The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), was up 0.44% in Wednesday’s pre-market as investors awaited minutes of the Federal Reserve’s January meeting.
Claim 30% Off TipRanks
New trading tool for QQQ bullsMeanwhile, the QQQ ETF declined 0.10% on Tuesday as software stocks remained under pressure amid concerns about a potential artificial intelligence (AI)-driven disruption.
Overall, the QQQ ETF has declined 0.99% over the past five days, but is up 11.6% over 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 Strong Buy. The Street’s average price target of $749.04 for the QQQ ETF implies an upside potential of 24.6%.
Currently, QQQ’s five holdings with the highest upside potential are:
Meanwhile, its top holdings with the greatest downside potential are:
Revealingly, QQQ ETF’s Smart Score is seven, implying that this ETF is expected to be in line with the broader market.
Power up your ETF investing with TipRanks. Discover the Best AI ETFs, carefully curated based on TipRanks’ analysis.