The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), was up 0.34% in Friday’s pre-market trading. Investors await the release of January’s personal consumption expenditures (PCE) price index, the Federal Reserve’s preferred inflation measure, due this morning.
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Forget margin or options. Here's how the pros trade QQQOn Thursday, the QQQ ETF fell 1.72% amid fears that a prolonged war and surging oil prices would impact economic growth.
Overall, the QQQ ETF has declined 1.53% over the past five days, but is up about 27.5% 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 $767.04 for the QQQ ETF implies an upside potential of about 28.4%.
Currently, QQQ’s five holdings with the highest upside potential are:
Meanwhile, its top holding with the greatest downside potential is:
- Amgen (AMGN)
Revealingly, QQQ ETF’s Smart Score is seven, implying that this ETF is expected to perform in line with the broader market.