The Invesco QQQ ETF (QQQ) rose 0.81% on Friday, with major indices ending the last trading session of November on a positive note. However, November was a choppy month due to concerns about the elevated valuations of artificial intelligence (AI) stocks.
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In Monday’s pre-market trading, the QQQ ETF, which tracks the performance of the Nasdaq 100 Index (NDX), was down 0.90%. Several tech stocks and Bitcoin (BTC-USD) were trending lower at the time of writing.
Overall, the QQQ ETF has risen 3.33% over the past five days and is up about 21.6% 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 Moderate Buy. The Street’s average price target of $723.68 for the QQQ ETF implies an upside potential of about 17%.
Currently, QQQ’s five holdings with the highest upside potential are:
- Strategy (MSTR)
- The Trade Desk (TTD)
- Atlassian Corporation (TEAM)
- Charter Communications (CHTR)
- Axon Enterprise (AXON)
Meanwhile, its five holdings with the greatest downside potential are:
- Intel (INTC)
- Tesla (TSLA)
- Warner Bros. Discovery (WBD)
- Amgen (AMGN)
- Regeneron Pharmaceuticals (REGN)
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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