ASML has a Zacks Rank #2 (Buy).Īirbnb is a leading platform for unique stays and experiences. The stock makes up for 0.5% of assets in the QQQ portfolio.ĪSML Holding gained 19.4% in the initial days of 2023 and has an expected earnings growth rate of 41.2% for this year. The company offers an integrated portfolio for manufacturing complex integrated circuits. It has a Zacks Rank #3 and Growth Score of A.ĪSML Holding is a world leader in the manufacture of advanced technology systems for the semiconductor industry. MercadoLibre has an expected earnings growth rate of 12.5% for this year. The stock climbed 21% and accounts for 0.4% in the fund’s basket. The company is a market leader in e-commerce in Brazil, Argentina, Colombia, Chile, Ecuador, Costa Rica, Peru, Mexico, and Uruguay based on unique visitors and page views. MercadoLibre is one of the largest e-commerce platforms in Latin America. It has a Value Score of A (read: A Spread of Top-Ranked Value ETFs to Bet in 2023). Discovery makes up for 0.3% of assets in QQQ and has a Zacks Rank #3 (Hold). The stock jumped 38.7% in the initial couple of weeks of 2023 and its earnings are expected to grow 71.7% this year. Discovery is a media and entertainment company which creates and distributes portfolio of content and brands across television, film and streaming. Invesco QQQ charges investors 20 bps in annual fees and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.īelow, we have highlighted the above-mentioned five stocks in the ETF with their respective positions in the fund’s basket. Invesco QQQ is one of the largest and most-popular ETFs in the large-cap space, with AUM of $60.6 billion and an average daily volume of around 45.5 million shares. Information technology accounts for 49.3% of the assets, while communication services and consumer discretionary make up for a 16.4% and 14.8% share, respectively. Invesco QQQ provides exposure to the 101 largest domestic and international non-financial companies listed on the Nasdaq. Let’s take a closer look at the fundamentals of QQQ. The Nasdaq is statistically highly oversold versus the S&P 500 right now, per various market participants. Given improving market sentiments, investors have jumped in to buy the most beaten-down stocks of 2022 and the Nasdaq was the underperformer last year. The data has put the Federal Reserve on track to again slow the pace of interest-rate hikes. The annual inflation growth was the smallest rise since October 2021. It rose 6.5% year over year in December, down from a 7.1% year-over-year increase in November and a recent peak of 9.1% in June. The consumer price index dipped 0.1% in December after gaining 0.1% in November. The latest job data showed a deceleration in wage growth, which gave investors hope that the Fed could ease off on its interest-rate increases, resulting in a boost to tech shares (read: 3 Reasons Why Tech ETFs May Rebound in 2023).Īdditionally, consumer prices unexpectedly fell for the first time in more than two-and-a half years in December. This is especially true as inflation has been easing and consumer confidence is rising. The tech sector, which was the biggest victim of surging yields last year, is the outperformer. ( ABNB Quick Quote ABNB - Free Report), and IDEXX Laboratories Inc. ( MELI Quick Quote MELI - Free Report), ASML Holding ( ASML Quick Quote ASML - Free Report), Airbnb Inc. Discovery ( WBD Quick Quote WBD - Free Report), MercadoLibre, Inc. As such, we have highlighted the five best-performing stocks of QQQ at the start of 2023. This is in contrast to other most popular large-cap ETFs like SPDR S&P 500 ( SPY Quick Quote SPY - Free Report) and SPDR Dow Jones Industrial Average ETF ( DIA Quick Quote DIA - Free Report), which gained 3.4% and 2.5%, respectively. Invesco QQQ ( QQQ Quick Quote QQQ - Free Report), which serves as a proxy to the index, gained 4.2%. While the rally has been broad-based, the high beta and high growth sector took charge, with the tech-heavy Nasdaq Composite Index rising 5.1% in the initial two weeks of 2023. Wall Street has been showing immense strength after the biggest annual loss since 2008 as easing inflation and hopes of the Fed’s slower rate hike path has rekindled risk-on trade.
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