Pure-Play Quantum Computing Stocks Portfolio UP 13% Last Week -

Pure-Play Quantum Computing Stocks Portfolio UP 13% Last Week

Jul 14, 2024Jeremy ParkinsonFinance, No picture0

Image Source: UnsplashQuantum ComputingThe better the computing power, and the more data, the better a semiconductor will perform and, as such, the race is on for companies to radically upgrade the computing power of their models. That’s where “quantum computing” comes in. (Check out this video on Quantum Computing: 4 Things You Need to Know.) Pure Play CompaniesPure-play companies concentrates all their efforts on a single line of business, and in this context, it’s quantum computing. Companies that are highly diversified, i.e., do not generate at least 50% of their sales from quantum computing products and services, such as Microsoft (MSFT), Nvidia NVDA), Alphabet (GOOGL), Amazon (AMZN), Advanced Micro Devices (AMD), IBM, Intel (INTC), Honeywell Int’l (HON), and Baidu (BIDU) are excluded from this analysis. The munKNEE Pure-Play Quantum Computing Stocks PortfolioThe 4 companies in themunKNEEPure-Play Quantum Computing Stocks Portfolio are up 16.9% MTD in July after having gone down 13.6%, on average, in June and were up 12.7%, on average, last week. Below are how they each performed, in descending order, along with a description of their business focus and the latest pertinent news, analyses and commentary on them.

IonQ (IONQ): up 14.0% last week; up 20.2% MTD; down 31.8% YTD

Company Focus: planning to build a network of quantum computers accessible via the cloud.
Market Capitalization: $1,790M
Latest News, Analyses and Commentary:
- Wall Street Analysts Look Bullish on IonQ: Should You Buy?

D-Wave Quantum (QBTS): up 10.0% last week; up 6.1% MTD; up 37.5% YTD

Company Focus: focuses on quantum annealing technology
Market Capitalization: $211M
Latest News, Analyses and Commentary:
- D-Wave’s Quantum Workforce Development Initiative Sees Double-Digit Growth in 1H 2024
- Zapata AI and D-Wave Quantum Announce Expanded Partnership to Accelerate Development and Delivery of Generative AI Platforms

Rigetti Computing (RGTI): up 9.1% last week; up 0.9% MTD; up 10.2% YTD

Company Focus: specializes in superconducting qubit technology and has developed a suite of software tools and algorithms for programming and simulating quantum computations
Market Capitalization: $186M
Latest News, Analyses and Commentary:
- Rigetti: A Quantum Computing Stock With Strong Buy Ratings

Quantum Computing (QUBT): up 6.6% last week; up 30.0% MTD; down 28.6% YTD

Company Focus: developing photonic qubits that offer a number of key advantages over trapped ions or superconducting qubits
Market Capitalization: $59M
Latest News, Analyses and Commentary:
- Quantum Computing Receives Nasdaq Non-Compliance Notice

SummaryThe above 4 pure-play QC stocks have an average market capitalization of $561M, were up 12.7% last week and up 16.9% MTD, but remain down 25.0% YTD.More By This Author:Canadian Cannabis LPs Doubled Performance Of American MSOs This Week
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