The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), was down 0.62% in Thursday’s pre-market trading as rising Treasury yields and oil prices weighed on investor sentiment. Also, investors assessed earnings reports of Nvidia (NVDA) and Walmart (WMT).
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On Wednesday, QQQ rose 1.66%, ahead of Nvidia’s fiscal first-quarter earnings.
Overall, the QQQ ETF has risen 0.74% in the past five trading sessions and is up about 39% 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 $800.49 for the QQQ ETF implies an upside potential of 12.3%.
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.