Shares in Google parent Alphabet Inc were up 4.9% on Thursday after it said it was rolling out its artificial-intelligence chatbot Bard in Europe and Brazil, easing worries about overseas regulatory issues.
Fintel reports that on July 13, 2023, Oppenheimer maintained coverage of Microsoft (NASDAQ:MSFT) with a Outperform recommendation. Analyst Price Forecast Suggests 3.91% Upside
Teradata TDC recently announced the availability of VantageCloud Lake on Microsoft’s MSFT cloud computing service, Azure, providing customers with access to new markets and capabilities.The integration with Microsoft Azure will en
Investors keen on investing in the technology sector could consider the
Invesco QQQ Trust (
NASDAQ:QQQ)
ETF. This appealing ETF closely tracks the Nasdaq 100 Index (
NDX
) and provides an opportunity for investors to hold stocks from 10 different sectors. Interestingly, based on
technical indicators, QQQ is still a Buy near its current levels.
Technical Analysis in Detail
According to TipRanks’ technical analysis tool, the QQQ ETF stock’s 50-day EMA (exponential moving average) is 349.63, making it a Buy. Further, the moving average convergence divergence (MACD) indicator also signals a Buy.
At the same time, QQQ’s price rate of change (ROC) of 0.35 points to a bullish trend. Also, the QQQ ETF’s Williams %R signals a Buy.
Overall, on the one-day time frame, QQQ stock is a Strong Buy, according to TipRanks’ easy-to-read technical summary signals. This is based on 16 Bullish, six Neutral, and zero Bearish signals.
Latest Update on QQQ ETF
The QQQ ETF’s impressive year-to-date rally of over 41% can be largely attributed to the substantial increase in stock prices of the top seven technology companies. These companies include Microsoft (
MSFT
), Apple (
AAPL
), Nvidia (
NVDA
), Amazon (
AMZN
), Tesla (
TSLA
), Meta (
META
), and Alphabet (
GOOGL
) (
GOOG
). Together, these stocks account for more than 55% of the holdings in the QQQ ETF.
It is important to note that Nasdaq (
NDAQ
) has scheduled a special rebalance of the Nasdaq 100 Index before the market opens on July 24. The purpose of this rebalance is to mitigate the issue of overconcentration in the index by reducing the combined weight of these seven giants. According to the index’s methodology, it is expected that the total weighting of these stocks will decrease by between 6% to 8%.
Furthermore, The Trade Desk (
TTD
) will be added to the Nasdaq 100 prior to the market opening on July 17, 2023. TTD will be replacing Activision Blizzard (
ATVI
), which is set to be acquired by MSFT.
Is QQQ a Good ETF to Invest In?
As per 1,214
top Wall Street analysts providing ratings on the
QQQ’s 102 holdings, the ETF comes in as a Moderate Buy, and the
average QQQ price target of $392.47 implies 5.3% upside potential. It is noteworthy that these top analysts have an impressive history of helping investors generate massive returns from their recommendations.
Moreover, according to TipRanks’ Smart Score System,
QQQ stock has a Smart Score of 8 out of 10, which indicates that it could outperform the broader market over the long term.
Disclosure
Lina Khan, the progressive head of the U.S. Federal Trade Commission (FTC), went before a Republican-led House committee on Thursday where she faced tough questions and intense criticism from Republicans.
In early trading on Thursday, shares of Salesforce topped the list of the day's best performing Dow Jones Industrial Average components, trading up 1.4%. Year to date, Salesforce registers a 73.9% gain.
The Nasdaq is where fortunes have long been made and lost and made again, and over the long run, the companies on that tech-heavy exchange have proven to be solid investments, especially for those who have bought and held such titans as Microsoft and Amazon, or index funds that f
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Whether you're a casual investor or trade professionally, chances are you've heard about the current boom in artificial intelligence (AI). After last year's economic downturn caused many tech stocks to fall out of favor, recent advances in AI have bolstered numerous companies acr
Huge news for the gaming industry dropped this week when a U.S. federal judge sided with Microsoft (NASDAQ: MSFT) to prevent the Federal Trade Commission (FTC) from performing a preliminary injunction to block the technology giant's acquisition of Activision Blizzard (NASDAQ: ATV
The U.S. Federal Trade Commission has opened an investigation into OpenAI, the maker of ChatGPT, on claims it has run afoul of consumer protection laws by putting personal reputations and data at risk, according to an FTC demand for information sent to the company.
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In a frenzy unseen since the birth of social media in the early 2000s, investors are pouring billions into generative AI and fueling a startup boom in San Francisco.
Lina Khan, the progressive head of the U.S. Federal Trade Commission, goes before a Republican-led House committee on Thursday where she will likely face tough questions including about her court defeats over big corporate mergers.
Morgan Stanley analysts, led by Keith Weiss, recently ranked Microsoft (NASDAQ: MSFT) as their "top pick" among large-cap software companies, citing growth prospects in generative artificial intelligence (AI) and a sensible valuation. The analyst team also raised its 12-month pri
Microsoft (NASDAQ: MSFT) has been in fine form on the stock market in 2023, with impressive gains of 38% so far. This surge has helped the tech giant increase its market cap substantially.
Alphabet said it is rolling out its artificial- intelligence chatbot, Bard, in Europe and Brazil on Thursday, the product's biggest expansion since its February launch and pitting it against Microsoft-backed rival ChatGPT.
Sony Group will boost research and development spending at its gaming unit by about 10% to 300 billion yen ($2.2 billion) this financial year, the Nikkei reported on Thursday.
The U.S. Federal Trade Commission said in a court filing on Wednesday that it would appeal a federal judge's ruling that Microsoft could go forward with its $69 billion purchase of "Call of Duty" maker Activision Blizzard.