Hot Stocks To Buy Right Now? 3 Quantum Computing Stocks To Know

3 Top Quantum Computing Stocks For Your Watchlist This Week

For investors thinking about what stocks to buy now, quantum computing stocks appear to be in focus. After all, some would argue that this part of the stock market consists of cutting-edge tech in our world today. Before diving into the details, what are quantum computers? In a nutshell, quantum computers are one of, if not the most complex machines in the world today. For some perspective, some quantum computers can process complex data up to 100 million times faster than regular computers. Given the rising scale and depth of data being handled by organizations today, quantum computers could be increasingly relevant.

Even now, the applications for the tech are constantly growing. This can range from cybersecurity, drug development, and artificial intelligence to financial modeling and even design optimization. As you can imagine, these use cases would likely continue to expand as quantum computing services become more available. For instance, we could look at the likes of Honeywell International (NASDAQ: HON). The industrial giant has been working with Cambridge Quantum Computing, a British software company. The duo is looking to further advance the capabilities of quantum computing. In theory, they aim to do so by introducing features like real-time corrections while optimizing existing hardware.

At the same time, some of the biggest names in tech are actively innovating on this front as well. Microsoft (NASDAQ: MSFT) currently facilitates Honeywell’s quantum computing services via its Azure cloud division. Given all of this, would one of these quantum computing stocks be top picks in the stock market today?

Best Quantum Computing Stocks To Buy [Or Sell] This Week

International Business Machines Corporation

To begin with, we will be taking a look at the International Business Machines Corporation (IBM). For the uninitiated, it is one of the leading names in the quantum computing business today. This would be the case given its vast portfolio of best-in-class tech offerings. In essence, IBM offers organizations a comprehensive stack of quantum computing services. The company’s clientele list consisting of 140+ Fortune 500 companies would likely speak volumes regarding IBM’s expertise in the area. Namely, the likes of PayPal (NASDAQ: PYPL), Boeing (NYSE: BA), and JPMorgan (NYSE: JPM) are in IBM’s Quantum Network. Because of all this, some would argue that IBM stock is a top quantum computing stock to consider now.

Notably, the company appears keen on maintaining its lead in the quantum computing market now. Late last month, IBM and the University of Tokyo unveiled Japan’s most powerful quantum computer, an IBM Quantum System One. This marks a significant milestone in the ongoing collaboration to advance Japan’s quantum science research capabilities. This marks the second system of its kind to be situated outside the U.S., following the company’s Germany unveiling.

Overall, IBM Senior VP Dr. Dario Gil had this to say, “IBM is committed to the growth of the global quantum ecosystem and fostering collaboration between different research communities.” With IBM seemingly leading the charge towards global quantum computing adoption, will you be watching IBM stock?

quantum computing stocks (IBM stock)
Source: TD Ameritrade TOS

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Alphabet Inc.

Another major company to consider in the quantum computing space now would be Alphabet subsidiary, Google. Like several of its peers in Big Tech, Google is also hard at work on the quantum computing front. Aside from its massive consumer-focused portfolio, the company is also an expert on data management. Given the company’s booming Google Drive and Google Cloud divisions, this seems apparent. Thanks to the company’s latest breakthrough in the quantum computing world, GOOGL stock would be making headlines.

Last week, Google’s quantum department reportedly discovered a “time crystal”. Without going into too much detail, the time crystal, conceptually speaking, is a new phase of matter. This exciting development is thanks to Google’s current work with several leading universities, including Princeton and Stanford. While these preliminary findings are still being validated by peers in the scientific field, the implications could be massive. Roderich Moessner, one of the key researchers in the program, said, “the consequence is amazing: You evade the second law of thermodynamics”. Should these findings be viable, Google’s quantum computing-based work in the field of physics would be revolutionary.

On top of that, the company is also bringing quantum computers and related services to the market. Through its work with IonQ, a leader in “trapped-ion quantum computing”, said services are now available on its Google Cloud Marketplace. This would mark the first quantum computers available on Google’s cloud marketplace now. With the company pushing the boundaries of quantum computing, would you consider GOOGL stock a top quantum computing stock to watch?

top quantum computing stocks (GOOGL stock)
Source: TD Ameritrade TOS

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Following that, we have Amazon. Sure, many know the company for its e-commerce empire. However, Amazon is also a goliath in the tech space. In fact, its Amazon Web Services (AWS) division is a towering presence in the cloud computing industry now. Today, companies such as Coca-Cola (NYSE: KO), Johnson & Johnson (NYSE: JNJ), and Goldman Sachs (NYSE: GS) rely on AWS. Additionally, Amazon now offers quantum computing services via its Amazon Braket arm.

According to Amazon Braket’s general manager, Richard Moulds, quantum computers could potentially help solve complex problems in the world today. This ranges from business optimizations, fraud detection, and even stock market analysis. Moulds believes that while the tech is in its early stages, customers are already curious regarding its current capabilities. Given all of this, some would argue that AMZN stock would have another potential long-term growth factor in Amazon Braket.

For one thing, Amazon, like our previous entries, seems to be actively pushing for greater adoption of the tech. Simply put, the company is currently working with German automobile titan, BMW. With Amazon’s help, BMW is now hosting the “BMW Group Quantum Computing Challenge”. As part of this initiative, BMW is highlighting over 50 challenges throughout its value chain. For participants, the objective would be to employ quantum computing to solve said issues. More importantly, Amazon Braket is now the exclusive development environment for the event. With all this in mind, will you be adding AMZN stock to your portfolio this week?

AMZN stock
Source: TD Ameritrade TOS

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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