Monday, ARKQ picked up 5,087 ADRs worth $281,567. This comes on top of the $1.69 million worth of the company’s ADRs the firm bought last week.

Ark’s flagship Ark Innovation ETF ARKK ended Monday’s session up 2.41% at $45.13, according to Benzinga Pro data.

Read Next: Cathie Wood’s Ark Invest Scoops Up Over $4M Worth Of Palantir, Meta Platforms Shares