The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), was up 0.06% in Thursday’s pre-market trading on hopes of the U.S. and Iran reaching an agreement to end the war.
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Forget margin or options. Here's how the pros trade QQQOn Wednesday, QQQ gained 2.08% after Axios reported that the U.S. and Iran are nearing a deal to end the conflict. Also, Advanced Micro Devices’ (AMD) stellar Q1 results lifted investor sentiment about AI chips demand.
Overall, the QQQ ETF has gained 5.89% in the past five trading sessions and 41% 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 $768.47 for the QQQ ETF implies an upside potential of about 10.5%.
Currently, QQQ’s five holdings with the highest upside potential are:
Currently, QQQ’s top holdings with the highest downside potential are:
Revealingly, the QQQ ETF’s Smart Score is eight, implying that this ETF has the ability to outperform the broader market over the long term.