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5 Stocks in QQQ ETF That Drove Nasdaq's Record Closing High
ZACKSยท2025-08-08 15:01

Market Overview - The Nasdaq Composite reached a record high on August 7, with 17 all-time closing highs in 2025, despite new tariffs on imports [1] - The Invesco QQQ ETF, which tracks the Nasdaq, also saw significant gains [1] Top Performing Stocks - Aveanna Healthcare Holdings (AVAH) surged by 49.4% on August 7, leading the QQQ ETF portfolio [2] - Other notable performers included Sunrun Inc. (RUN) with a 32.3% increase, Advantage Solutions (ADV) at 22.4%, Ziff Davis (ZD) at 21.6%, and Groupon (GRPN) at 20.3% [2] Factors Driving Nasdaq Surge - Strong corporate earnings reports contributed to positive investor sentiment, despite tariff concerns [3] - The tech sector showed resilience, benefiting from tariff exemptions for U.S.-based semiconductor manufacturers, which included major companies like Apple (AAPL) and Taiwan Semiconductor Manufacturing (TSM) [4] AI and Tech Investment - The generative AI trend is driving growth in the tech sector, with increased demand for data centers, GPUs, and AI-focused software [5] - Major tech firms are ramping up capital expenditures in 2025, which supports job growth and stabilizes markets [6] Economic Indicators - Recent economic data suggest a higher likelihood of the Federal Reserve cutting interest rates in September, which would benefit stocks sensitive to borrowing costs and potentially boost consumer spending [7] QQQ ETF Details - The QQQ ETF provides exposure to the 101 largest non-financial companies on the Nasdaq, with 60.8% of assets in information technology and 19.4% in consumer discretionary [8] - The ETF has an AUM of $335.5 billion and an average daily volume exceeding 43 million shares, with an annual fee of 20 basis points [8] Company Profiles - Aveanna Healthcare focuses on home care for medically complex patients, with an estimated earnings growth rate of 266.67% for the year and a Zacks Rank of 1 [10] - Sunrun, which develops residential solar energy systems, is expected to see a decline in earnings of 130.83% this year, holding a Zacks Rank of 3 [11] - Advantage Solutions, a provider of business solutions for consumer goods, has an estimated earnings growth rate of 178.57% and a Zacks Rank of 3 [12] - Ziff Davis, a digital media company, has an expected earnings growth rate of 5.44% and a Zacks Rank of 3 [12] - Groupon connects consumers to merchants, with an estimated earnings growth rate of 120% and a Zacks Rank of 1 [13]