QQQ ETF Rises Amid Tech Rally and Macro Optimism
The Invesco QQQ ETF gained 2.25% over the past week and 20.1% year-to-date, buoyed by a 1.26% surge on Monday as Apple's iPhone 17 momentum lifted tech stocks. Pre-market trading showed a tentative 0.04% uptick as markets await earnings reports and inflation data.
Analysts maintain a Moderate Buy rating on QQQ, with a $673.59 price target implying 10.2% upside potential. Top holdings with bullish outlooks include MicroStrategy—a notable Bitcoin proxy—alongside Atlassian and MercadoLibre. Conversely, Intel and Tesla anchor the fund's downside exposures.
While the article focuses on traditional equities, crypto investors should note MicroStrategy's inclusion as a high-upside holding. The business intelligence firm has become a de facto bitcoin investment vehicle, with its fortunes increasingly tied to BTC's performance.
