Cathie Wood's Alphabet Bet Pays Off

0:00It's April 30th. This is Durham News Today, local news powered by AI. Kathy Wood from our investment just nailed a big trade, scooping up about $14.1 million worth of Alphabet shares on April 28th, right before their earnings drop. The stock jumped after Alphabet crushed estimates with earnings per share at $5.11 versus $2.62 expected in revenue, hitting 109.9 billion of 20% year over year. Google Cloud led the charge at $20.02 billion. ARC's flagship innovation ETF has seen wild rides of 153% in 2020, but down over 60% in 20. 22. Last year it gained 35.49%, beating the S&P 517.88, but this year it's all 5.57% while the index is up 4.24. For five years, it's annualized at minus 9.44% against the S&P's 12.75.

1:02Investors know Wood bets big on AI, blockchain, biotech, and robotics chasing explosive growth despite the bumps. She's calling for a great acceleration in the economy, not a slowdown, with text lashing costs like AI training down 75% yearly, and pushing global growth towards 7 or 8%. Lately, her funds pulled in $211.63 million in net inflows that week, and $376.85 million over the month. She's also grabbing shares in CoreWeave, Intelio Therapeutics, Kratos Defense, Spotify, and more Robinhood, while trimming Roku and others. Alphabet's not even a top 10 holding. Analysts like those as cities stayed bullish, bumping their price target to $405 on Alphabet's cloud momentum. It's playing the long game on this tech boom, and for now, that Alphabet bets looking sharp.