Invesco NASDAQ 100 ETF Sees Outflows Amid AI Volatility

Invesco NASDAQ 100 ETF ( $QQQM ) has risen by 0.97% in the past week. It has experienced a 5-day net outflow of $75.69 million.
This is due, in part, to market sentiment on some of the ETF’s largest holdings. For example:

• Nvidia Corporation had a volatile week: its shares slid after record Q4 revenue of $68.1 billion and a strong outlook raised worries about AI spending durability, high valuation, export curbs to China, and rising competition from custom chips at Amazon and Google. Yet Wall Street still sees NVDA as a core AI play, backing new inference-focused processors, government and OpenAI demand, and forecasting hefty upside despite short‑term profit‑taking.
• Apple Inc is emerging as a relative winner in a shrinking smartphone market, with IDC expecting low-end Android vendors to be squeezed while Apple’s premium brand and solid balance sheet help it gain share even as average handset prices jump. Investors are watching its push into AI Companions and a more personal Siri, which J.P. Morgan estimates could add around $25 billion in hardware revenue and lift earnings, supporting a Moderate Buy rating and mid-teens upside targets.
• Microsoft spent the week managing perception around its AI strategy as OpenAI tapped Amazon Web Services for extra capacity, prompting both firms to stress that Azure remains OpenAI’s primary platform and that Microsoft keeps its exclusive tech license and revenue-sharing rights. While pausing part of its Sammamish Village campus and facing uncertainty over the next Xbox hardware, the company is still seen by analysts as one of the strongest AI beneficiaries, with heavy data center investment, in-house Maia chips, and price targets implying about 50% upside.