Invesco NASDAQ 100 ETF drops 7% in October but seen as a buy on strong tech earnings growth and AI exposure.

The Invesco NASDAQ 100 ETF (QQQM) fell 7.07% in October, reflecting broad selling driven by fears around capital expenditures. Despite this, the ETF's top holdings trade at a reasonable 15.7 times next year's earnings, with strong double-digit earnings growth expected from major tech companies. The fund's heavy concentration in technology (59.2%) and its top 10 holdings (46.6% of assets) increases volatility but also offers exposure to AI and capital expenditure cycles. The analyst expects QQQM to recover to its 52-week high of $314.12 within 12 months and recommends buying more shares if prices drop to $270 or below.

Following the recent sharp pullback in QQQM, the Invesco NASDAQ 100 ETF is trading at USD 284.35 on Pluang as of Nov 02, 2026 01:11 WIB, down 3.48% in the last day. This price remains below its 52-week high of USD 312.76 but above the 52-week low of USD 229.87. The fund's market capitalization on Pluang stands at $106.03 billion, with investors typically holding for around 61 days.