Most every growth investor is looking for that small company today that brings massive returns. Such powerhouses do have to start from somewhere, after all -- Amazon and Netflix once had market caps under $1 billion.
The streaming business thus far has performed like the typical new growth industry, luring lots of contenders to the table since Netflix (NASDAQ: NFLX) got the ball rolling back in 2007. This year marks a major pivot point for the business, though.
U.S. stocks ended mixed on Friday, with the Dow Jones Industrial Average rising marginally to notch its 10th straight day of advances, its longest rally in almost six years.
The Dow Jones Industrial Average (DJI) simply could not be stopped this past week. Worrisome economic data out of China did nothing to detain the blue-chip index's win streak, with a strong performance from Microsoft (MSFT) helping it conquer the 35,000 level for the first time
U.S. stocks rose on Friday, with gains in healthcare setting the Dow Jones Industrial Average on course for its tenth straight day of advances, its longest rally in almost six years.
Wall Street rose in choppy trading on Friday, with a rally in healthcare stocks setting the blue-chip Dow index on course for its tenth straight day of gains.
Comcast CMCSA has been riding on NBCUniversal’s (“NBCU”) strong content portfolio and expanding broadband subscriber base. Peacock’s growing adoption rate is also noticeable with the streaming service reporting user base growth of
What happened
Shares of Netflix (NASDAQ: NFLX) closed Thursday's trading session 8.4% lower, according to data provided by S&P Global Market Intelligence, after the streaming media leader announced mixed second-quarter 2023 results and light forward guidance.
The tech-heavy Nasdaq and S&P 500 rose on Friday as megacap growth stocks recovered after sharp losses in the previous session, while the Dow took a breather after a nine-day winning streak.
Earnings season put the dumb in "tudum" for Netflix (NASDAQ: NFLX) investors this week. Shares of the leading premium streaming video service plummeted 8.4% on Thursday after the company posted mixed financial results for the second quarter. Netflix stock has still more than doub
Netflix (NASDAQ: NFLX) stock had been on a tear coming into its second-quarter earnings report, as excitement over a subscriber bump from its paid sharing rollout helped drive the stock price up 40% over the last three months. However, the leading streaming stock sold off after i
Wall Street closed mixed on Thursday following mixed earnings results of second-quarter 2023. Moreover, tight labor market data also bolstered market participants’ concern that the Fed may continue to pursue interest rate hike reg
Wall Street's main indexes were set to open higher on Friday, setting the Dow on track for its tenth straight day of gains, while megacap growth and technology stocks recovered after sharp losses in the previous session.
Below is Validea's guru fundamental report for NETFLIX INC (NFLX). Of the 22 guru strategies we follow, NFLX rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. This momentum model looks for a combination of fundamental momentum
U.S. stock index futures crept higher on Friday, setting the Dow on track for its tenth straight day of gains, while megacap growth and technology stocks recovered after sharp losses in the previous session.
September S&P 500 futures (ESU23) are up +0.25%, and September Nasdaq 100 E-Mini futures (NQU23) are up +0.36% this morning after three major U.S. benchmark indices closed mixed on Thursday as market participants digested a mixed slate of corporate earnings and parsed through economic data that underscored the continued strength of the U.S. labor market, with the focus shifting to the Federal Reserve’s interest-rate decision scheduled for next week.
U.S. stock index futures crept higher on Friday, setting the Dow on track for its tenth straight day of gains, while megacap growth and technology stocks recovered after sharp losses in the previous session.
Investors looking to invest in tech stocks may consider the Invesco QQQ Trust (
NASDAQ:QQQ
). So far in 2023, the QQQ ETF has advanced more than 42%, easily outperforming the 18.6% rise in the S&P 500 Index (
SPX
). Encouragingly, the ETF’s Outperform Smart Score on TipRanks indicates positive signals. Also, the analysts’ average price target implies more room for the ETF to grow.
The ETF might have more room to run on the back of falling inflation, the economy’s resilient recovery, and the pause on the Fed’s benchmark interest rate hike.
QQQ ETF: Key Supporting Factors
The QQQ ETF stock is a growth-focused index fund with about $208.95 billion in assets under management as of July 20. Also, the ETF has a low expense ratio (cost of managing the ETF) of 0.20%, which makes it a promising investment.
Moving on, the QQQ ETF stock has beaten the S&P 500 Index in nine out of the last ten years, with the trend continuing in 2023 so far. Moreover, the stock has delivered an average annualized return of 18.93% in the past decade, ending in June 2023.
Favorable Smart Score
According to TipRanks’ Smart Score System,
QQQ has a Smart Score of 8 out of 10, which indicates that the ETF could outperform the broader market over the long term. It is worth highlighting that more than 50% of the holdings boast an Outperform
Smart Score (i.e., a score of 8 or higher).
The stock has a
Positive signal from retail investors. Our data shows that about 10.3% of TipRank’s retail investors changed their holdings of the QQQ in the last 30 days. Moreover, The SPY ETF enjoys bullish blogger sentiment on TipRanks.
Is Invesco QQQ a Good Buy, According to Top Analysts?
As per 1,244 top analysts providing ratings on the
QQQ’s 102 holdings, the ETF is a Moderate Buy, and the average price target of $415.49 implies a 10.28% upside. It is noteworthy that these top analysts have an impressive history of helping investors generate massive returns from their recommendations.
QQQ ETF’s Best-Performing Stocks
Here are some notable companies within the QQQ ETF that have demonstrated outstanding performance in the past year:
Nvidia Corporation (
NVDA
)
Netflix Inc. (
NFLX
)
Broadcom Inc. (
AVGO
)
Constellation Energy Corporation (
CEG
)
Trade Desk (
TTD
)
Meta Platforms, Inc. (
META
)
ON Semiconductor Corporation (
ON
)
Paccar (
PCAR
)
Dexcom (
DXCM
)
Booking Holdings (
BKNG
)
Disclosure
Fool.com contributor Parkev Tatevosian reviews Netflix's (NASDAQ: NFLX) quarterly update to determine if the company's biggest headwinds are behind it.