PTON - Is QQQ Still A Tech Growth ETF?

May, 17 2022 06:58 PM Peloton Interactive Inc.

Investors think of QQQ as being a tech growth ETF based on its last 20 years of performance. But nothing in QQQ's index design ensures that will continue.
Analysis of QQQ's holdings verifies that roughly 75% of its stocks by weight are indeed what investors think of as tech stocks.
Analysis of the historical and forecast growth rates of QQQ's stocks find that their EPS growth rate has slowed almost by half though their valuations remain high.
QQQ's momentum may continue downward until its dominant stocks show signs they can still grow earnings at an annual rate deserving of a valuation near 30.

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