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Cathie Wood’s ARK Invest Adjusts Portfolio: Reduces AMD, Increases Alibaba and Baidu
Cathie Wood’s ARK Invest Adjusts Portfolio: Reduces AMD, Increases Alibaba and Baidu
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BTCCSquare news:
Cathie Wood's ARK Invest ETFs executed significant portfolio rebalancing on September 24, divesting $22.3 million worth of AMD shares while expanding positions in Chinese tech leaders Alibaba and Baidu. The MOVE coincides with heightened competition in the semiconductor sector following Nvidia's strategic investments in Intel and OpenAI.
AMD shares show mixed signals - while Wall Street maintains a Moderate Buy rating with 17% projected upside, the stock has dipped 4% monthly despite a 33% YTD gain. ARK Innovation ETF's divestment reflects sector-wide concerns as Broadcom secures a $10 billion AI chip order, signaling intense rivalry in semiconductor markets.
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