The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), was up 0.63% in Friday’s pre-market trading. This recovery follows a massive selloff in technology stocks on Thursday amid concerns about valuations of artificial intelligence (AI) plays.
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Trade APP with leverageOn Thursday, the QQQ ETF plunged 1.44% amid continued pressure on tech stocks.
Overall, the QQQ ETF has declined 6.04% over the past five days but is up 14.4% 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 $764.81 for the QQQ ETF implies an upside potential of 28.1%.
Currently, QQQ’s five holdings with the highest upside potential are:
Meanwhile, its top holdings with the greatest downside potential are:
- Old Dominion Freight Line (ODFL)
- Gilead Sciences (GILD)
- Warner Bros. Discovery (WBD)
- Fastenal (FAST)
- Paccar (PCAR)
Revealingly, QQQ ETF’s Smart Score is seven, implying that this ETF is expected to be in line with the broader market.