On November 24, Scott Chronert, Citi US equity strategist, joined CNBC’s ‘Squawk on the Street’ to discuss where the market stands heading into the end of the year. Chronert used the term ‘exhausation’ in his recent note regarding the markets and explained that the concept of exhaustion relates to the way the current year has unfolded for investors. The year started with the complex issue of the deep-seek issue confounding the AI narrative. This was followed by the springtime Liberation Day tariff influence, and then the market had to contend with the deficit and surrounding issues during the summer months. More recently, Q3 earnings results have been very good, but there has not been that much in the way of stock price follow-through. Considering all these factors, Chronert observed that it has been a really difficult year for many investors to navigate. Despite the difficulties, the market is still up by low teens. Because of this tough but successful navigation, Chronert’s view is that it would not be surprising to see many investors use the upcoming holiday period to start locking things in for the year.
Chronert also stated that the market is currently right around the level of ‘full value’ when it comes to valuations. He stated that this target is their approximation of fair value, which is determined by looking at several metrics, including earnings growth over the next couple of years and a valuation assumption predicated on the current rate environment and other metrics. Therefore, they feel the market has already been discounting earnings expectations for some time. For the market to move materially higher from its current position, it needs to see future earnings growth projections continue to ramp.
That being said, we’re here with a list of the 12 best QQQ stocks to buy according to Wall Street analysts.
Our Methodology
We sifted through the Invesco QQQ exchange-traded fund (ETF) holdings to find the 12 best stocks that had an upside potential of over 30%. The stocks are ranked in ascending order of their upside potential. We have also added the hedge fund sentiment for each stock, as of Q2 2025, which was sourced from Insider Monkey’s database.
Note: All data was sourced on November 21.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
12 Best QQQ Stocks to Buy According to Wall Street Analysts
12. T-Mobile US Inc. (NASDAQ:TMUS)
Number of Hedge Fund Holders: 76
Average Upside Potential as of November 21: 30.08%
T-Mobile US Inc. (NASDAQ:TMUS) is one of the best QQQ stocks to buy according to Wall Street analysts. On November 21, Oppenheimer downgraded T-Mobile to Perform from Outperform, while removing the firm’s $300 price target on the shares. Oppenheimer suspects that T-Mobile will struggle to exceed subscriber and free cash flow estimates, given its decade of exceptional market share gains and margin expansion. The firm forecasts that overall industry subscriber growth is slowing, which will heighten competition that is expected to persist for 12 to 24 months.
Earlier in its Q3 2025 earnings call, the company reported achieving its best-ever total postpaid net additions, including over 1 million postpaid phone net additions. This led the company to raise its total postpaid net additions guidance to a range of 7.2 to 7.4 million for the full year, an increase of over 1 million at the midpoint. The company made a total of $21.96 billion in revenue, which was an 8.90% increase year-over-year, although it missed Street estimates by $7.29 million. The company also made $2.77 in EPS, which exceeded guidance by $0.20.
T-Mobile’s 5G broadband business added 500,000+ customers, and the company also added 50,000+ new customers to its fiber business. Consequently, the fiber customer net additions guidance was raised to ~130,000, up from the previous 100,000.
T-Mobile US Inc. (NASDAQ:TMUS) provides wireless communications services in the US, Puerto Rico, and the United States Virgin Islands. The company offers voice, messaging, and data services to postpaid, prepaid, and wholesale & other services customers.
11. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 294
Average Upside Potential as of November 21: 34.08%
Microsoft Corporation (NASDAQ:MSFT) is one of the best QQQ stocks to buy according to Wall Street analysts. On November 18, Microsoft, NVIDIA, and Anthropic announced a series of new strategic partnerships focusing on scaling Anthropic’s rapidly growing Claude AI model, which involves Anthropic adopting NVIDIA architecture and both Microsoft and NVIDIA investing in the company.
Anthropic is scaling its Claude AI model on Microsoft Azure, which is powered by NVIDIA infrastructure. This move is expected to broaden access to Claude and provide Azure enterprise customers with expanded model choice and new capabilities. As part of this commitment, Anthropic has agreed to purchase $30 billion of Microsoft Azure compute capacity and contract for additional capacity up to one gigawatt.
Furthermore, Microsoft and Anthropic are expanding their existing partnership to offer broader access to Claude for businesses. Microsoft has committed to investing up to $5 billion in Anthropic. Customers of Microsoft Foundry will gain access to Anthropic’s frontier Claude models, including Claude Sonnet 4.5, Claude Opus 4.1, and Claude Haiku 4.5. This collaboration will make Claude the only frontier model available across all three of the world’s most prominent cloud services. Microsoft also committed to continuing access for Claude across its Copilot family.
Microsoft Corporation (NASDAQ:MSFT) develops and supports software, services, devices, and solutions worldwide.
10. AppLovin Corporation (NASDAQ:APP)
Number of Hedge Fund Holders: 109
Average Upside Potential as of November 21: 34.55%
AppLovin Corporation (NASDAQ:APP) is one of the best QQQ stocks to buy according to Wall Street analysts. On November 7, Wells Fargo raised the firm’s price target on AppLovin to $721 from $633 and kept an Overweight rating on the shares. This sentiment was posted after the company released its Q3 2025 earnings call and reported another strong quarter. Wells Fargo believes that most of this performance was driven by mobile gaming, rather than web ads.
In Q3, the company experienced a rapid expansion of the MAX platform ecosystem, fueled by higher-quality ads and increased demand density. A key indicator of potential future growth is the observed 50% week-over-week growth in e-commerce customer spend, though the CEO, Adam Foroughi, noted this is early in the ramp-up phase. AppLovin’s strategy to enhance conversion rates revolves around model improvements and using AI technologies, including the nascent use of neural networks. A major focus is on expanding advertiser density to improve personalized advertising.
Furthermore, the company is in the early stages of developing GenAI-based creative tools to automatically create ad creatives. While this is expected to significantly increase conversion rates once fully implemented, the current early development phase means the full impact is still delayed. Applovin was able to make a revenue of $1.41 billion, which rose 17.26% year-over-year and exceeded Street estimates by $62.88 million. The company earned $2.45 per share, which also beat guidance by $0.06
AppLovin Corporation (NASDAQ:APP) builds a software-based platform for advertisers to enhance the marketing and monetization of their content in the US and internationally. It operates through two segments: Advertising and Apps.
9. DexCom Inc. (NASDAQ:DXCM)
Number of Hedge Fund Holders: 60
Average Upside Potential as of November 21: 41.13%
DexCom Inc. (NASDAQ:DXCM) is one of the best QQQ stocks to buy according to Wall Street analysts. On November 10, Morgan Stanley cut the price target on DexCom to $63 from $89, while maintaining an Overweight rating on the shares.
Additionally, on November 3, Truist also lowered the firm’s price target on DexCom to $82 from $94 with a Buy rating on the shares. Truist noted that the company achieved only a modest beat on its Q3 2025 earnings and revenue targets. However, the reported gross margins were weaker than anticipated. The firm now expected analysts to lower their future financial estimates.
In the said quarter, DexCom reported making $1.21 billion in worldwide revenue, which marked a 22% year-over-year increase, or 20% organic growth. This performance resulted in the company achieving the highest quarterly EPS in its history, with a net income of $242.5 million, or $0.61 per share.
Despite the record revenue, the company’s gross profit margin saw a decline, falling to 61.3% from 63% in Q3 2024 due to higher-than-expected scrap rates at manufacturing facilities. The company therefore lowered its 2025 non-GAAP gross profit margin guidance to ~61%. However, DexCom raised its overall revenue guidance for the year to a range of $4.630 to $4.650 billion.
DexCom Inc. (NASDAQ:DXCM) is a medical device company that designs, develops, and commercializes continuous glucose monitoring/CGM systems in the US and internationally.
8. Copart Inc. (NASDAQ:CPRT)
Number of Hedge Fund Holders: 61
Average Upside Potential as of November 21: 42.40%
Copart Inc. (NASDAQ:CPRT) is one of the best QQQ stocks to buy according to Wall Street analysts. On November 21, Baird cut the firm’s price target on Copart to $52 from $55 and kept an Outperform rating on the shares. This sentiment was posted as a part of the firm’s broader update on its model as insurance headwinds persist.
In other news, Copart also posted its Q3 2025 earnings report on the same day, where the company disclosed making a total revenue for the quarter increased just under 1% year-over-year to $1.16 billion, but showed 2.9% growth when excluding the non-recurrence of catastrophic events from the prior year. This led to a gross profit increase of 4.9% to $537 million, with the gross margin improving by 1.84% to 46.5%. Net income rose by 11.5% to $404 million, and EPS increased by 10.8% to $0.41.
Profitability for the said quarter was largely driven by an increase in average selling prices/ASPs and auction liquidity. Global insurance ASPs grew by 6.8%, with US insurance ASPs reaching an all-time high, increasing by 8.4% from the prior year. This price strength contributed to a 12.3% increase in gross profit per fee unit and a higher US Gross Margin of 48.7%.
Copart Inc. (NASDAQ:CPRT) provides online auctions and vehicle remarketing services in the US, the UK, Germany, Brazil, Canada, the UAE, Spain, Finland, Oman, the Republic of Ireland, and Bahrain.
7. Meta Platforms Inc. (NASDAQ:META)
Number of Hedge Fund Holders: 260
Average Upside Potential as of November 21: 43.04%
Meta Platforms Inc. (NASDAQ:META) is one of the best QQQ stocks to buy according to Wall Street analysts. On November 12, Meta announced that it selected Minneapolis-based Mortenson as the general contractor for its new data center campus in Beaver Dam, Wisconsin. The project represents a $1 billion investment from Meta. This state-of-the-art facility will span 700,000 square feet and is designed to be optimized for the company’s growing AI workloads.
The Beaver Dam campus will be Meta’s 30th data center worldwide and its 26th in the US, with an expected completion and operational start date in 2027. The construction of the Beaver Dam campus is expected to create over 1,000 skilled construction jobs at its peak. Once operational, the facility will support ~100 permanent operational jobs.
This buildout arrives at a time when data center construction is outpacing most other nonresidential building sectors nationwide. Meta has committed ~$200 million to underwrite energy infrastructure investments, which will cover costs associated with building the campus, including network upgrades, transmission lines, and utility substations.
Meta Platforms Inc. (NASDAQ:META) develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality & mixed reality headsets, augmented reality, and wearables worldwide.
6. Charter Communications Inc. (NASDAQ:CHTR)
Number of Hedge Fund Holders: 56
Average Upside Potential as of November 21: 45.32%
Charter Communications Inc. (NASDAQ:CHTR) is one of the best QQQ stocks to buy according to Wall Street analysts. Earlier on November 3, RBC Capital analyst Jonathan Atkin lowered the firm’s price target on Charter to $265 from $325 with a Sector Perform rating on the shares. This sentiment was posted after the company posted its Q3 2025 earnings result, where Atkin pointed out that the company’s third-quarter EBITDA and broadband subscriber numbers missed estimates. RBC Capital has since lowered its forecasts for broadband subscribers and ARPU, anticipating increased competition.
In Q3, the company experienced a 1% year-over-year decline in revenue, which totaled $13.67 billion, primarily due to customer losses and a challenging comparison to the prior year’s political advertising revenue. EBITDA declined by 1.5% year-over-year, though it was flat when excluding the advertising segment. Net income for the quarter was $1.1 billion, down from $1.3 billion in the previous year.
Despite the revenue decline, Charter saw significant positive growth in its mobile segment, adding 493,000 mobile lines, which marked over 20% year-over-year growth and contributed to a 4% growth in total connectivity revenue over the last 12 months. The company also reported a notable improvement in its video business, reducing Video Customer losses to 70,000, a vast improvement from the 294,000 lost in the same quarter last year. However, the company also lost 109,000 Internet Customers in Q3.
Charter Communications Inc. (NASDAQ:CHTR) operates as a broadband connectivity and cable operator company serving residential and commercial customers in the US.
5. CoStar Group Inc. (NASDAQ:CSGP)
Number of Hedge Fund Holders: 59
Average Upside Potential as of November 21: 45.72%
CoStar Group Inc. (NASDAQ:CSGP) is one of the best QQQ stocks to buy according to Wall Street analysts. On November 17, Wells Fargo lowered the firm’s price target on CoStar Group to $60 from $70 and kept an Underweight rating on the shares. Wells Fargo’s sentiment was announced after the firm spoke with Lawrence Frankel, a former government antitrust lawyer, to understand the potential impact of new lawsuits filed by the Federal Trade Commission/FTC and Compass against Zillow and Redfin. Wells Fargo believes that these lawsuits are neutral to slightly good news for CoStar.
In other news, CoStar Group recently released its Q3 2025 earnings report, where the company disclosed making $834 million in revenue, which was a 20% year-over-year increase. Adjusted EBITDA rose by 51% to $115 million. Total net new bookings saw massive growth and reached $84 million, up 92%.
CoStar faced several challenges in the said quarter, including the previously mentioned significant legal challenges against competitor Zillow, including CoStar’s $1 billion-plus copyright infringement claim and the FTC’s antitrust suit against Zillow and Redfin over rental advertising, which could alter the competitive market. The company also faces the resource strain of integrating new acquisitions like Domain and allocating resources to AI technologies, which may not yield immediate returns.
CoStar Group Inc. (NASDAQ:CSGP) provides information, analytics, and online marketplace services in the US, Canada, Europe, the Asia Pacific, and Latin America.
4. Thomson Reuters Corporation (NASDAQ:TRI)
Number of Hedge Fund Holders: 33
Average Upside Potential as of November 21: 46.67%
Thomson Reuters Corporation (NASDAQ:TRI) is one of the best QQQ stocks to buy according to Wall Street analysts. Earlier on November 5, JPMorgan cut the price target on Thomson Reuters to $160 from $178 with a Neutral rating on the shares following the company’s Q3 2025 earnings report release.
In its Q3 earnings call, the company reported generating $1.78 billion in quarterly revenue, which rose by 3.36% year-over-year and also surpassed guidance by $2.80 million. At the same time, the company also earned $0.85 per share, which was $0.02 higher than Street estimates. This performance led to an adjusted EBITDA of $672 million, which was a 10% increase.
The company is focused on being at the forefront of the AI transformation in both product development and internal processes. The new Agentic AI offerings, such as Westlaw Advantage and CoCounsel, are receiving strong positive customer reactions. Despite increasing competition in the AI assistant space, the company is confident in its market-leading position.
Thomson Reuters Corporation (NASDAQ:TRI) operates as a content and technology company in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print.
3. Microchip Technology Incorporated (NASDAQ:MCHP)
Number of Hedge Fund Holders: 54
Average Upside Potential as of November 21: 54.22%
Microchip Technology Incorporated (NASDAQ:MCHP) is one of the best QQQ stocks to buy according to Wall Street analysts. On November 10, Truist analyst William Stein lowered the firm’s price target on Microchip to $60 from $64 while maintaining a Hold rating on the shares. This decision was made as the firm noted that the company beat Q3 2025 modestly, but guided Q4 somewhat below consensus.
In its Q3 report, the company announced that its net sales for the December quarter were $1.026 billion, which was a sequential drop of 11.8% and a steep 41.9% year-over-year decline. This broad-based weakness was noted across all major geographies and product lines, including microcontrollers and analog. The company reported a Non-GAAP net income of $107.3 million, which led to Non-GAAP EPS of $0.20.
Looking ahead, the company guided for the March quarter net sales to be between $920 million and $1 billion. Despite the near-term difficulties, Microchip is focused on innovation and efficiency. The company introduced a new generation of 64-bit RISC-V processors with advanced AI capabilities, which has seen a strong initial customer response. It also expanded its Wi-Fi portfolio with 20 new products for secure wireless connectivity and achieved the highest level of space certification for its radiation-hardened chips.
Microchip Technology Incorporated (NASDAQ:MCHP) develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. It operates through two segments: Semiconductor Products and Technology Licensing.
2. DoorDash Inc. (NASDAQ:DASH)
Number of Hedge Fund Holders: 100
Average Upside Potential as of November 21: 64.79%
DoorDash Inc. (NASDAQ:DASH) is one of the best QQQ stocks to buy according to Wall Street analysts. On November 19, Jefferies analyst John Colantuoni upgraded DoorDash to Buy from Hold with a price target of $260, which was also upgraded from $220. Colantuoni noted that DoorDash’s lower-than-expected 2026 outlook is beneficial, as it gives the company flexibility for long-term investments and creates potential upside for consensus estimates.
The company is anticipated to make a revenue of ~$17.87 billion for the full-year 2026, with EPS coming around $6.32. Earlier the same month, DoorDash reported that the company generated $3.45 billion in net sales for Q3 2025, which was up 27.35% and beat estimates by $89.10 million. The company’s EPS for the quarter stood at $1.28, which was $0.03 higher than the guidance.
One of the company’s current core strategies is a multi-million-dollar investment in building a new global tech platform in 2026 to unify the tech stack across all markets, making it AI-native to streamline operations, enhance product development, and ultimately lead to long-term cost savings. The decision to build a single architecture was driven by the need for efficiency and faster global feature rollouts, particularly given advancements in AI.
DoorDash Inc. (NASDAQ:DASH) operates a commerce platform that connects merchants, consumers, and independent contractors in the US and internationally.
1. Axon Enterprise Inc. (NASDAQ:AXON)
Number of Hedge Fund Holders: 62
Average Upside Potential as of November 21: 71.08%
Axon Enterprise Inc. (NASDAQ:AXON) is one of the best QQQ stocks to buy according to Wall Street analysts. On November 17, RBC Capital initiated coverage of Axon with an Outperform rating and $860 price target. This sentiment came out as RBC Capital believes that Axon is expected to sustain its 25% revenue growth due to a strong position in a large and growing addressable market.
Earlier the same month, the company released its Q3 2025 earnings report, where Axon Enterprise disclosed that it generated a total revenue of $711 million, which was a 31% increase year-over-year. This performance was led by the SaaS segment, which grew 41% year-over-year to $305 million. Connected Devices revenue also saw an increase of 24% year-over-year to $405 million.
Key product growth drivers included TASER 10, which led to a 17% TASER Revenue Growth, and Axon Body 4, driving a 20% Personal Sensors Revenue Growth. The Platform Solutions Revenue saw the most rapid expansion, surging 71%, driven by counter-drone technology, virtual reality, and fleet products. Additionally, the company’s ARR grew 41% to $1.3 billion, with net revenue retention remaining strong at 124%. For Q4, Axon provided revenue guidance of $750 to $755 million with a full-year revenue guidance of ~$2.74 billion (representing 31% growth at the midpoint).
Axon Enterprise Inc. (NASDAQ:AXON) develops, manufactures, and sells conducted energy devices/CEDs under the TASER brand in the US and internationally. It operates through two segments: Software & Sensors and TASER.
While we acknowledge the potential of AXON to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AXON and that has 100x upside potential, check out our report about the cheapest AI stock.
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Disclosure: None.
