Quantum Computing Stocks Surge, Investment Outlook Positive
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6h ago
0mins
Source: Fool
- Quantum Computing Potential: Quantum computing technology relies on the behavior of subatomic particles for calculations, and despite the complexity of building quantum systems and numerous challenges, its potential makes it a game changer for future technology.
- Stock Price Surge: Over the past three years, pure play companies like D-Wave Quantum, Rigetti Computing, and IonQ have seen their stock prices soar in quadruple digits, attracting investors eager to capitalize on the strong market interest in quantum computing.
- Involvement of Tech Giants: Tech giants such as Microsoft and Alphabet are developing their own quantum chips, and while it may take years for quantum computing to become widely applicable, these companies are generating revenue by offering quantum hardware through cloud services.
- Long-term Investment Advice: Although quantum computing companies may report breakthrough developments in the coming years, investors need to be patient, as the long-term return potential is significant, indicating that now is a great time to invest in these stocks.
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: 322.000
Low
279.00
Averages
338.25
High
390.00
Current: 322.000
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.
