This Invesco QQQ ETF Is at an All-Time High: History Says This Is What's to Come
It's no secret by now. 2023 has been a great year for tech stocks. The Nasdaq Composite (NASDAQINDEX: ^IXIC)is up a whopping 44% through Dec. 28. Tech stocks have rebounded from 2022's bear market thanks to rock-bottom valuations to start the year and excitement over artificial intelligence (AI), which has paced some of the biggest gainers in the tech sector.
While the Nasdaq's gains have been impressive, there's another well-known tech index that has done even better than the Nasdaq Composite. That's the Nasdaq-100, which is composed of the 100 largest non-financial Nasdaq stocks and is up 54.5% with one day left to go in 2023. The largest exchange-traded fund (ETF) that tracks it, the Invesco QQQ Trust (NASDAQ: QQQ), is up by the same percentage.
The Nasdaq Composite is still short of the all-time high it reached in November by about 7%, but the Nasdaq-100 set an all-time high on Dec. 19 and has continued to climb from there.
Source Fool.com
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