The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), was up 1.02% in Tuesday’s pre-market trading as investors cheered U.S. President Donald Trump’s positive comments on ending the Iran war. According to the Wall Street Journal, Trump told his aides that he was willing to end military hostilities in the Middle East even if the Strait of Hormuz remains essentially shut.
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Trade APP with leverageOn Monday, the QQQ ETF declined 0.76% amid concerns about tensions in the Middle East.
Overall, the QQQ ETF has declined 5.39% over the past five days, but is up about 20% 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 $761.76 for the QQQ ETF implies an upside potential of 36.5%.
Currently, QQQ’s five holdings with the highest upside potential are:
Revealingly, QQQ ETF’s Smart Score is seven, implying that this ETF is expected to perform in line with the broader market over the long term.