The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), was up 0.57% in pre-market trading as investors focused on key earnings and developments in the Middle East, with a ceasefire set to expire on Wednesday.
Claim 30% Off TipRanks
Forget margin or options. Here's how the pros trade QQQMeanwhile, the QQQ ETF fell 0.32% on Monday amid escalating tensions between the U.S. and Iran. All three major indexes ended lower, with the Nasdaq Composite falling 0.26% and breaking its longest positive streak since 1992.
Overall, the QQQ ETF has risen 6.12% over the past five days and is up about 50% 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 $747.18 for the QQQ ETF implies an upside potential of 15.5%.
Currently, QQQ’s five holdings with the highest upside potential are:
Currently, QQQ’s top holdings with the highest downside potential are:
- Intel (INTC)
- Marvell Technology (MRVL)
- Monolithic Power (MPWR)
- Old Dominion Freight Line (ODFL)
- Western Digital (WDC)
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.