The Invesco QQQ ETF (QQQ) rose 0.78% on Tuesday, driven by a rebound in tech stocks. Investors are looking forward to the Federal Reserve’s interest rate decision on December 10, with markets pricing in an 89% chance of a rate cut.
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In Wednesday’s pre-market trading, the QQQ ETF, which tracks the performance of the Nasdaq 100 Index (NDX), was up 0.18% at the time of writing.
Overall, the QQQ ETF has risen 3.83% over the past five days and is up about 21.2% 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 $719.33 for the QQQ ETF implies an upside potential of about 15.65%.
Currently, QQQ’s five holdings with the highest upside potential are:
- Strategy (MSTR)
- The Trade Desk (TTD)
- Charter Communications (CHTR)
- Atlassian Corporation (TEAM)
- Axon Enterprise (AXON)
Meanwhile, its five holdings with the greatest downside potential are:
Revealingly, QQQ ETF’s Smart Score is seven, implying that this ETF is expected to perform in line with the broader market.
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