Key Takeaways:
- ARK Invest sold over $8 million of AMD shares on July 6, 2026
- The sale follows a $28 million AMD purchase in February after a 17% dip
- AMD stock has surged roughly 140% year-to-date, driven by AI chip demand
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Cathie Wood sells $8M of AMD stock after 140% rally in 2026
Cathie Wood's ARK Invest sold more than $8 million of Advanced Micro Devices shares on July 6, trimming a position built during February's selloff.
The sale is likely profit-taking after AMD's roughly 140% year-to-date gain rather than a bearish call on the chipmaker, according to a review of ARK's daily trade disclosures.
ARK's ARKK ETF sold 15,000 AMD shares valued at more than $8 million on July 6. On the same day, three ARK funds bought $5.6 million of Kratos Defense & Security Solutions, a defense technology contractor. The sale comes after ARK purchased 141,000 AMD shares across five ETFs on Feb. 4 for about $28 million, when the stock sank 17% following its 2025 fourth-quarter report.
AMD shares closed at $516.11 on July 7, up from $351.51 on May 5 when the company reported first-quarter results that beat estimates. Revenue of $10.2 billion topped the $9.8 billion consensus by $400 million, while earnings per share of $1.3 billion exceeded the $1.2 billion estimate. The second-quarter revenue forecast of $11.2 billion also surpassed expectations of $10.5 billion.
The February purchase came after AMD's stock fell 17.3% from Feb. 3 to Feb. 4, when the company reported its 2025 full-year results. ARK bought the dip across five funds, with the ARKK ETF among the buyers.
AMD's turnaround began in April, and the stock accelerated after the May 5 earnings report. The company's data center segment has been a key growth driver as it competes with Nvidia in the AI chip market. AMD's market capitalization has swelled past $800 billion, narrowing the valuation gap with Intel while remaining far behind Nvidia's $3 trillion-plus market value. The broader Philadelphia Semiconductor Index has gained 32% this year, lifted by AI-related demand.
The sale suggests ARK views AMD's valuation as stretched after the rally, though the firm maintains a core position. Investors will watch AMD's second-quarter earnings in August for signs that data center revenue growth can sustain the stock's momentum.
This article is for informational purposes only and does not constitute investment advice.