The Invesco QQQ Trust (
QQQ
) ETF closely tracks the NASDAQ 100 Index (
NDX
) and enables investors to invest in the largest 100 non-financial companies. Remarkably, the QQQ ETF has gained about 39% in 2023 so far, and based on
technical indicators, QQQ is still a Buy near its current levels. Further, the QQQ ETF’s Outperform Smart Score on TipRanks and the
top Wall Street analysts’ average price target suggest further upside potential from the current level.
The ETF might have more room to run on the back of increasing opportunities in sectors such as artificial intelligence (AI), robotics, autonomous vehicles, the metaverse, and others.
Key Factors Supporting QQQ ETF
The QQQ ETF offers investors a diversified portfolio of companies from different sectors, including technology, healthcare, consumer discretionary, and communication services. Additionally, QQQ is known for its high trading volume, making it easy for investors to buy and sell shares.
Moving on, the QQQ ETF has delivered impressive historical performance, outperforming many other broad-market indices. Interestingly, the QQQ ETF stock has beaten the S&P 500 Index (
SPX
) 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 17.7% in the past decade, ending in March 2023.
Outperform 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 10.2% 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 Analysts?
As per 1,206 top analysts providing ratings on the
QQQ’s 102 holdings, the ETF is a Moderate Buy, and the average price target of $394.92 implies a 7.47% 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
)
ON Semiconductor Corporation (
ON
)
Broadcom Inc. (
AVGO
)
Mercadolibre, Inc. (
MELI
)
Asml Holding N.V. (
ASML
)
Meta Platforms, Inc. (
META
)
Applied Materials, Inc. (
AMAT
)
Lam Research Corp (
LRCX
)
Constellation Energy Corporation (
CEG
)
Disclosure
Ohtori spent his two-decade sumo career struggling for wins so he could to move up the ranks of Japan's traditional sport, but now he is fighting to entertain a different crowd: curious tourists.
In the latest trading session, Netflix (NFLX) closed at $438.84, marking a -1.58% move from the previous day. This move lagged the S&P 500's daily loss of 0.79%. At the same time, the Dow lost 1.07%, and the tech-heavy Nasdaq
Upon CEO Bog Iger’s return last year, Disney (DIS) continues to focus on lowering operating costs with layoffs at Disney Entertainment’s subsidiary ESPN sending shockwaves throughout the sports world last week.
Fintel reports that on July 6, 2023, Goldman Sachs maintained coverage of Netflix (NASDAQ:NFLX) with a Neutral recommendation. Analyst Price Forecast Suggests 8.45% Downside
Investors with an interest in Broadcast Radio and Television stocks have likely encountered both Nexstar Broadcasting Group (NXST) and Netflix (NFLX). But which of these two stocks presents investors with the better value opportun
Investors in Netflix Inc (Symbol: NFLX) saw new options become available today, for the August 25th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the NFLX options chain for the new August 25th contracts and identified one put and one call
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
The average one-year price target for Netflix (NASDAQ:NFLX) has been revised to 408.23 / share. This is an increase of 9.44% from the prior estimate of 373.03 dated June 1, 2023. The price target is an average of many targets provided by analysts. The latest targets range from
Fintel reports that on July 5, 2023, Goldman Sachs upgraded their outlook for Netflix (NASDAQ:NFLX) from Sell to Neutral . Analyst Price Forecast Suggests 15.50% Downside
Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Chipotle Mexican Grill Inc (Symbol: CMG), where a total of 6,630 contracts have traded so far, representing approximately 663,000 underlying shares. That amounts to abou
Wall Street's main indexes slipped on Wednesday as investors awaited minutes of the Federal Reserve's June meeting for clues on the central bank's monetary policy path, while Sino-U.S. tensions and weak economic data from Beijing dented sentiment.
Wall Street futures fell on Wednesday as investors awaited minutes of the Federal Reserve's June meeting for clues on the central bank's monetary policy path, while Sino-U.S. tensions and weak economic data from Beijing dented sentiment.
Netflix NFLX recently announced that its highly anticipated miniseries, The Burning Body, is set to premiere on Sep 8. The series, produced by Arcadia Motion Pictures, is inspired by a real-life crime that occurred in 2017. The st
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
Wall Street futures fell on Wednesday as investors awaited minutes of the Federal Reserve's June meeting for clues on the central bank's monetary policy path, while Sino-U.S. tensions and weak economic data from Beijing dented sentiment.
Wall Street futures fell on Wednesday, with all eyes on minutes from the Federal Reserve's June meeting for clues about the central bank's monetary policy path, while Sino-U.S. tensions and weak economic data from Beijing further dampened the mood.
South African pay television company MultiChoice Group's share price plunged on Tuesday after brokerage J.P. Morgan downgraded the company to an 'underweight' rating, analysts said.
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
Warner Bros. Discovery WBD announced a partnership with Mattel MAT to launch a global girls’ empowerment initiative ahead of the Jul 21 release of the Barbie movie.The multi-faceted campaign, benefiting worldwide humanitarian orga