Invesco QQQ Trust (NASDAQ:QQQ) offers AI exposure through the customers rather than the suppliers.
Michael Burry, the Scion Asset Management founder known for “The Big Short,” is adding to his short book despite losses.
Subscribers to Chart of the Week received this commentary on Sunday, August 9.
If you own Invesco QQQ Trust (NASDAQ:QQQ), the fund has quietly been the most expensive way to buy the same 100 stocks its issuer sells you elsewhere.
Ten years ago, a $10,000 stake in the ProShares Ultra QQQ (NYSEARCA:QLD) would be worth roughly six figures today.
The Nasdaq-100 index is home to most of the trillion-dollar technology giants driving the AI revolution. This index typically outperforms the more diversified S&P 500 index over the long term.
The Invesco QQQ Trust (NASDAQ:QQQ) is the default way most investors buy the Nasdaq's biggest names, and for good reason.
Navigating market pullbacks requires looking beyond alarming headlines and focusing on how the market discounts information.
Launched on March 10, 1999, the Invesco QQQ (QQQ) is a passively managed exchange traded fund designed to provide a broad exposure to the Large Cap Growth segment of the US equity market.
The QQQ's top holdings—that is, big tech stocks—are in an AI-driven arms race, with rising CapEx and negative free cash flow emerging. The fund's constituents increasingly compete in commoditized cloud services, while chipmakers capture most AI-related free cash flow. Granted, some of the chipmakers are themselves big QQQ holdings (e.g., NVDA). But more of the top 10 are in the "AI CapEx spender" category than the "chipmaker" category.
Anyone holding the Invesco QQQ Trust (NASDAQ:QQQ) in 2026 has watched a decent year unfold.
If QQQ already feels like a tech-heavy bet, iShares Nasdaq Top 30 Stocks ETF (NASDAQ:QTOP) takes the same idea and strips it down further.