ARK's Cathie Wood Avoids Memory Chips on 'Vicious' Cycle Risk

Cathie Wood of ARK Investment Management said the memory-chip sector is prone to "vicious" boom-and-bust cycles, and the problem may worsen as Chinese companies ramp up capacity. ARK is avoiding investments in the sector.

• Wood called memory-chip cycles "vicious"
• Risk grows as Chinese capacity expands
• ARK Investment Management avoids memory sector