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Cathie Wood's investment firm reshuffled its tech holdings on April 22, doubling down on chipmakers Nvidia (NVDA, Financials) and Advanced Micro Devices (AMD, Financials), while offloading a sizable stake in Microsoft (MSFT, Financials) and increasing its position in Airbnb (ABNB, Financials).
The firm picked up 11,000 shares of Nvidia worth $1.09 million. The stock is down more than 26% this year, hit by U.S. export restrictions on its AI chips to China. Still, analysts expect a strong rebound, with price targets implying about 70% upside.
AMD was another target, with 24,800 shares purchased for roughly $2.14 million. Like Nvidia, AMD has been dragged down by geopolitical tensions, falling nearly 29% year-to-date. Analyst projections see potential gains of over 60%.
On the sell side, Wood exited 26,405 shares of Microsoft, valued at $9.7 million. The move comes after Microsoft paused its global data center expansion, prompting concerns about short-term demand for AI infrastructure. The stock is down nearly 13% this year but retains long-term support from analysts.
Airbnb was the firm's biggest buy of the day, with 80,361 shares added ahead of its earnings release next week. The $9.23 million purchase signals confidence, even as the stock remains down 13% in 2025. Analysts remain cautious, though price targets suggest a potential 33% upside.
Among these trades, Nvidia and Microsoft still carry the strongest analyst ratingsNvidia standing out for its high upside despite regulatory risks.
This article first appeared on GuruFocus.