Quantum computing stocks to check out in the stock market now.
Quantum computing, at its simplest, is a new kind of computing technology that uses the principles of quantum physics. Traditional computers use bits for processing information, with each bit being either a 0 or a 1. Quantum computers, on the other hand, use quantum bits, or qubits. Qubits are different because they can be both 0 and 1 at the same time. This is thanks to a quantum property called superposition. This means they can handle vast amounts of information and do complex calculations at speeds far greater than those of traditional computers.
Investing in quantum computing companies can be an exciting venture, as this technology has the potential to revolutionize numerous sectors including cybersecurity, pharmaceuticals, artificial intelligence, and more. However, it’s important to remember that this is a field in its early stages, and as with any emerging technology, there can be significant risks involved. As a result, most quantum computing companies are not yet profitable, and their stocks can be quite volatile. Therefore, investing in quantum computing stocks requires patience and a willingness to endure potential short-term losses for long-term gains.
As of now, there are a number of companies actively working in the field of quantum computing. Some are pure-play quantum companies, meaning they are entirely focused on this area, while others are large tech firms that have a variety of other businesses but are also investing heavily in quantum technology. Keep in mind, investing in quantum computing stocks isn’t just about picking one winner, but about recognizing the potential of the technology as a whole. As you delve into this fascinating field, it’s essential to stay informed and make educated decisions about your investments. With that being said, here are two quantum computing stocks to watch in the stock market today.
Quantum Computing Stocks To Watch Now
- Alphabet Inc. (NASDAQ: GOOGL)
- Applied Materials Inc. (NASDAQ: AMAT)
Alphabet (GOOGL Stock)
Leading off, Alphabet Inc. (GOOGL) through its subsidiary Google, has demonstrated “quantum supremacy” with its 53-qubit quantum computer, Sycamore, which performed a specific task in minutes that they claimed would take a classical computer thousands of years. Google’s Quantum AI lab is actively researching quantum computing and algorithms, making Alphabet another tech giant offering diversified exposure to the quantum sector.
In April, Alphabet Inc. disclosed its first-quarter 2023 financial results which surpassed the market’s predictions. Specifically, Alphabet recorded earnings per share (EPS) of $1.17, paired with total revenue of $69.8 billion. This outcome outperformed the market’s consensus projections for the quarter, which anticipated an EPS of $1.06 and revenues amounting to $68.9 billion.
In the last month of trading, shares of GOOGL stock are trading higher by 16.69%. Meanwhile, on Wednesday morning, Alphabet stock is trading slightly lower off the open by 1.21% at $125.77 a share.
Source: TD Ameritrade TOS
Applied Materials (AMAT Stock)
Second, Applied Materials Inc. (AMAT) is a global leader in materials engineering solutions, primarily for the semiconductor industry. Although not directly involved in building quantum computers, the company’s role in the production of advanced chips and technologies is crucial for the progression of quantum computing. Their tools and software are used in the fabrication of quantum chips, giving them indirect exposure to the quantum industry.
Last month, Applied Materials unveiled the Momentum Fund. This is a project aimed at supporting women, especially those from underrepresented backgrounds in the semiconductor industry. This effort builds on their Generation Girl initiative, which has been encouraging girls from low-income and minority communities to pursue STEM education and careers. The goal is to address the gender gap in engineering and promote diversity in tech.
Looking at the last month of trading action, Applied Materials stock has advanced by 17.45%. While, during Wednesday’s mid-morning trading session, shares of AMAT stock are trading at $135.99 a share.
Source: TD Ameritrade TOS
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Originally Posted June 7, 2023 – Stocks To Consider Now? 2 Quantum Computing Stocks To Know
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