The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), surged 1.18% in Wednesday’s pre-market trading on hopes of a potential deal between the U.S. and Iran, as well as stellar Q1 results and guidance announced by chip giant Advanced Micro Devices (AMD).
Claim 55% Off TipRanks
Trade QQQ with leverageOn Tuesday, QQQ gained 1.30%, driven by a decline in oil prices and strong corporate earnings.
Overall, the QQQ ETF has gained 2.88% in the past five trading sessions and about 40% 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 $776.81 for the QQQ ETF implies an upside potential of about 14%.
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.