2024-06-24 16:17:07 ET
Summary
- QQQ Trust ETF might have seen a nice increase so far in 2024, but the risks have risen in line with rising valuations.
- Among its top 10 constituents, only four are now trading at lower PE multiples than their five-year averages. Of these, there's only a small difference for Alphabet, and Tesla can see further downside.
- Amazon still has positive potential, and with a more prominent communications sector and less significant consumer discretionary, QQQ can still see some upside. But a pullback is increasingly likely.
When I last wrote about the Nasdaq tracker fund Invesco QQQ Trust ETF (QQQ) in March, it was losing its edge to the S&P 500 ( SP500 ) index following a significant lead in 2023. However, it’s back to growing faster (see chart below)....
Read the full article on Seeking Alpha
For further details see:
QQQ: Bumpy Short-Term Ride Possible (Rating Downgrade)