Money manager Cathie Wood, the CEO of ARK Investment Management, has raised concerns about a potential market correction in the semiconductor sector.
What Happened: In an interview with Bloomberg Businessweek Radio on Friday, Wood pointed out that the semiconductor industry might face a market correction due to improvements in the supply chain.
"The one place we could see a correction — and it's just a correction, we're not calling it the end of this at all — is in the chip space," she said.
Despite being among the top-performing stocks this year, Wood highlighted that the semiconductor stocks, including Nvidia Corporation (NASDAQ:NVDA), could be at risk.
Nvidia’s shares have surged by approximately 80% this year, following a 240% increase in 2023. Wood, who initially invested in Nvidia in 2014, mostly divested her position before the ...