The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), was up 0.60% in Tuesday’s pre-market trading as oil prices moved lower and investors assessed developments in the Middle East and the latest earnings reports from Palantir Technologies (PLTR), Pinterest (PINS), and other companies.
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Forget margin or options. Here's how the pros trade QQQOn Monday, QQQ fell 0.19% amid persistent tensions in the Middle East. Notably, the United Arab Emirates (UAE) said that Iran launched drones and missiles against it, sparking concerns about the fragile ceasefire between the U.S. and Iran.
Overall, the QQQ ETF has gained 1.57% in the past five trading sessions and is up 38.5% 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 $782.73 for the QQQ ETF implies an upside potential of 16.3%.
Currently, QQQ’s five holdings with the highest upside potential are:
Currently, QQQ’s top holdings with the highest downside potential are:
- Marvell Technology (MRVL)
- Intel (INTC)
- Advanced Micro Devices (AMD)
- ARM Holdings (ARM)
- Microchip Technology (MCHP)
Revealingly, QQQ ETF’s Smart Score is eight, implying that this ETF has the ability to outperform the broader market over the long term.