Thu Oct 31 14:30:00 UTC 2024: ## QQQ ETF Posts Strong Gains, Analysts Remain Optimistic
The Invesco QQQ Trust ETF (QQQ), tracking the Nasdaq 100 index, has delivered impressive returns in recent weeks, climbing 0.87% in the past five days and soaring 21.47% year-to-date.
Analysts remain bullish on QQQ, with TipRanks’ unique ETF analyst consensus rating it a “Moderate Buy.” The Street’s average price target of $552.32 suggests a potential upside of 11.49%.
Among QQQ’s top holdings, Moderna (MRNA), Biogen (BIIB), Micron Technology (MU), Warner Bros. Discovery (WBD), and GlobalFoundries (GFS) are seen as having the highest upside potential. On the other hand, Tesla (TSLA), Airbnb (ABNB), ARM Holdings (ARM), Marriott International (MAR), and Old Dominion Freight Line (ODFL) carry the greatest downside risk.
With a Smart Score of 8, QQQ is considered likely to outperform the market. This strong performance and positive outlook make QQQ a compelling option for investors seeking exposure to the technology-heavy Nasdaq 100 index.
First Piper 