Cathie Wood's ARK Invest just made some interesting moves on April 20 – dumped a massive position in Iridium Communications (81k shares, $3.4M) but loaded up on Kratos Defense and Amazon ahead of earnings. The timing on Amazon is pretty telling, honestly.



So Cathie Wood's team bought nearly 3,500 shares of Amazon for roughly $875k right before Q1 earnings dropped on April 29. AWS growth is the main story here – analysts are expecting around 25-30% growth, and the agentic AI demand is pushing more traffic to their cloud services. Ad business is also firing on all cylinders, up 24% YoY. Bank of America bumped their target to $298, and KeyBanc went even higher at $325.

On the flip side, ARK trimmed Twist Bioscience again (30k shares this round after already selling 67k the Friday before). The Iridium dump though? That's the real signal – looks like Cathie Wood is rotating out of satellite comms and into defense tech. Kratos Defense picked up 24k shares through ARKX, and they also added DoorDash for $850k. Stock's up 7.6% YTD and 48% over the past year. Analysts have Amazon at Strong Buy with an average target around $286.

Makes sense that Cathie Wood is positioned for AWS upside and AI infrastructure plays. Curious if this is a longer-term bet or just tactical ahead of earnings.
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