Ark Invest's Cathie Wood Just Sold AMD Stock and Bought SpaceX. Why I'd Be Doing the Opposite.

Cathie Wood's Ark Innovation ETF has been selling AMD and buying SpaceX, but analyst Geoffrey Seiler argues this is the wrong move. SpaceX trades at extreme valuations (P/S ratio over 85x) with significant technological hurdles ahead and upcoming share dilution from lock-up expirations. AMD, meanwhile, is positioned to benefit from powerful trends in AI inference and agentic AI, with secured GPU deals and strong CPU demand driving near-term growth.