The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), was down 0.29% on Monday morning, at the time of writing, as investors closely watched developments in the Middle East, oil prices, and bond yields. Moreover, investors await earnings from chip giant Nvidia and major U.S. retailers this week.
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On Friday, QQQ fell 1.5% as the U.S. 30-year Treasury bond yield rose to its highest level in around a year, dragging down technology stocks.
Overall, the QQQ ETF is in the red over the past five trading sessions but has risen more than 35% 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 $806.43 for the QQQ ETF implies an upside potential of about 14%.
Currently, QQQ’s five holdings with the highest upside potential are:
- Insmed (INSM)
- Strategy (MSTR)
- Charter Communications (CHTR)
- Thomson Reuters (TRI)
- Axon Enterprise (AXON)
Currently, QQQ’s top holdings with the highest downside potential are:
- Intel (INTC)
- Marvell Technology (MRVL)
- CrowdStrike Holdings (CRWD)
- Micron Technology (MU)
- Fortinet (FTNT)
Revealingly, the QQQ ETF’s Smart Score is seven, implying that this ETF is expected to perform in line with the broader market.