Nvidia, IBM, and Alphabet Lead Quantum Computing Market, Expected to Reach $72 Billion by 2035
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Fool
- Massive Market Potential: McKinsey estimates the quantum computing market could grow from $4 billion today to $72 billion by 2035, highlighting the rapid development potential of the industry and attracting investor interest.
- Nvidia's Technological Edge: Nvidia's NVQLink architecture hybridizes quantum and classical computing, driving its revenue growth at a compound annual growth rate of 87% over the past three years, showcasing its leadership in the quantum computing space.
- IBM's Steady Progress: IBM has been working on quantum computing since the 1970s, with its Nighthawk quantum processor currently featuring 120 qubits, and is expected to support over 15,000 two-qubit gates by 2028, demonstrating its ongoing innovation in quantum technology.
- Google's Frontier Breakthrough: Alphabet's Willow quantum computer solved a complex math problem in five minutes, showcasing its leadership in quantum hardware while halving the error rate, marking a significant advancement in quantum computing.
Analyst Views on GOOGL
Wall Street analysts forecast GOOGL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GOOGL is 338.25 USD with a low forecast of 279.00 USD and a high forecast of 390.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
34 Analyst Rating
27 Buy
7 Hold
0 Sell
Strong Buy
Current: 332.780
Low
279.00
Averages
338.25
High
390.00
Current: 332.780
Low
279.00
Averages
338.25
High
390.00
About GOOGL
Alphabet Inc. is a holding company. The Company's segments include Google Services, Google Cloud, and Other Bets. The Google Services segment includes products and services such as ads, Android, Chrome, devices, Google Maps, Google Play, Search, and YouTube. The Google Cloud segment includes infrastructure and platform services, collaboration tools, and other services for enterprise customers. Its Other Bets segment is engaged in the sale of healthcare-related services and Internet services. Its Google Cloud provides enterprise-ready cloud services, including Google Cloud Platform and Google Workspace. Google Cloud Platform provides access to solutions such as artificial intelligence (AI) offerings, including its AI infrastructure, Vertex AI platform, and Gemini for Google Cloud; cybersecurity, and data and analytics. Google Workspace includes cloud-based communication and collaboration tools for enterprises, such as Calendar, Gmail, Docs, Drive, and Meet.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
