The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), was up 0.66% in Wednesday’s pre-market trading, ahead of chip giant Nvidia’s (NVDA) fiscal first-quarter earnings. Also, oil prices trended lower.
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On Tuesday, QQQ declined 0.62% due to concerns about rising Treasury yields.
Overall, the QQQ ETF has declined 1.65% in the past five trading sessions, but is up about 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 $816.64 for the QQQ ETF implies an upside potential of 16.4%.
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:
- Intel (INTC)
- Fortinet (FTNT)
- CrowdStrike Holdings (CRWD)
- Marvell Technology (MRVL)
- Micron Technology (MU)
Revealingly, the QQQ ETF’s Smart Score is seven, implying that this ETF is expected to perform in line with the broader market.