How is QQQ stock faring? The Invesco QQQ ETF has declined 1.14% over the past five days but is up 17.4% 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), gained 0.71% on Wednesday amid a choppy trading session, with investors focusing on key earnings and shrugging off concerns related to the escalating trade war with China and the ongoing government shutdown.
In Thursday’s pre-market trading, the QQQ ETF was up 0.53% as investors continued to focus on rate-cut bets and the September quarter earnings season.
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 $675.67 for the QQQ ETF implies an upside potential of about 12.2%.
Currently, QQQ’s five holdings with the highest upside potential are Strategy (MSTR), Atlassian Corporation (TEAM), Dexcom (DXCM), MercadoLibre (MELI), and Charter Communications (CHTR).
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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