Cathie Wood Books $65.8M in AMD Profits After 70% Monthly Surge — Still Holds #3 Position in ARKK

Intel earnings surprise sparks AMD rally — DA Davidson raises price target to $375

Justin·April 27, 2026·5 min read

AI Summary

Cathie Wood sold 215,643 shares of AMD for $65.84 million per ARK's official SEC filing, with the trade executed at approximately $305 per share in early trading — representing profit-taking after a roughly 70% one-month rally driven by Intel's Q1 earnings surprise. Despite the large sale, AMD retains its position as ARKK's third-largest holding with a market value of approximately $416 million. DA Davidson upgraded AMD to Buy with a $375 price target, citing structural CPU demand from agentic AI workloads, with AMD's own Q1 earnings due May 5 as the next key catalyst. ARKK remains down 1.76% YTD, significantly trailing the S&P 500's +4.67% gain, though Wood continues to champion her 'Great Acceleration' thesis built on rapidly declining AI training and inference costs.

ARK Invest's Cathie Wood sold 215,643 shares of AMD on April 24 (local time). Based on ARK's official trade disclosure, the transaction totaled $65.84 million (approximately ₩90.8 billion), making it the largest single sale Wood has executed in recent trading activity. The transaction is estimated to have been executed at approximately $305 per share during early trading — distinct from the figure implied by the day's closing price of $347.81, which would back-calculate to roughly $75 million.

AMD shares surged 13.9% in a single session, bringing the stock's cumulative gain over the past month to approximately 70%. Wood's sale is widely interpreted as profit-taking following the sharp run-up. Despite the large divestiture, AMD remains the third-largest holding in the ARKK portfolio, with a market value of approximately $416 million.

Intel Earnings Surprise Acts as Catalyst for AMD's Sympathy Rally

The immediate catalyst for AMD's surge was Intel's Q1 earnings beat. After the close on April 23, Intel reported revenue of $13.58 billion (+7.2% YoY) and adjusted EPS of $0.29, significantly exceeding consensus estimates of $12.4 billion in revenue and $0.01 EPS. As AI-driven data center demand surged, Intel shares spiked 23.6% on April 24 — and AMD, a direct CPU market rival, benefited substantially from the sector-wide re-rating.

DA Davidson analyst Gil Luria upgraded AMD from Neutral to Buy and raised his price target from $220 to $375, noting that "CPUs are re-emerging as an indispensable foundation for the AI era." His thesis centers on agentic AI workloads structurally driving server CPU demand higher. AMD is scheduled to report its Q1 earnings on May 5.

ARKK Down 1.76% YTD, Trailing the S&P 500

Wood's recent performance has been lackluster. ARKK is down 1.76% year-to-date, significantly underperforming the S&P 500's +4.67% gain. According to Morningstar, ARKK and ARKW (ARK Next Generation Internet ETF) ranked 5th and 2nd, respectively, among the worst-performing ETFs in Q1 2026. Net outflows from ARKK over the past 12 months total approximately $1.12 billion, and the fund's 5-year annualized return stands at -9.01% — a stark contrast to the S&P 500's +13.01% over the same period.

Nevertheless, Wood's macro optimism remains intact. She stated that "we are not heading into a Great Depression — we are heading into a Great Acceleration," arguing that deflationary forces from AI — including a 75% annual decline in AI training costs and up to 98% reduction in inference costs — will drive long-term growth. She continues to project that AI-driven innovation could lift global real GDP growth to the 7–8% range.

Wood's Recent Portfolio Moves

Alongside the AMD sale, Wood simultaneously initiated or added positions in X Energy (XE) and Amazon (AMZN) across ARK funds on the same day. She also trimmed her position in Rocket Lab (RKLB).

As of April 24, ARKK's top 10 holdings are: Tesla (9.49%), CRISPR Therapeutics (6.40%), AMD (5.18%), Tempus AI (4.94%), Shopify (4.47%), Coinbase (4.44%), Robinhood (4.31%), Roku (4.25%), Circle (4.21%), and Beam Therapeutics (3.78%).

AI Summary

Cathie Wood sold 215,643 shares of AMD for $65.84 million (approximately ₩90.8 billion) per ARK's official filing. The trade was executed at approximately $305 per share in early trading, representing profit-taking after a ~70% one-month rally.

AMD retains its position as ARKK's third-largest holding. DA Davidson upgraded AMD to Buy with a $375 price target, and the May 5 earnings report represents the next key inflection point.

ARKK is down 1.76% YTD, trailing the S&P 500, though Wood maintains her bullish outlook on AI's 'Great Acceleration' thesis.

FAQ

Q. Does Wood selling AMD signal a negative outlook on the stock?

A. No. The sale reflects partial profit-taking after a sharp rally, not a bearish thesis reversal. AMD remains ARKK's third-largest holding, and the structural case for AMD's AI data center CPU demand is, if anything, strengthening.

Q. The article mentions both $75M and $65.8M — which figure is accurate?

A. The actual transaction amount reported in ARK's SEC filing is $65,842,277. The $75M figure is a back-calculation based on the day's closing price of $347.81 applied to the share count sold. In reality, the trade was executed at approximately $305 in early trading, which explains the discrepancy.

Q. Why does Intel's earnings beat benefit AMD?

A. Intel and AMD are the two dominant players in the server CPU market. Intel's confirmation of surging AI inference demand directly raises the demand outlook for AMD's EPYC server CPUs, lifting both names in a sympathy trade.

Q. Why invest in ARKK given its -9% five-year return?

A. ARKK's concentrated exposure to high-growth, high-volatility names produces explosive upside in bull markets (+153% in 2020) but severe drawdowns in downturns (-60% in 2022). The fund primarily appeals to investors seeking concentrated thematic exposure to AI and biotech, rather than long-term risk-adjusted returns.