Cathie Wood bought shares in AMD, Shopify and Intellia Therapeutics on Tuesday.
AMD and Shopify report next week. Analysts see revenue growth of 25% to 30%, with a larger bottom line.
Intellia Pharmaceuticals received a market upgrade this week, driven by its strong balance sheet and compelling corporate value.
Cathie Wood's investment style is bounced back. ARK Invest's co-founder, CEO and investment manager wins again. Her most popular ETF has risen 6% over the past month, in stark contrast to the flat overall market at the time. Her 14% return in the past year doesn't seem that impressive, but it's comfortable in the market.
Wood was busier on the trading floor Tuesday than usual. She added to her existing bets Advanced Micro Devices (NASDAQ: AMD),,,,, Shopping (Nasdaq: Shop)and Intellia Therapuetics (NASDAQ: NTLA) Tuesday. Let's take a closer look at her latest purchase.
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This should be the strongest performance for chipmakers in a long time when AMD improves its first-quarter results next week. Analysts believe revenues rose 30% to $7.1 billion. This will be AMD's year-on-year growth in the past three years and a sharp increase in revenue growth in the fourth consecutive quarter.
This news should be stronger on the bottom line. Those same Wall Street professionals saw earnings per share rise 52%, almost as much as AMD earned last year. This will be the company's record, and the motivation is right around it. AMD has found a way to narrowly define analyst profit targets over the past year.
But despite the improvement of fundamentals, let's not call AMD a winner. Stocks have plummeted 40% over the past year, and the company recently announced it would pay a ban of about $800 million. Chinese MI308X processor. This fee will naturally not be integrated into the financial update, and it will be announced after the market is closed next Tuesday.
AMD's accelerated growth stems from the growing demand for buildings in AI chips and data centers. It is well known that semiconductor stocks are cyclical, but this trend seems to have legs. This will become more optimistic if AMD gets stuck in a trade war, but the stock's discount seems to be Wood's opportunity. The stock trades at 22 times the estimated earnings this year, with a target of only 16 times next year. The pace is getting faster and faster now, so maintaining healthy growth is the key to future growth.
Shopify will follow suit two days after AMD updated its latest investor figures. Operators of popular e-commerce platforms are focusing on another strong quarter of growth, with analysts modeling 25% and 30% growth on the top and bottom lines, respectively. In terms of Shopify, this is the standard for the course. Over the past decade, revenue has increased by more than 20% each year.
Even two years ago, the company was able to keep it going. Analysts believe that revenue will jump to 20% over the next two years. Shopify Arms entrepreneur and established brand with white label e-commerce solutions, the company thrives under the leadership of founder CEO Tobi Lütke.
Despite Shopify's success, it's still an important report. Nearly 12 analysts have cut price targets for top e-commerce companies. As consumer confidence continues to slide, they are worried about the recent darkening of retail trends. Time is still on its side. Since 2006, Shopify has helped businesses sell $1 trillion through its platform. What’s even more impressive is that half of these deals have occurred in the past two years.
Wood is a buyer of gene-edited stocks and she isn't the only one who thinks the price of Intellia Therapeutics is rising today. Wolfe Research's Andy Chen raised the stock to both outperform performance last week and believes the treatments based on CRISPR to treat devastating genetic orders are too low to ignore.
Despite its current market cap approaching $850 million, its strong net cash position still reduces its corporate value to below $200 million. There is a lot of room for upward rise with promising treatments for the brisk enrollment rate in the final clinical phase trials. Chen's price target of $21 suggests that the stock will more than double from here.
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Rick Munarriz has no position in any of the stocks mentioned. Motley fool has a location and recommends advanced micro devices, Intellia Therapeutics and Shopify. Motley Fool has a disclosure policy.
Cathie Wood bargained: 3 shares she just bought were originally published by Motley Fool