The Invesco QQQ ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), was hovering near the flatline on Friday morning after markets reopened following the Christmas holiday.
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On Wednesday, the QQQ ETF gained 0.29% amid strength in the broader market. The stock market closed early on Wednesday for Christmas Eve and was closed on Thursday for Christmas. The rise in major indices on Wednesday was driven by a rebound in several tech and artificial intelligence (AI) stocks following the recent selloff sparked by concerns over elevated valuations and high capital spending.
Overall, the QQQ ETF has risen 1.74% over the past five days and is up about 22.7% 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 $731.44 for the QQQ ETF implies an upside potential of 17.2%.
Currently, QQQ’s five holdings with the highest upside potential are:
- Strategy (MSTR)
- Datadog (DDOG)
- ARM Holdings (ARM)
- Atlassian Corporation (TEAM)
- Thomson Reuters (TRI)
Meanwhile, its five holdings with the greatest downside potential are:
- Tesla (TSLA)
- Warner Bros. Discovery (WBD)
- Marriott International (MAR)
- Palantir Technologies (PLTR)
- Paccar (PCAR)
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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