We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Nasdaq Tops 15K for First Time: 5 Best Stocks in the ETF
Read MoreHide Full Article
The tech-heavy Nasdaq Composite Index topped 15,000 for the first time ever driven by continued strength in tech stocks like Microsoft (MSFT - Free Report) , Nvidia (NVDA - Free Report) and Alphabet (GOOGL - Free Report) .
In particular, renewed optimism over the global economic recovery after the first full U.S. approval of a COVID-19 vaccine made by Pfizer (PFE - Free Report) and BioNTech bolstered risk-on trade. This is because the full approval will help squash the ongoing surge in the COVID-19 Delta variant and lead to a continued reopening of the economy. Additionally, strong corporate profit growth and ultra-easy monetary policies remain the major catalysts.
According to research firm Bespoke Investment Group, this is the sixth time the Nasdaq has crossed a 1,000-point threshold since the pandemic began (read: Buy These 7 Amazing ETFs Trading at Low P/E Ratios).
As a result, Invesco QQQ (QQQ - Free Report) , which serves as a proxy to the index, has also hit new highs, gaining 19.6% so far this year. Let’s take a closer look at the fundamentals of QQQ.
QQQ in Focus
This ETF provides exposure to the 102 largest domestic and international non-financial companies listed on the Nasdaq by tracking the Nasdaq 100 Index. Information technology accounts for 49.2% of the assets, while communication services and consumer discretionary make up for 19.5% and 16.1% share, respectively.
QQQ is one of the largest and most-popular ETFs in the large-cap space with AUM of $184.7 billion and average daily volume of around 32.7 million shares. It charges investors 20 bps in annual fees. The fund has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook. Though most of the stocks in the fund’s portfolio have delivered strong returns so far this year, a few have gained more than 50%.
Below we have highlighted those five best-performing stocks in the ETF with their respective positions in the fund’s basket:
Top-Performing Stocks in QQQ
Moderna Inc. (MRNA - Free Report) : It is a clinical-stage pharmaceutical company, primarily focused on discovering and developing messenger RNA-based therapies. The stock has skyrocketed about 278% this year and has an expected earnings growth rate of more than 1000%. Moderna currently has a Zacks Rank #2 and VGM Score of B. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
NVIDIA Corporation (NVDA - Free Report) : This company is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit, or GPU. The stock has gained about 67% and has an estimated earnings growth rate of 68% for fiscal year (ending Jan 22). It has a Zacks Rank #2 and Growth Score of B (read: Nvidia ETFs to Buy on Blockbuster Q2 Earnings).
ASML Holding N.V. (ASML - Free Report) : It is a world leader in the manufacture of advanced technology systems for the semiconductor industry. The stock has climbed nearly 65% so far this year and has an estimated earnings growth rate of 65.5% for this year. It has a Zacks Rank #2 and Growth Score of A.
Alphabet Inc. (GOOGL - Free Report) : It is one of the most innovative companies in the modern technological age. The stock has surged more than 61% and has an estimated earnings growth of 73.8% for this year. It has a Zacks Rank #3 and Growth Score of A (read: 5 Bargain ETFs to Tap Renewed Tech Strengthh).
Applied Materials Inc. (AMAT - Free Report) : It is one of the world’s largest suppliers of equipment for the fabrication of semiconductor, flat panel liquid crystal displays, and solar photovoltaic cells and modules. The stock has climbed nearly 52% so far this year and has an estimated earnings growth rate of 64% for the fiscal year (ending October 2021). It has a Zacks Rank #2 and VGM Score of B.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Nasdaq Tops 15K for First Time: 5 Best Stocks in the ETF
The tech-heavy Nasdaq Composite Index topped 15,000 for the first time ever driven by continued strength in tech stocks like Microsoft (MSFT - Free Report) , Nvidia (NVDA - Free Report) and Alphabet (GOOGL - Free Report) .
In particular, renewed optimism over the global economic recovery after the first full U.S. approval of a COVID-19 vaccine made by Pfizer (PFE - Free Report) and BioNTech bolstered risk-on trade. This is because the full approval will help squash the ongoing surge in the COVID-19 Delta variant and lead to a continued reopening of the economy. Additionally, strong corporate profit growth and ultra-easy monetary policies remain the major catalysts.
According to research firm Bespoke Investment Group, this is the sixth time the Nasdaq has crossed a 1,000-point threshold since the pandemic began (read: Buy These 7 Amazing ETFs Trading at Low P/E Ratios).
As a result, Invesco QQQ (QQQ - Free Report) , which serves as a proxy to the index, has also hit new highs, gaining 19.6% so far this year. Let’s take a closer look at the fundamentals of QQQ.
QQQ in Focus
This ETF provides exposure to the 102 largest domestic and international non-financial companies listed on the Nasdaq by tracking the Nasdaq 100 Index. Information technology accounts for 49.2% of the assets, while communication services and consumer discretionary make up for 19.5% and 16.1% share, respectively.
QQQ is one of the largest and most-popular ETFs in the large-cap space with AUM of $184.7 billion and average daily volume of around 32.7 million shares. It charges investors 20 bps in annual fees. The fund has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook. Though most of the stocks in the fund’s portfolio have delivered strong returns so far this year, a few have gained more than 50%.
Below we have highlighted those five best-performing stocks in the ETF with their respective positions in the fund’s basket:
Top-Performing Stocks in QQQ
Moderna Inc. (MRNA - Free Report) : It is a clinical-stage pharmaceutical company, primarily focused on discovering and developing messenger RNA-based therapies. The stock has skyrocketed about 278% this year and has an expected earnings growth rate of more than 1000%. Moderna currently has a Zacks Rank #2 and VGM Score of B. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
NVIDIA Corporation (NVDA - Free Report) : This company is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit, or GPU. The stock has gained about 67% and has an estimated earnings growth rate of 68% for fiscal year (ending Jan 22). It has a Zacks Rank #2 and Growth Score of B (read: Nvidia ETFs to Buy on Blockbuster Q2 Earnings).
ASML Holding N.V. (ASML - Free Report) : It is a world leader in the manufacture of advanced technology systems for the semiconductor industry. The stock has climbed nearly 65% so far this year and has an estimated earnings growth rate of 65.5% for this year. It has a Zacks Rank #2 and Growth Score of A.
Alphabet Inc. (GOOGL - Free Report) : It is one of the most innovative companies in the modern technological age. The stock has surged more than 61% and has an estimated earnings growth of 73.8% for this year. It has a Zacks Rank #3 and Growth Score of A (read: 5 Bargain ETFs to Tap Renewed Tech Strengthh).
Applied Materials Inc. (AMAT - Free Report) : It is one of the world’s largest suppliers of equipment for the fabrication of semiconductor, flat panel liquid crystal displays, and solar photovoltaic cells and modules. The stock has climbed nearly 52% so far this year and has an estimated earnings growth rate of 64% for the fiscal year (ending October 2021). It has a Zacks Rank #2 and VGM Score of B.