Indexes were mixed after initial jobless claims on Thursday. Nvidia fell amid reports that CEO Huang plans to sell some stock.
Dubbed the Magnificent Seven stocks, Apple, Microsoft, Google parent Alphabet, Amazon, Nvidia, Meta Platforms and Tesla lived up to their name in 2023 with big gains. But the middle part of the second quarter of 2024 showed a big divergence of returns.
Cathie Wood of Ark Investment Management remains confident in her firm's AI investments despite scaling back on Nvidia Corp (NASDAQ:NVDA) shares prior to their significant rise last year. Speaking at the Greenwich Economic Forum in Hong Kong, Wood emphasized Ark's continued exposure to emerging tech players, even though Nvidia remains a part of their specialized portfolios. Wood noted that she initially invested in Nvidia in 2014 when the stock was approximately $4 per share, adjusted for splits