On Thursday, July 20, 2023, Cathie Wood’s Ark Invest made two trades, one of which was a significant investment in Taiwan Semiconductor Mfg. Co. Ltd. TSM.
This move comes in the wake of the company’s recent Q2 earnings report and amidst a broader focus on AI technologies.
The Taiwan Semiconductor Trade
Ark Invest, through its ARK Autonomous Technology & Robotics ETF ARKQ, purchased 28,909 shares of Taiwan Semiconductor TSM. The transaction was valued at $2.83 million, based on TSM’s Thursday closing price of $97.86.
This move comes after the company’s Q2 earnings report showed a year-on-year revenue decline of 13.7% to $15.68 billion, beating the consensus of $15.49 billion.
Despite the decline, the company’s EPS of $1.14 beat the consensus of $1.08.
See Also: What’s Going On With NXP Semiconductors And Taiwan Semiconductor Stocks Thursday
Other Key Trades:
- Ark Invest sold 72,519 shares of General Motors Co GM through ARKQ.
These trades reflect Ark Invest’s continued focus on AI and technology companies, as well as their strategic responses to recent market developments.
Read Next: Cathie Wood Calls Nvidia An Incredible AI Play But Explains Why She Prefers This AI Stock
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