How is QQQ stock faring? The Invesco QQQ ETF has declined 1.53% over the past five days and is up 18.2% year-to-date.
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What Moved the QQQ ETF?
The QQQ ETF, which tracks the performance of the Nasdaq 100 Index (NDX), fell 0.67% on Tuesday amid a volatile trading session for the broader market due to the escalating U.S.-China trade war.
However, the QQQ ETF was up 0.82% in Wednesday’s pre-market trading, as investors looked beyond the trade tensions to focus on rate-cut bets and the September quarter earnings season.
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 $682.84 for the QQQ ETF implies an upside potential of about 14.2%.
Currently, QQQ’s five holdings with the highest upside potential are Strategy (MSTR), Atlassian Corporation (TEAM), Dexcom (DXCM), Charter Communications (CHTR), and Adobe Systems (ADBE).
Meanwhile, its five holdings with the greatest downside potential are Intel (INTC), Tesla (TSLA), Palantir Technologies (PLTR), Lam Research (LRCX), and Applied Materials (AMAT).
Revealingly, QQQ ETF’s Smart Score is eight, implying that this ETF is likely to outperform the broader market.
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