The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), soared 1.5% in Friday’s pre-market trading, after President Donald Trump said that Israel and Lebanon agreed to extend their ceasefire by three weeks.
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New trading tool for QQQ bullsMeanwhile, the QQQ ETF fell 0.56% on Thursday amid tensions in the Middle East and the decline in shares of IBM (IBM), ServiceNow (NOW), and Tesla (TSLA) after their quarterly results/outlook failed to impress investors.
Overall, the QQQ ETF has risen 3.56% over the past five days and is up 40.2% 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 $766.46 for the QQQ ETF implies an upside potential of about 18%.
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)
- Monolithic Power (MPWR)
- Western Digital (WDC)
- ARM Holdings (ARM)
- Seagate Technology (STX)
Revealingly, QQQ ETF’s Smart Score is eight, implying that this ETF has the ability to outperform the broader market over the long term.