The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), declined 1.07% on Wednesday amid pressure on technology stocks.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Meanwhile, QQQ was up 0.87% in Thursday’s pre-market trading, as stocks tried to recover after continued sessions in the red.
Overall, the QQQ ETF has risen 0.03% over the past five days and is up about 1.94% in the past year.
QQQ’s Key Holdings with Highest Upside/Downside Potential
According to TipRanks’ unique ETF analyst consensus, which is based on a weighted average of analyst ratings on its holdings, QQQ is a Moderate Buy. The Street’s average price target of $749.87 for the QQQ ETF implies an upside potential of about 21%.
Currently, QQQ’s five holdings with the highest upside potential are:
- Strategy (MSTR)
- Atlassian Corporation (TEAM)
- Datadog (DDOG)
- Arm Holdings (ARM)
- Thomson Reuters (TRI)
Meanwhile, its top holdings with the greatest downside potential are:
- Intel (INTC)
- Western Digital Corporation (WDC)
- Warner Bros. Discovery (WBD)
- Tesla (TSLA)
- Old Dominion Freight (ODFL)
Revealingly, QQQ ETF’s Smart Score is eight, implying that this ETF is expected to outperform the broader market over the long term.
Power up your ETF investing with TipRanks. Discover the Best AI ETFs, carefully curated based on TipRanks’ analysis.