How is QQQ stock faring? The Invesco QQQ ETF has declined 0.84% over the past five days, but is up 15.8% year-to-date.
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What Moved the QQQ ETF?
The QQQ ETF, which tracks the performance of the Nasdaq-100 Index (NDX), jumped 2.2% on Monday as President Donald Trump softened his tone on the possibility of new tariffs on China.
However, the QQQ ETF was down 1.2% in Tuesday’s pre-market trading, as the trade war between the U.S. and China re-escalated, with Beijing prohibiting Chinese companies from doing business with U.S. subsidiaries of the South Korean shipbuilding giant Hanwha Ocean.
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 $662.07 for the QQQ ETF implies an upside potential of about 10%.
Currently, QQQ’s five holdings with the highest upside potential are Strategy (MSTR), Atlassian Corporation (TEAM), Dexcom (DXCM), Charter Communications (CHTR), and Comcast (CMCSA).
Meanwhile, its five holdings with the greatest downside potential are Intel (INTC), Tesla (TSLA), Palantir Technologies (PLTR), Lam Research (LRCX), and Applied Materials (AMAT).
Revealingly, QQQ ETF’s Smart Score is eight, implying that this ETF is likely to outperform the broader market.
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