Investors looking to enjoy the rally in tech stocks should consider the Invesco QQQ Trust (NASDAQ: QQQ). So far in 2023, the QQQ ETF is up more than 32%, comfortably beating his 12% rise in the S&P 500 index (SPX). Notably, the QQQ ETF stock has outperformed the S&P 500 in 9 of the last 10 years. Interestingly, analysts are optimistic about the future growth potential of this ETF, envisioning opportunities for further expansion.
The QQQ ETF tracks the Nasdaq 100 Index (NDX), cloud computing, artificial intelligence, streaming services, and electric vehicles.
Additionally, QQQ ETF shares have delivered an average annualized return of 17.7% over the past 10 years ending March 2023. The ETF’s expense ratio (the cost of managing an ETF) is also as low as 0.20%, making it attractive. investment.
Is QQQ stock a buy?
It’s worth mentioning that 1,734 analysts provide ratings. QQQ Holdings 102, the ETF is a moderate buy. The average price target is $385.11, representing a 10.4% increase. Apart from analyst consensus, QQQ is buy based on technical indicators.
Additionally, the Invesco QQQ ETF includes: Beat Smart Score 8 This suggests that it is likely to beat the broader market average. Notably, over 50% of his holdings are outperformers. smart score.
Most of the ETF holdings have posted strong returns over the past year, with some stars still up 50% or more. Let’s take a look at five of the best performing ETFs.
- NVIDIA Corporation (NVDA)
- Netflix Inc. (NFLX)
- Dexcom (DXCM)
- MercadoLibre Inc. (Meri)
- Copart Co., Ltd. (CPRT)
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