ARKQ - Is This AI and Robotics Chip Stock a Buy Now?
2023-07-25 06:34:00 ET
Famed disruptive growth investor Cathie Wood, founder and CEO of Ark Invest, has made a name for herself as one of the most bullish voices on Wall Street. Despite this reputation, Wood and company dumped its holding in Nvidia early this year -- at exactly the wrong time. Nvidia has since provided a financial outlook that includes billions of extra artificial intelligence (AI) revenue in a single quarter .
Among other things, one Ark ETF, the ARK Autonomous Technology & Robotics ETF (NYSEMKT: ARKQ) , has been scooping up shares of Teradyne (NASDAQ: TER) instead. What is Teradyne, and is it really a buy?
Aside from its notoriety among a few Ark Invest fans, few investors have heard of Teradyne. That's because Teradyne is a behind-the-scenes equipment maker. Its bread and butter are machines used by semiconductor fabs (facilities that manufacture chips) to automate the testing of chips and computing systems.
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Is This AI and Robotics Chip Stock a Buy Now?