Fidelity Nasdaq Composite Index ETF [ONEQ] Stock Forecast

The Nasdaq has reported a blockbuster performance in May, helped by the AI frenzy, cheaper valuation, cost-cutting and chances of lower rates ahead.

Looking for broad exposure to the Large Cap Growth segment of the US equity market? You should consider the Fidelity Nasdaq Composite Index ETF (ONEQ), a passively managed exchange traded fund launched on 09/25/2003.

Warren Buffett recommends investing in an S&P 500 index fund for retirement. The S&P 500 can provide instant diversification.

The Nasdaq Composite fell into a bear market in late 2021 as high inflation and rising interest rates weighed on investor sentiment. Historically, the Nasdaq has fallen 36% during the average bear market, and the index has reached a bottom after 200 days.

After being badly beaten down in February, the Nasdaq-100 Index soared in recent weeks. The flight to mega-cap cash-rich technology stocks amid the latest bank turbulence buoyed the index.

The Nasdaq Composite has rebounded from every past bear market, and investors can confidently assume another bull market is coming. The Fidelity Nasdaq Composite ETF has produced a market-crushing return of 502% over the last 15 years.

Style Box ETF report for ONEQ

The tech-heavy Nasdaq Composite Index has gained 10.7% last month, marking its best January performance since 2001. The astounding performance was driven by easing inflation and hopes of the Fed's slower rate hike path.

The Nasdaq composite has witnessed its fastest start to a new year since 2019, per investors.com.

The Nasdaq Composite index produced one of its worst returns in history last year.