How is QQQ stock performing? The Invesco QQQ ETF has lost 0.84% over the past five days, but is up 15.8% year to date.
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What drives the QQQ ETF?
QQQ ETF, which tracks the performance of the Nasdaq 100 Index (NDXShares rose 2.2% on Monday as President Donald Trump softened his tone on the possibility of new tariffs on China.
However, the QQQ ETF fell 1.2% in pre-market trading on Tuesday as the U.S.-China trade war escalated again and Beijing banned Chinese companies from doing business with the U.S. subsidiary of South Korean shipbuilding giant Hanwha Marine.
QQQ Key holdings with the highest upside/downside potential
According to TipRanks' unique ETF analyst consensus, which is based on a weighted average of analyst ratings for its Hold, QQQ is a Moderate Buy. Wall Street's average price target for the QQQ ETF is $662.07, which implies upside potential of about 10%.
Currently, the five stocks with the greatest upside potential for QQQ are Strategy (MSTR), Atlassian Corporation (TEAM), Dexcom (DXCM), Charter Communications (CHTR), and Comcast (CMCSA).
Meanwhile, the five stocks with the greatest downside potential are Intel (INTC), Tesla (TSLA), Palantir Technologies (PLTR), Lam Research (LRCX) and Applied Materials (AMAT).
Notably, the QQQ ETF has a Smart Score of 8, which means the ETF is likely to outperform the market.
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