The Invesco QQQ ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), was down 0.47% in Monday’s pre-market trading. The decline follows Friday’s session, when the S&P 500 hit an intraday high of 6,945.77 before closing almost flat.
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On Friday, the QQQ ETF was also essentially flat. Concerns about elevated valuations of tech and artificial intelligence (AI) stocks have been impacting investor sentiment.
Overall, the QQQ ETF has risen 0.69% 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 $734.02 for the QQQ ETF implies an upside potential of 17.7%.
Currently, QQQ’s five holdings with the highest upside potential are:
- Strategy (MSTR)
- ARM Holdings (ARM)
- Datadog (DDOG)
- 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)
- Paccar (PCAR)
- Old Dominion Freight Line (ODFL)
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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