<div id="readability-page-1"><div><div>ARK Invest founder Cathie Wood continues to back Elon Musk’s Tesla Inc. TSLA and highlights Apple Inc.’s AAPL woes.Check out the current price of TSLA stock here.What Happened: Wood has been backing Tesla since 2016. Currently, Tesla CEO Musk has been engaged in a war of words with President Donald Trump and recently announced the America Party, which has made Tesla investors worry.However, Wood has brushed off the headlines, saying she's seen Musk weather storms before, as per a Bloomberg TV interview, via The Street.&#34;We've been dealing with controversy around Elon Musk in one form or another since we first bought the stock,&#34; Wood said to Bloomberg TV.Wood remains steadfast in her belief in Tesla, undeterred by its recent struggles. She's sticking to her bold $2,600 price target for the next five years, pointing to the growth potential of Robotaxis and the Optimus humanoid robot as key drivers of Tesla's future.Tesla accounts for approximately 8.5% of ARK’s portfolio, valued at over $840 million.On the other hand, Wood has completely exited her position in Apple, citing the company’s slower growth and lack of significant disruption as reasons for the move.During the interview, she also raised concerns about Apple’s AI strategy, pointing to the unexpected departure of Ruoming Pang, Apple’s top AI executive, to Meta Platforms Inc. META.Why It Matters: Wood’s latest statement follows her praise for Tesla as the “largest AI project on earth” and her declaration of Musk as the “most productive human being on earth.”On Wednesday, it was reported that major investors in Tesla had urged the company's Board of Directors to hold the annual shareholders meeting as tensions escalated between Musk and Trump. The company’s board has set the meeting for Nov. 6th.Meanwhile, Apple’s AI struggles have been a topic of discussion for some time. Despite poaching Google’s AI chief John Giannandrea in 2018, Apple has struggled to catch up in the AI race.<ul> <li>‘Dogecoin Killer’ Shiba Inu Soars 7% As Burn Rate Explodes By 1,500%</li> </ul>Photo courtesy: VTT Studio / Shutterstock.com</div></div></div>

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Cathie Wood, founder of ARK Invest, continues to support Tesla amid investor concerns over Elon Musk's political activities. Wood, who has backed Tesla since 2016, maintains a $2,600 price target, citing the potential of Robotaxis and the Optimus robot. Tesla constitutes about 8.5% of ARK's portfolio, valued at over $840 million. In contrast, Wood has exited her position in Apple due to its slower growth and AI strategy issues. Tesla's annual shareholders meeting is set for Nov. 6, as tensions rise between Musk and Trump.

- Cathie Wood, founder of ARK Invest, continues to support Tesla Inc. despite recent controversies involving CEO Elon Musk and his political engagements.  
- Wood maintains a $2,600 price target for Tesla, emphasizing its growth potential through innovations like Robotaxis and the Optimus robot, while Tesla constitutes about 8.5% of ARK’s portfolio.  
- Conversely, she has exited her position in Apple due to concerns over its slower growth and AI strategy, particularly following the departure of a key AI executive.  

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Cathie Wood Continues To Back Tesla As Investors Panic Amid Elon Musk's Return To Politics: Calls Robotaxi Bet A Trillion-Dollar Opportunity