Current Performance and Trends
Investors tracking the Invesco QQQ ETF have witnessed a modest 0.21% increase over the past 5 days. Moreover, the ETF has shown a substantial growth of approximately 34% in the last year.
Analyst Consensus and Price Target
TipRanks’ unique ETF analyst consensus, formulated through a collective assessment of its holdings’ analyst ratings, classifies QQQ as a Moderate Buy. Additionally, the average price target on Wall Street stands at $547.81, suggesting an upside potential of around 13.63%.
Holdings Analysis
In its current portfolio, the top five holdings in QQQ with the highest potential for growth are Moderna (MRNA), Super Micro Computer (SMCI), GlobalFoundries (GFS), Micron (MU), and Biogen (BIIB).
Conversely, the five holdings in QQQ with the most significant potential downside are Tesla (TSLA), Constellation Energy Corp. (CEG), Fortinet (FTNT), ARM Holdings PLC (ARM), and Marriott International (MAR).
Market Outperformance Prediction
The ETF’s Smart Score of eight is a strong indicator that QQQ is positioned to outperform the broader market in the foreseeable future.
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