The Invesco QQQ Trust surged 2.77% on Monday. It closed at $741.47 and extended its winning streak to four consecutive sessions thanks to renewed enthusiasm for artificial intelligence stocks.
QQQ opened at $727.89 before climbing as high as $743.22. This put the technology-heavy ETF less than 1% below its 52-week high of $748.65. Around 46.7 million shares changed hands during the session, compared with roughly 48.5 million on Friday.
QQQ price over the past week (Source: CoinCodex)
The rally has pushed QQQ up about 20.7% so far in 2026.
AI Stocks Give QQQ Another Boost
Monday's jump was part of a wider technology rally that sent the Nasdaq Composite to a record closing high. AI-linked companies were among the biggest drivers, with the Philadelphia Semiconductor Index jumping 4.3%.
AMD also reached a $1 trillion market capitalization, while Meta surged 11.4% after receiving a price-target upgrade linked to optimism surrounding its AI strategy.
Falling Treasury yields also helped growth stocks. The US 10-year Treasury yield slipped below 5%, while declining oil prices eased some concerns about inflation after the Federal Reserve's recent rate hike. These factors are particularly important for QQQ because its portfolio is heavily exposed to large technology and growth companies.
The fund's biggest holdings recently included Nvidia, Apple, Microsoft, Micron, Amazon and AMD. This means that continued enthusiasm around AI infrastructure and spending could be a major driver of QQQ's performance.
How High Could QQQ Go?
Short-term forecasts are a bit more cautious than Monday's rally might suggest. StockInvest.us upgraded QQQ from Hold to Buy after the session but projects just a 0.42% increase over the next three months. Its model gives QQQ a 90% probability of ending that period between $666.37 and $744.60.
The longer-term outlook is considerably more bullish. TipRanks calculates an average 12-month QQQ price target of $880 based on analyst targets for 101 companies held by the ETF. Its estimates range from $647 to $1,185. However, this is a holdings-based projection rather than a direct Wall Street price target for QQQ itself.
(Source: TipRanks)
For now, the immediate test is whether QQQ can clear its $748.65 52-week high and establish a fresh breakout above the psychologically important $750 level.
