How is QQQ stock faring? The Invesco QQQ ETF has risen 2.81% over the past five days and is up about 24.8% 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 1.53% on Thursday, due to concerns about elevated artificial intelligence (AI) spending following earnings reports from Meta Platforms (META) and Microsoft (MSFT).
In Friday’s pre-market trading, the QQQ ETF was up 1.28%, thanks to upbeat results from Amazon (AMZN) and Apple (AAPL).
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 $688.97 for the QQQ ETF implies an upside potential of 10.05%.
Currently, QQQ’s five holdings with the highest upside potential are Strategy (MSTR), Atlassian Corporation (TEAM), Verisk Analytics (VRSK), Charter Communications (CHTR), and Dexcom (DXCM).
Meanwhile, its five holdings with the greatest downside potential are Palantir Technologies (PLTR), Tesla (TSLA), Intel (INTC), KLA Corporation (KLAC), 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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