The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), was down 0.66% in Tuesday’s pre-market trading as April Consumer Price Index (CPI) rose 3.8% on an annual basis, higher than the consensus estimate of 3.7%. Persistent geopolitical risks also impacted investor sentiment.
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Trade QQQ with leverageOn Monday, QQQ gained 0.29%, despite ongoing geopolitical risks.
Overall, the QQQ ETF has gained 5.84% in the past five trading sessions and 40.5% 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 Strong Buy. The Street’s average price target of $794.13 for the QQQ ETF implies an upside potential of about 11.3%.
Currently, QQQ’s five holdings with the highest upside potential are:
- Insmed (INSM)
- Charter Communications (CHTR)
- Axon Enterprise (AXON)
- Strategy (MSTR)
- Thomson Reuters (TRI)
Currently, QQQ’s top holdings with the highest downside potential are:
- Intel (INTC)
- Micron Technology (MU)
- Qualcomm (QCOM)
- Marvell Technology (MRVL)
- CrowdStrike Holdings (CRWD)
Revealingly, the QQQ ETF’s Smart Score is seven, implying that this ETF is expected to perform in line with the broader market.