In Tuesday’s pre-market trading, the Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), declined 1.72% (as of writing) in reaction to President Donald Trump’s threats to impose new tariffs on some European countries opposing the sale of Greenland to the U.S. Meanwhile, the U.S. stock market was closed on Monday for Martin Luther King Jr. Day.
Claim 50% 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
The QQQ ETF ended 0.08% lower on Friday. Major indexes fell amid geopolitical tensions and Trump’s remarks about the Federal Reserve. Notably, Trump expressed reluctance about nominating Kevin Hassett as the next Federal Reserve chair, sparking uncertainty about the search for the next head of the central bank.
Overall, the QQQ ETF has declined 0.62% over the past five days but is up 18.4% 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 $743.68 for the QQQ ETF implies an upside potential of about 19.7%.
Currently, QQQ’s five holdings with the highest upside potential are:
Meanwhile, its top holdings with the greatest downside potential are:
- Warner Bros. Discovery (WBD)
- Tesla (TSLA)
- Intel (INTC)
- Western Digital Corporation (WDC)
- 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.