Cathie Wood shifts focus from chipmakers to Amazon, adding $71.5 million while trimming AMD stake

Cathie Wood, founder of ARK Invest, increased her Amazon stake by 280,450 shares on Friday, a trade worth roughly $71.5 million, marking her second major purchase of the week. Simultaneously, she sold about $65.8 million worth of AMD shares on Friday after offloading around $10.5 million earlier.

Wood is shifting toward "platform" companies like Amazon that can leverage AI for long-term profit growth, moving away from chipmakers that led the AI market through 2025. Amazon stock has surged more than 15% year-to-date and reached an all-time high of $263.99 as of April 24, 2026.

Wall Street maintains a Strong Buy consensus on Amazon with 42 Buys and three Holds, giving an average price target of $287.33 that indicates 8.8% upside potential. For Q1 FY26 (reporting April 29), analysts project revenue to rise about 14% to $177.27 billion and earnings per share of $1.63, reflecting 2.5% year-over-year growth.