Quantum computing stocks plummeted following remarks from Nvidia (NASDAQ: NVDA) CEO Jensen Huang, who commented that ‘very useful’ quantum computers are likely decades away. Huang’s cautious outlook dampened investor enthusiasm that had fueled a sharp rise in these stocks over the past year. While Huang expressed optimism about Nvidia’s role in accelerating quantum advancements, his comments signaled that the technology’s widespread application remains far from imminent…..Continue reading…
Source: Finbold
.
Critics:
Valuation metrics show that Quantum Corporation may be overvalued. Its Value Score of D indicates it would be a bad pick for value investors. The financial health and growth prospects of QMCO, demonstrate its potential to underperform the market. It currently has a Growth Score of C. Quantum Computing Stocks Dive After Nvidia CEO Says Tech 15-30 Years Away.
Quantum computing stocks such as IonQ and Rigetti Computing have skyrocketed in recent months. Quantum computing remains a fairly speculative market. If you want exposure to quantum computing, a passive exchange-traded fund (ETF) may be the better solution.Valuation metrics show that QuantumScape Corporation may be fairly valued. Its Value Score of C indicates it would be a neutral pick for value investors.
The financial health and growth prospects of QS, demonstrate its potential to perform inline with the market. It currently has a Growth Score of D. It will become a fundamental tool for scientific research, making it easier to solve problems that were previously impossible. Researchers are making continuous progress in increasing the coherence times of qubits, reducing error rates, and developing new quantum algorithms.
The exchange between Musk and Pichai quickly evolved into a fascinating discussion about the future of quantum technology and humanity’s energy needs. When Pichai suggested the possibility of building a “quantum cluster in space” using Musk’s Starship, Musk replied, “That will probably happen.”IBM is pushing the field of quantum computing forward with Condor, the world’s largest quantum chip, and Heron, the company’s best-performing quantum chip to date.
Quantum computing 101: Classical computers use binary digits, or “bits,” to process and store data. These are just a few of the possibilities that may be enabled by quantum computing, which harnesses the laws of physics to perform calculations much faster than even the most powerful traditional computers. They all hinge on research here in the United States, the world’s undisputed leader in quantum computing.
(NYSE:IONQ) is a compelling pure-play investment, that is well-placed to capitalize on quantum computing’s rapid growth. This growth is driven by the increasing inadequacy of classical computing for solving complex problems . Quantum Processing Units (QPUs) implement a new model of computing with potential impact across industries. Turning QPUs into useful quantum computers means integrating them with state-of-the-art AI supercomputers.
NVIDIA is working with QPU developers to build such useful, accelerated quantum supercomputers. Every year, the tech giant spends close to $1 billion in research and development in emerging tech, including quantum computing and AI. This strategy has proved fruitful, with the company holding over 3,000 patents in these domains. Microsoft has also heavily invested in the quantum programming ecosystem. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock.
On further gains, the stock will meet resistance from the short-term Moving Average at approximately $56.08. You can profit from that growth by investing in the startups or Big Tech firms building quantum computers, or by investing in firms that manufacture the components. Alternatively, you could invest in sectors set to benefit from the advent of quantum computing, like Big Data, biotech, and cybersecurity.
Gates, who is a backer of electric vehicle battery maker QuantumScape, added that he was going to try to stay involved in the “higher quality” SPACs. QuantumScape and Evolv Technology are two Gates-backed companies that have taken the SPAC path recently. QuantumScape has a consensus rating of Hold which is based on 1 buy ratings, 4 hold ratings and 1 sell ratings.
The average price target for QuantumScape is $6.46. This is based on 6 Wall Streets Analysts 12-month price targets, issued in the past 3 months. Quantum computing can potentially enhance AI’s capabilities by removing the limitations of data size, complexity, and the speed of problem solving.” Researchers are already working on enhancing current AI methods in research by applying quantum computing methods to protein structure prediction.
Leave a Reply