Cathie Wood Invests $18 Million in Meta Stock Ahead of Earnings
Cathie Wood, founder of ARK Invest, added $18 million worth of Meta Platforms (META) shares to her portfolio ahead of the company's July 29 earnings report. Despite a year-to-date decline of about 8% and trailing behind its 52-week high by 21%, Wood sees this as an opportunity due to Meta’s strong underlying business performance, particularly in advertising revenue. Meta reported significant growth across key metrics: ad impressions increased by 19%, average price per advertisement rose by 12%, and the Family of Apps segment generated $55.9 billion in Q1 revenue—a 33% year-over-year increase. Additionally, Meta is investing heavily in AI infrastructure with a projected capital expenditure range for 2026 between $125 billion to $145 billion. Wood’s move reflects confidence in the company's ability to maintain profitability and efficiency amid rising AI costs. CEO Mark Zuckerberg emphasized that these investments will position Meta as one of the most efficient companies in building AI compute, potentially offering a competitive edge.
Topics: ARK Invest Cathie Wood Meta Platforms (META) stock purchase