The Invesco QQQ ETF (QQQ) rose 1.45% on Thursday, thanks to a lighter-than-expected November inflation reading, reflected by the consumer price index (CPI) report, and gains in the prominent tech stocks.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
In Friday’s pre-market trading, the QQQ ETF, which tracks the performance of the Nasdaq 100 Index (NDX), was up 0.39% as the favorable inflation data continued to move stocks higher.
Overall, the QQQ ETF has declined 2.24% over the past five days, but is up about 18% 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 $727.77 for the QQQ ETF implies an upside potential of 19.5%.
Currently, QQQ’s five holdings with the highest upside potential are:
Meanwhile, its five holdings with the greatest downside potential are:
- Tesla (TSLA)
- Warner Bros. Discovery (WBD)
- Lululemon Athletica (LULU)
- Paccar (PCAR)
- Marriott International (MAR)
Revealingly, QQQ ETF’s Smart Score is seven, implying that this ETF is expected to perform in line with the broader market.
Power up your ETF investing with TipRanks. Discover the Best AI ETFs, carefully curated based on TipRanks’ analysis.