QQQ ETF Shows Mixed Performance Amid Tech Earnings Volatility
The Invesco QQQ ETF, tracking the Nasdaq 100 Index, delivered a 2.81% gain over the past week, extending its year-to-date rally to 24.8%. Thursday's session saw a 1.53% decline as Meta Platforms and Microsoft's earnings sparked concerns over aggressive AI spending.
Friday's pre-market trading reversed course with a 1.28% bounce following strong results from Amazon and Apple. Analysts maintain a Moderate Buy rating with a $688.97 price target, suggesting 10.05% upside potential.
Key holdings exhibiting notable divergence include MicroStrategy and Atlassian as top upside candidates, while Palantir and Tesla carry the highest downside risks. The ETF's Smart Score of 8 out of 10 reflects favorable momentum indicators.