Cathie Wood’s ARK Invest ETFs (exchange-traded funds) made a notable portfolio move on Thursday, April 30, 2026, as shown in ARK’s daily fund disclosures. The firm continued to reduce its position in the semiconductor firm, Advanced Micro Devices (AMD) while doubling down on big tech companies Alphabet (GOOGL) and Meta Platforms (META) following their recent earnings releases.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Wood Trims AMD Stake Despite Stock Gains Ahead of Earnings
The most significant move of the day was the sale of 172,305 shares of AMD across multiple ARK ETFs valued at approximately $58.09 million.
This adds to a broader trend for the firm, as ARK also sold more than 215,000 shares of AMD last Friday. Notably, Wood is trimming the position even as the stock remains strong, with AMD closing Thursday up 5.16% at $354.49.
The firm appears to be locking in profits or reducing risk ahead of AMD’s Q1 2026 earnings report, which is scheduled for release on May 5, 2026. For the upcoming quarter, analysts expect AMD to report revenue of roughly $9.88 billion, representing a 33% increase year-over-year. Also, EPS is projected to rise about 33% to $1.28.
Is AMD Stock a Buy or Sell Now?
Heading into Q1 earnings, Wall Street has a Moderate Buy consensus rating on Advanced Micro Devices stock based on 19 Buys and nine Holds. The average AMD stock price target of $296.24 indicates about 16% downside risk.
ARK Doubles Down on Alphabet and Meta Post-Earnings
While trimming exposure to semiconductors, Wood added positions in two “Magnificent Seven” names—Alphabet and Meta.
Alphabet (GOOGL): ARK bought 84,129 shares worth about $29.22 million on Thursday, following an earlier purchase of over 40,000 shares in the week. The move points to rising confidence in the search giant.
GOOGL stock jumped nearly 10% on Thursday to close at $384.80 after the company reported a strong earnings beat and its first-ever quarterly revenue above $100 billion. Following the results, five-star-rated analyst Doug Anmuth at JPMorgan raised his price target for GOOGL stock to $460 from $395 and kept a Buy rating. He highlighted that Google’s AI business is delivering real results across multiple areas.
Meta Platforms (META): Wood also added 47,201 shares of Meta, valued at roughly $31.58 million. The stock fell 8.55% on Thursday to close at $611.91. While Meta beat expectations on both revenue and profit, investors reacted to a higher-than-expected outlook for AI spending.
Wood appears to be using the dip to build her position, signaling confidence in the company’s long-term AI strategy. Following the results, Goldman Sachs analyst Eric Sheridan also said that the company is well placed to benefit from long-term growth trends. He also pointed to strong momentum in key areas such as Reels, click-to-message ads, and AI tools like Advantage+, which are seeing increased use from advertisers.
Wall Street’s Take on GOOGL and META Stocks
Using the TipRanks comparison tool, both Alphabet and Meta carry a Strong Buy consensus. Alphabet stands out with a higher Smart Score of 9, while Meta holds a solid 8. However, Meta offers significantly higher upside based on analyst price targets, compared to the more modest upside for Alphabet.
