On December 9, 2024, Google’s (GOOG) “Alphabet” made an announcement that has set off a chain reaction of investing in what is likely to be the new frontier of computing.
The company released the first details on it’s “Willow” chip, a quantum computing semiconductor that leaps ahead of current technology.
Google’s Willow chip advances quantum computing with scalable, fault-tolerant superconducting qubits. The chip’s enhanced stability and error correction enable more reliable quantum calculations.
Designed for real-world applications, Willow pushes quantum supremacy forward, targeting breakthroughs in cryptography, optimization, and material science, solidifying Google’s leadership in practical quantum computing innovation.
While Google is likely to establish a standard for quantum computing with its error correcting chips, there are two other companies that are forging paths in the quantum computing field worth eyeing.
Quantum systems can simulate complex molecules, accelerating drug discovery and personalized medicine development. This capability reduces R&D timelines, identifying effective treatments and cures for diseases faster than classical methods.
Quantum computing can optimize portfolios, analyze market trends, and enhance risk modeling. Its superior computational power improves decision-making speed, enabling financial institutions to stay ahead in dynamic markets.
Quantum computing solutions can optimize supply chains by solving routing and scheduling problems in real time. Companies can reduce costs, improve efficiency, and handle disruptions more effectively than with traditional computing.
IonQ Inc. (IONQ) stands out in quantum computing by using trapped ion technology, unlike competitors that rely on superconducting qubits. Trapped ions offer higher coherence times and greater stability, enabling more precise quantum operations.
Unlike superconducting qubits, which require extremely low temperatures, IonQ’s trapped ion approach is less temperature-dependent, simplifying the hardware. This makes their systems more scalable and adaptable for practical applications.
IonQ also emphasizes cloud-based accessibility, partnering with platforms like AWS, Azure, and Google Cloud to democratize quantum computing. Their focus on error correction and modular designs positions IonQ as a leader in building reliable, scalable, and accessible quantum systems.
Over the last three months, shares of IONQ have rallied more than 450% as they have continued a volatility driven rally higher.
Two weeks ago, IonQ shares experienced a healthy correction as shares dropped more than 20% in just one week’s trading. That pullback found support at the stock’s 20-day moving average, referred to as the “Trader’s Trendline”.
Following the correction from overbought levels, IonQ shares continued their ascent from $30 to their current price of $46, a 50% climb in value.
Speculators are likely to continue bidding this and other quantum computing stocks higher as the industry is beginning to take center stage for speculators looking for the next technology innovation.
Shares of IONQ are in a bull market trend with a price target of $75.
Rigetti Computing (RGTI) is another trailblazer in the field of quantum computing, dedicated to building quantum processors and software that solve complex problems beyond the capabilities of traditional computers.
The company uses superconducting qubits technology that offers faster and more efficient solutions for industries like finance, healthcare, aerospace, and artificial intelligence.
The company’s hybrid quantum-classical cloud platform allows developers and businesses to harness the power of quantum computing for optimization, modeling, and machine learning tasks.
With a strong focus on innovation and scalability, Rigetti is at the forefront of driving real-world applications and shaping the future of quantum technology.
Rigetti is Preparing Another Breakaway Rally
Shares of Rigetti stock were trading below $2 in the beginning of November. Today, the shares are priced at $9.37.
Last week, the stock struck new highs of almost $13 before dropping more than 45% to support at $7. Investors quickly started buying the exaggerated dip, currently driving the price back towards a break above $10.
$10 is a key psychological price level that when broken, attracts more buyers. That buying interest will once again act as a catalyst for shares of RGTI to start pressing higher in a “Volatility Rally”.
Keep in mind that Rigetti is clearly a speculative play as investors should consider the company still in its development phase. Quantum computing is still more than 5-10 years away from being a daily reality, so speculation is an understatement when it comes to describing investing activity in the stock.
Watch for the next break above $10 to trigger another wave of speculative activity that should target $20 for Rigetti shares.
