How is QQQ stock faring? The Invesco QQQ ETF has declined 2.92% over the past five days and is up 15.8% year-to-date.
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What Moved QQQ ETF?
The QQQ ETF, which tracks the performance of the Nasdaq 100 Index (NDX), fell 3.5% on Friday as U.S. President Donald Trump threatened China with a massive increase in tariffs on imports and accused Beijing of “becoming very hostile” with its restrictions on rare earth metals, a crucial resource for the tech and defense industries.
However, the QQQ ETF is expected to recover today, as Trump assured on Sunday that trade relations with China “will all be fine.” In fact, QQQ ETF was up 1.8% in Monday’s pre-market trading as of writing.
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 Moderate Buy. The Street’s average price target of $674.70 for the QQQ ETF implies an upside potential of 14.45%.
Currently, QQQ’s five holdings with the highest upside potential are Strategy (MSTR), Atlassian Corporation (TEAM), Dexcom (DXCM), Charter Communications (CHTR), and Intuitive Surgical (ISRG).
Meanwhile, its five holdings with the greatest downside potential are Intel (INTC), Tesla (TSLA), Palantir Technologies (PLTR), Lam Research (LRCX), and Electronic Arts (EA).
Revealingly, QQQ ETF’s Smart Score is eight, implying that this ETF is likely to outperform the broader market.
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