The Invesco QQQ ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), gained 0.10% on Wednesday. Major indices ended mixed yesterday. The Dow Jones Industrial Average (DJIA) and S&P 500 (SPX) fell while the Nasdaq Composite rose 0.16%, boosted by a 2.4% surge in Alphabet (GOOGL) stock. Notably, Alphabet’s market cap surpassed Apple’s (AAPL) market cap for the first time since 2019.
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Meanwhile, QQQ was down 0.27% in Thursday’s pre-market trading amid geopolitical tensions.
Overall, the QQQ ETF has risen 0.59% over the past five days and is up about 21% in 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 Moderate Buy. The Street’s average price target of $735.97 for the QQQ ETF implies an upside potential of 18%.
Currently, QQQ’s five holdings with the highest upside potential are:
- Strategy (MSTR)
- Thomson Reuters (TRI)
- Arm Holdings (ARM)
- Datadog (DDOG)
- Atlassian Corporation (TEAM)
Meanwhile, its top holdings with the greatest downside potential are:
Revealingly, QQQ ETF’s Smart Score is eight, implying that this ETF is expected to outperform the broader market over the long term.
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