The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), traded near the flatline on Wednesday, at the time of writing, as investors digested a higher-than-expected wholesale inflation reading for April. Meanwhile, Nvidia (NVDA) stock and shares of other chip companies trended higher after CEO Jensen Huang joined President Donald Trump on his trip to China to meet President Xi Jinping.
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Trade QQQ with leverageOn Tuesday, QQQ declined 0.85% on a hot Consumer Price Index (CPI) reading for April.
Overall, the QQQ ETF has gained 4.96% in the past five trading sessions and 40.5% year-to-date.
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 $802.37 for the QQQ ETF implies an upside potential of about 13.3%.
Currently, QQQ’s five holdings with the highest upside potential are:
- Insmed (INSM)
- Strategy (MSTR)
- Charter Communications (CHTR)
- Axon Enterprise (AXON)
- Thomson Reuters (TRI)
Currently, QQQ’s top holdings with the highest downside potential are:
- Intel (INTC)
- Micron Technology (MU)
- Marvell Technology (MRVL)
- Qualcomm (QCOM)
- CrowdStrike Holdings (CRWD)
Revealingly, the QQQ ETF’s Smart Score is seven, implying that this ETF is expected to perform in line with the broader market.