How is QQQ stock faring? The Invesco QQQ ETF has declined 3.80% over the past five days, but is up 20.1% 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), declined 1.86% on Thursday amid concerns about lofty valuations of technology and artificial intelligence (AI) stocks.
In Friday’s pre-market trading, the QQQ ETF was down 0.20%, on continued worries about elevated valuations.
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 $713.70 for the QQQ ETF implies an upside potential of about 17%.
Currently, QQQ’s five holdings with the highest upside potential are Strategy (MSTR), Dexcom (DXCM), Atlassian Corporation (TEAM), DoorDash (DASH), and The Trade Desk (TTD).
Meanwhile, its five holdings with the greatest downside potential are Tesla (TSLA), Micron Technology (MU), Applied Materials (AMAT), Warner Bros. Discovery (WBD), and Intel (INTC).
Revealingly, QQQ ETF’s Smart Score is eight, implying that this ETF is likely to outperform the broader market.
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