Cathie Wood buys $900,000 of surging megacap stock

Cathie Wood, the chief of Ark Investment Management, is known for her active trading strategies around earnings season. She is often seen making moves in the market either before or after companies announce their earnings reports. Recently, Wood made headlines by purchasing shares of a megacap tech firm ahead of its earnings release next week.

In 2025, Wood’s flagship Ark Innovation ETF saw impressive gains of 35.49%, outperforming the S&P 500’s return of 17.88% in the same period. However, year to date, the Ark Innovation ETF (ARKK) is up 1.84%, while the S&P 500 surged 4.27%, according to Yahoo Finance data. Wood’s investment style led to significant returns in 2020 but also resulted in substantial losses in bearish markets, such as in 2022 when the Ark Innovation ETF tumbled over 60%.

Despite her past success, Wood’s long-term gains have been impacted by the ETF’s volatility. As of April 21, the Ark Innovation ETF has delivered a five-year annualized return of -8.52%, while the S&P 500 has an annualized return of 12.73% over the same period, according to Morningstar data.

Wood’s investment focus lies in high-tech companies specializing in artificial intelligence, blockchain, biomedical technology, and robotics. She believes these industries have strong growth potential, although their volatility often leads to fluctuations in Ark’s funds. However, from 2014 to 2024, the Ark Innovation ETF saw a $7 billion loss in investor wealth, making it one of the top wealth destroyers among mutual funds and ETFs.

In a recent Bloomberg podcast, Wood expressed optimism about the global economy, referring to it as a “great acceleration” driven by AI and other breakthrough technologies. She believes that past technological revolutions have reshaped economic growth and anticipates that new innovations could push growth rates much higher in the future.

Wood also highlighted how AI is driving down costs across various industries, making technologies more deflationary. She rejected the notion of an “AI bubble” in a letter published in January, emphasizing the significant capital spending cycle driven by AI, robotics, energy storage, blockchain technology, and multiomics sequencing platforms.

While Wood remains optimistic about the future of technology and innovation, not all investors share her enthusiasm. The Ark Innovation ETF experienced net outflows of approximately $1.12 billion in the 12 months through April 21, according to data from ETF research firm VettaFi.

Despite differing opinions, Wood continues to make strategic investments in the market. On April 21, her Ark Space & Defense Innovation ETF purchased shares of Amazon.com, Inc. (AMZN), reflecting her ongoing commitment to actively manage her investment portfolios. With the market constantly evolving and changing, Cathie Wood’s investment decisions are closely watched by investors and analysts alike for insights into the future of technology and innovation. Amazon, the e-commerce giant, is gearing up to release its first quarter earnings for 2026 on April 29th. In the fourth quarter of 2025, Amazon Web Services (AWS) saw a 24% increase in sales, reaching $35.6 billion, marking the fastest growth in 13 quarters. AWS also contributed $12.5 billion in operating income, accounting for half of the company’s total earnings.

Bank of America has raised its price target for Amazon stock to $298 from $275 ahead of the earnings report, with a buy rating on Amazon shares. Analysts believe that Amazon is well-positioned to benefit from the growing demand for AI capabilities, particularly within the corporate sector.

Amazon recently announced plans to invest up to $25 billion in Anthropic as part of an expanded agreement to enhance its AI infrastructure. This follows a $50 billion investment in OpenAI, one of Anthropic’s biggest competitors. Amazon CEO Andy Jassy stated that the company expects to invest around $200 billion in capital expenditures in 2026, primarily focused on AI infrastructure.

In terms of stock holdings, Amazon is not a top 10 holding in either the Ark Space & Defense Innovation ETF or the Ark Innovation ETF. However, Cathie Wood, a prominent investor, has recently made moves such as buying shares of Kratos Defense & Security Solutions and DoorDash while selling shares of Iridium Communications.

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