Key HighlightsOn August 28, ARK Invest divested 156,286 AMD shares valued at $74.5 millionThe fund acquired 243,707 Nvidia shares valued between $53-55.6 million following a post-earnings declineARK accumulated 55,131 Broadcom shares worth $20.5 million in anticipation of September 3 earningsNvidia delivered Q2 revenue of $96.2 billion, representing 106% year-over-year growth, with Q3 projections at $108 billionThe Ark Innovation ETF experienced net redemptions of $2.09 billion during the trailing 12-month periodOn August 28, Cathie Wood’s ARK Invest executed a significant rebalancing of its semiconductor holdings, divesting $74.5 million in Advanced Micro Devices shares while simultaneously establishing positions in both Nvidia and Broadcom.The investment firm liquidated 156,286 AMD shares distributed across its various exchange-traded funds. This transaction represented ARK’s second consecutive day of AMD reduction, having previously sold approximately 37,977 shares valued at $18.26 million on August 27. Despite these sales, AMD stock has climbed 117.4% since the beginning of the year.Advanced Micro Devices, Inc., AMDARK Accumulates Nvidia Following Post-Earnings CorrectionARK purchased 243,707 Nvidia shares, representing approximately $53 million in value calculated at the August 28 closing price of $217.55. This acquisition occurred one trading session after Nvidia experienced an 8.9% surge on robust quarterly results, subsequently retreating 4.5%.The chipmaker disclosed fiscal second-quarter revenue reaching $96.2 billion, marking a 106% increase compared to the prior-year period. Adjusted earnings per share totaled $2.22, surpassing analyst expectations of $2.10.Management provided third-quarter revenue guidance of approximately $108 billion, exceeding the consensus estimate of $104.19 billion from Wall Street analysts. Nvidia’s chief financial officer indicated the company anticipates roughly 70% revenue expansion through fiscal 2028.Following the earnings release, multiple Wall Street analysts elevated their price objectives. JPMorgan increased its target from $280 to $320. Bank of America maintained its buy recommendation with a $350 price target, designating Nvidia as a preferred selection. Melius Research established the Street’s highest target at $420.Nvidia shares have appreciated approximately 16.6% year to date.Strategic Broadcom Purchase Precedes Quarterly ResultsARK simultaneously acquired 55,131 Broadcom shares totaling $20.5 million in value. This transaction followed an earlier Broadcom purchase executed during the same week.Broadcom is scheduled to announce its fiscal third-quarter financial performance after trading concludes on September 3. Analyst consensus projects revenue of $29.24 billion, reflecting 83.3% year-over-year expansion, alongside adjusted earnings per share of $3.21.Benchmark analyst Cody Acree maintained his buy rating and $545 price objective on Broadcom shares. He observed that the stock currently trades at the lower end of its artificial intelligence peer group based on valuation metrics and characterized it as an improved opportunity following a 13% decline after its second-quarter announcement.Broadcom stock has gained 6.6% year to date.Wood continues to express conviction regarding artificial intelligence’s contribution to enhanced corporate profitability and operational efficiency. She has articulated that organizations embracing AI technology will distinguish themselves from competitors who remain hesitant.Notwithstanding this bullish outlook, the Ark Innovation ETF has generated a five-year annualized return of -6.91% through August 28, substantially underperforming the S&P 500’s 11.33% gain. The fund experienced approximately $2.09 billion in net outflows throughout the preceding 12-month period.The flagship Ark Innovation ETF has advanced 9.97% year to date, lagging the S&P 500’s 12.65% appreciation during the identical timeframe.The post ARK Invest Exits AMD Position, Doubles Down on Nvidia (NVDA) and Broadcom (AVGO) appeared first on Blockonomi.