Quantum Computing stocks to watch in the stock market today.
Quantum computing represents a groundbreaking advancement in computing technology. It operates on the principles of quantum mechanics, differing significantly from classical computing. Quantum computers use quantum bits, or qubits, enabling them to process complex calculations at unprecedented speeds. This technology has the potential to revolutionize various fields, including cryptography, drug development, and complex system modeling.
Investing in quantum computing stocks is gaining attention as the technology evolves. Companies engaged in quantum computing are often at the forefront of research and development in this area. These investments can offer significant growth potential as quantum computing matures. However, they also come with notable risks. The technology is still in its early stages, and practical applications are yet to be fully realized. This makes investments in quantum computing stocks speculative in nature.
Potential investors should consider the high level of technical expertise required to evaluate these stocks. The field is complex and rapidly evolving, making it challenging for non-experts to assess. Furthermore, due to its nascent stage, the market for quantum computing is highly volatile. This can lead to significant fluctuations in stock prices. Investors interested in quantum computing stocks should be prepared for a long-term investment horizon and be willing to tolerate potentially high levels of risk. That said, let’s look at two quantum computing stocks to watch in the stock market today.
Quantum Computing Stocks To Buy [Or Avoid] Now
- IonQ Inc. (NYSE: IONQ)
- Microsoft Corporation (NASDAQ: MSFT)
IonQ (IONQ Stock)
Leading off, IonQ Inc. (IONQ) is a pioneering company in the field of quantum computing. The company focuses on developing full-stack quantum computing systems. IonQ’s technology is based on trapped ion quantum computing, which is distinct from other quantum computing approaches. The company aims to make quantum computing widely accessible and applicable across various industries.
Today, IonQ announced the availability of its most advanced quantum system, IonQ Forte, through Amazon’s Braket Direct Program. This program, a part of Amazon Web Services (AWS), offers a fully managed quantum computing service. It allows customers to reserve dedicated capacity on various quantum devices, including IonQ Forte, without upfront fees or subscriptions. This new availability not only enhances access to IonQ’s state-of-the-art quantum computing systems but also provides customers with the opportunity to collaborate directly with IonQ’s application development team.
Year-to-date, shares of IONQ stock have jumped by 283.53%. Meanwhile, during Tuesday morning’s trading session, IonQ stock opened lower on the day so far by 4.07%, trading at $13.17 a share.
Microsoft (MSFT Stock)
Next, Microsoft Corporation (MSFT) is a globally recognized technology corporation, with a broad range of products and services. Microsoft has diversified its offerings to include cloud computing services (Azure), gaming (Xbox), hardware (Surface), and more. It has also ventured into the quantum computing space, contributing to the advancement of this emerging technology.
Last month, Microsoft reported better-than-expected financial results for the first quarter of 2024. The company posted earnings of $2.99 per share and a revenue of $56.52 billion in Q1 2024. These figures surpassed the expectations of analysts, who had forecasted an EPS of $2.65 and revenue of $54.49 billion. Additionally, the reported revenue showed an increase of 12.76% compared to the same quarter in the previous year.
In 2023, shares of Microsoft stock have surged by 54.33% year-to-date. Meanwhile, during Tuesday’s morning trading session, MSFT stock opened slightly higher by 0.14% at $369.67 per share.
Source: TD Ameritrade TOS
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Originally Posted December 5, 2023 – 2 Quantum Computing Stocks To Watch In December 2023
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