On Thursday, July 20, 2023, Cathie Wood's Ark Invest made two trades, one of which was a significant investment in $Taiwan Semiconductor (TSM.US)$.
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 $ARK Autonomous Technology & Robotics ETF (ARKQ.US)$, purchased 28,909 shares of Taiwan Semiconductor (NASDAQ: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.
Other Key Trades:
Ark Invest sold 72,519 shares of $General Motors (GM.US)$ 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.