Cathie Wood Snaps Up Amazon and AMD Stocks but Offloads Palantir and CoreWeave

Popular investor Cathie Wood loaded up on additional Amazon (AMZN) and Advanced Micro Devices (AMD) stocks yesterday through the ARK Invest ETFs, reflecting confidence in the growth potential of these tech giants. However, as per the daily trades published by ARK, Wood offloaded shares of data analytics company Palantir Technologies (PLTR) and AI Infrastructure company CoreWeave (CRWV).

On Tuesday, Wood’s ARK Next Generation Internet ETF (ARKW) purchased 29,837 shares, worth about $6.2 million, of e-commerce and cloud computing giant Amazon. Further, the ARKW ETF also bought 53,081 shares of Advanced Micro Devices, having a value of nearly $6.1 million.

Turning to Wall Street, most analysts remain bullish on Amazon stock and are looking beyond the ongoing concerns related to the impact of tariffs on the company’s retail business. Analysts are optimistic about the company’s vast network, dominance in e-commerce and cloud computing, and AI-related tailwinds. Amazon scores a Strong Buy consensus rating based on 47 Buys and one Hold recommendation. The average AMZN stock price target of $241.29 implies about 17.3% upside potential.

Meanwhile, analysts are cautiously optimistic about Advanced Micro Devices stock amid concerns over trade wars, chip export restrictions, and macroeconomic pressures. The Moderate Buy consensus rating on AMD stock is based on 22 Buys and 10 Holds. The average AMD stock price target of $126.55 implies about 8% upside potential.

Aside from AMZN and AMD, other notable purchases made yesterday included 173,197 shares of precision oncology company Guardant Health Inc. (GH), valued at about $7.29 million, and 289,802 shares of 10X Genomics Inc. (TXG), having a value of $2.74 million.

On Tuesday, the ARKW ETF offloaded 108,281 shares of CoreWeave, having a value of over $13 million. Another notable sale was that of 45,690 shares of Palantir Technologies through the ARK Innovation ETF (ARKK), with a value of about $6 million.

Wall Street has a Moderate Buy consensus rating on CoreWeave. While CRWV Bulls are optimistic about AI tailwinds, other analysts are worried about elevated valuation, high debt levels, and profitability. Despite solid growth rates, the consensus rating on Palantir Technologies stock is a Hold, mainly due to valuation concerns.

The average price targets for PLTR and CRWV stocks indicate a downside risk of about 25% and 69%, respectively, from current levels.