Invesco NASDAQ 100 ETF Gains Amid Strong Tech Flows

Invesco NASDAQ 100 ETF ( $QQQM ) has risen by 3.83% in the past week. It has experienced a 5-day net inflow of $827.11 million.
This is due, in part, to market sentiment on some of the ETF’s largest holdings. For example:

• Nvidia Corporation remains at the center of the AI trade, but sentiment has turned more cautious as “Big Short” investor Michael Burry expanded his long‑dated put positions, effectively betting on a pullback after the stock’s huge multi‑year rally. At the same time, Nvidia is doubling down on AI infrastructure, investing $2 billion in Lumentum under a multibillion‑dollar supply deal that locks in critical optical components through 2028 and highlights both strong long‑term demand and rising execution risk if bottlenecks emerge.
• Apple Inc is holding up better than many peers in a weak smartphone market, growing Q1 shipments about 5% and securing a leading 21% global share despite memory shortages and geopolitical tensions weighing on demand. Analysts see Apple as relatively insulated thanks to its premium positioning and tight supply chain control, and the stock carries a Moderate Buy rating with consensus targets pointing to mid‑teens percentage upside even as competition from Apple Pay pressures fintech rivals like PayPal.
• Microsoft has fallen roughly 23% year‑to‑date as investors question the pace of returns from roughly $37.5 billion in quarterly AI and data‑center spending and react to slightly slower Azure growth plus new U.K. cloud‑licensing scrutiny. Yet the pullback leaves shares trading near 23x forward earnings, below recent norms, and with a massive $625 billion revenue backlog and a Strong Buy analyst consensus, Wall Street largely views the weakness as a potential entry point despite near‑term AI monetization, competition and regulatory risks.