The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), was down 0.61% in Tuesday’s pre-market trading amid concerns over rising bond yields and persistent pressure on chip stocks.
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Forget margin or options. Here's how the pros trade QQQOn Monday, QQQ lost 0.43%, with memory chip stocks and technology stocks falling after Seagate Technology (STX) CEO expressed concerns about meeting AI-led demand.
Overall, the QQQ ETF has declined 1.07% in the past five trading sessions, but is up 35% over the past year.
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 $813.17 for the QQQ ETF implies an upside potential of 15.2%.
Currently, QQQ’s five holdings with the highest upside potential are:
- Strategy (MSTR)
- Insmed (INSM)
- Charter Communications (CHTR)
- Axon Enterprise (AXON)
- Thomson Reuters (TRI)
Currently, QQQ’s top holdings with the highest downside potential are:
Revealingly, the QQQ ETF’s Smart Score is seven, implying that this ETF is expected to perform in line with the broader market.