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Cathie Wood, head of Ark Investment Management, usually buys the dip during market selloffs. But last week, she shifted course, selling large chunks of major tech names amid the market downturn caused by the U.S.-Iran war.<\/p>\n
Last year, the flagship Ark Innovation ETF gained 35.49%, far outpacing the S&P 500\u2019s return of 17.88% in the same period. But as of March 30, Wood\u2019s flagship Ark Innovation ETF (ARKK) was down roughly 18.4% year to date, while the S&P 500 dropped 7.3%.<\/p>\n
Wood gained a reputation after the Ark Innovation ETF delivered a 153% return in 2020. But her style also brings painful losses in bearish markets, as seen in 2022, when the Ark Innovation ETF tumbled more than 60%.<\/p>\n
Those swings have weighed on Wood\u2019s long-term gains. As of March 27, the Ark Innovation ETF has delivered a five-year annualized return of -10.6%, while the S&P 500 has an annualized return of 11.5% over the same period, according to data from Morningstar.<\/p>\n
Cathie Wood expects a \u201cgreat acceleration\u201d<\/p>\n
Wood focuses on high-tech companies across artificial intelligence, blockchain, biomedical technology, and robotics. She thinks these businesses have great growth potential, though their volatility often brings fluctuations to the Ark\u2019s funds.<\/p>\n
From 2014 to 2024, the Ark Innovation ETF wiped out $7 billion in investor wealth, according to an analysis by Morningstar\u2019s analyst Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott\u2019s ranking. The analyst hasn\u2019t updated the 2025 ranking.<\/p>\n
In the 12 months through March 27, the Ark Innovation ETF saw roughly $1.35 billion in net outflows.<\/p>\n
Getty Images<\/p>\n
In a recent Bloomberg podcast, Wood says the global economy is not heading into a downturn, but into what she calls a \u201cgreat acceleration\u201d driven by AI and other breakthrough technologies.<\/p>\n
\u201cWe\u2019re not going into the Great Depression, we\u2019re going into the great acceleration,\u201d Wood said, pointing to how past technological revolutions reshaped economic growth.<\/p>\n
She noted that global real GDP growth averaged just 0.6% between 1500 and 1900, before the Industrial Revolution lifted it to around 3% for more than a century. Now, she argues, a new wave of innovation could push growth much higher.<\/p>\n
\u201cWe think [technologies] are going to take growth into the 7 to 8% range,\u201d Wood said, adding that the number may actually be conservative.<\/p>\n
Wood also emphasized that AI is rapidly driving down costs across industries.<\/p>\n
Related: Cathie Wood sells $2.1 million of megacap tech stock<\/p>\n
\u201cThese technologies are deflationary,\u201d she said. \u201cAI training costs are dropping 75% per year, and inference costs are falling as much as 85% to even 98% annually.\u201d<\/p>\n
In a letter published in January, Wood rejects the \u201cAI bubble\u201d talk, saying it “is years away” and “the most powerful capital spending cycle in history” is coming.<\/p>\n
“What once was the cap in spending seems to have become a floor now that the AI, robotics, energy storage, blockchain technology, and multiomics sequencing platforms are ready for prime time,” she said.<\/p>\n
Not all investors agree with Wood\u2019s optimism. In the 12 months through March 27, the Ark Innovation ETF saw roughly $1.35 billion in net outflows, according to ETF research firm VettaFi.\u00a0<\/p>\n
Cathie Wood sells $36 million of Nvidia stock<\/p>\n
On March 26 and 27, Wood\u2019s Ark funds sold a total of 213,560 shares of Nvidia (NVDA), valued at about $36 million, Ark\u2019s daily trade information shows. This was among her largest recent sales.\u00a0<\/p>\n
Wood also sold 57,371 Advanced Micro Devices (AMD) shares worth about $12 million.<\/p>\n
Semiconductor stocks have dropped about 7% over the past week and roughly 11% year to date, as tracked by the iShares Semiconductor ETF (SOXX).<\/p>\n
The sector has struggled amid rising inflation concerns tied to higher energy prices, escalating geopolitical tensions in the Middle East, and a recent increase in U.S. Treasury yields, all of which have weighed on risk appetite and high-valuation tech names.<\/p>\n
Related: Morgan Stanley sends clear message on semiconductor stocks after selloff<\/p>\n
Over the past month, Nvidia stock has dropped by 6.8%, while AMD shares have fallen by 2%.<\/p>\n
Still, Nvidia\u2019s stock has held up better than most megacap tech peers this year, second only to Apple (AAPL).<\/p>\n
Shares of Nvidia are down about 11.4% year to date, compared with steeper declines across the group, including Microsoft (MSFT) down 25.8%, Tesla (TSLA) down 21.0%, and Meta Platforms (META) down 18.7%. Apple is down 9.3% over the same period.<\/p>\n
Nvidia remains the leader of the AI boom. In February, the company reported better-than-expected fiscal fourth-quarter results and issued upbeat forecasts on strong AI demand.<\/p>\n
Adjusted earnings for the quarter came at $1.62 a share, beating estimates of $1.53. Revenue reached $68.13 billion, up 73% from a year ago and surpassing the $66.21 billion expected by analysts polled by LSEG.\u00a0<\/p>\n
“Enterprise adoption of agents is skyrocketing. Our customers are racing to invest in AI compute \u2014 the factories powering the AI industrial revolution and their future growth,” said Nvidia’s CEO Jensen Huang in a press release.\u00a0<\/p>\n
For several months, software stocks have fallen as investors worry AI could squeeze their profit margins. Similar concerns could also hit hardware companies like Nvidia, said Dennis Dick, a proprietary trader at Triple D Trading, Reuters reported.<\/p>\n
\u201cAll \u200ctechnology, no matter what, including Nvidia, could potentially be disrupted, and that\u2019s the risk factor right now,\u201d said Dick. \u201dEverything\u2019s running on Nvidia chips, but that doesn\u2019t mean it\u2019s going to be that way in two or three years.\u201d<\/p>\n
Nvidia is not in the top 10 holdings of Wood\u2019s Ark Innovation ETF, while AMD currently accounts for 4.13% of the fund, ranking as the 9th holding.<\/p>\n
Top 10 holdings of the Ark Innovation ETF as of March 30, 2026:Tesla (TSLA) 10.62%CRISPR Therapeutics (CRSP) 6.27%Tempus AI (TEM) 4.83%Shopify (SHOP) 4.75%Circle Internet Group (CRCL) 4.65%Coinbase Global (COIN) 4.27%Robinhood Markets (HOOD) 4.27%Advanced Micro Devices (AMD) 4.13%Roku (ROKU) 3.85%Palantir Technologies (PLTR) 3.67%<\/p>\n
Besides Nvidia and AMD, Wood also trimmed stakes in Meta Platforms, Taiwan Semiconductor Manufacturing Company (TSM), Broadcom (AVGO), Alphabet (GOOGL), and Netflix (NFLX) last week.<\/p>\n
Related: JPMorgan delivers blunt message on interest rate cuts<\/p>\n
#Cathie #Wood #sells #million #megacap #tech #stock<\/p>\n","protected":false},"excerpt":{"rendered":"
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