It was a broadly positive day for investors tracking the Nasdaq-100 through the popular QQQ exchange-traded fund, which rose 0.4% on Wednesday, April 9, 2026. The gains were spread across several of the fund’s largest holdings, though one name stood above the rest: Amazon, whose stock surged 4.9% and gave the ETF its biggest single-stock lift of the session.
QQQ, which tracks 100 of the largest non-financial companies listed on the Nasdaq, is closely watched as a barometer for the health of the tech sector. When its top constituents move meaningfully in either direction, the ETF tends to follow. Wednesday was a reminder of just how much influence a handful of mega-cap names can have on the fund’s daily performance.
10 stocks that drove QQQ higher
Ten holdings made notable contributions to the ETF’s gains on the day. Here is how each of them performed:
- Amazon, which makes up 4.6% of QQQ’s holdings, rose 4.9% and was the single largest contributor to the fund’s move higher.
- Meta, representing 3.4% of the fund, gained 3.6%, adding meaningful weight to the rally.
- Nvidia, the ETF’s largest individual holding at 8.7%, climbed 0.7%, a modest but still additive gain given its outsized share of the fund.
- Broadcom, at 3.0% of holdings, rose 2.0%.
- Lam Research, representing 1.5% of the fund, jumped 3.8%.
- Walmart, another 3.4% holding, added 1.3%.
- Applied Materials, at 1.6%, gained 2.5%.
- Netflix, making up 2.3% of QQQ, climbed 1.6%.
- Advanced Micro Devices, representing 2.0% of the fund, rose 1.8%.
- Intel, at 1.4% of holdings, gained 2.3%.
Amazon insiders have been active sellers
While Amazon’s stock had a strong day, activity among the company’s insiders tells a different story about how those closest to the business have been positioning themselves. Over the past six months, Amazon insiders have executed 62 open-market trades, and every single one of them has been a sale, with zero purchases recorded during that period.
Among the most active sellers, the CEO of Worldwide Amazon Stores made 22 sales totaling roughly 53,000 shares. The company’s president and CEO accounted for 10 sales covering nearly 40,000 shares, while the senior vice president and the CEO of Amazon Web Services each completed 10 to 12 transactions of their own. Several board members and other executives also trimmed their positions during the period.
Wall Street remains firmly bullish on Amazon
Despite the insider selling, Wall Street analysts have shown no signs of pulling back their enthusiasm for the stock. Over the past several months, 21 firms have issued buy-equivalent ratings on Amazon, with zero sell ratings recorded. Recent calls have come from firms including Citizens, TD Cowen, Guggenheim, Oppenheimer, Rosenblatt, Mizuho and RBC Capital, all of whom have expressed favorable outlooks.
On the price target front, 34 analysts have weighed in over the last six months, arriving at a median target of $300. The most recent targets have ranged from $260 to $315, reflecting a range of views on how much further the stock can run from current levels.
Wednesday’s session was a strong one for QQQ holders, and Amazon was at the center of it all.
Source: Quiver Quantitative
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