Update: Quantum Computing R&D Stocks Portfolio Up 3% This Week -

Update: Quantum Computing R&D Stocks Portfolio Up 3% This Week

Sep 21, 2024Jeremy ParkinsonFinance, No picture0

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What Is Quantum Computing?

Currently, “classical” computers operate on a binary system that is equipped with chips that use bits to perform computations. These bits are limited, though, and can only show a value of zero or one, so it takes a lot of zeros and ones arranged in specific orders for a computer to do anything.

On the other hand, however, “quantum” computers operate with subatomic particles that use quantum bits (qubits) to allow the particles to exist simultaneously in more than one state. This increases processing speeds dramatically and quicker processing speeds mean that computers can tackle more complex problems, which will improve predictive analytics, pattern recognition and complex optimization tasks.

Building a quantum computer is extremely expensive, complex and massive, and needs to be kept in stable laboratory conditions, and cooled to nearly absolute zero (-459 degrees Fahrenheit) and, as such, the research, development and leveraging of quantum computers is confined to very few tech companies.

Our Pure-Play Quantum Computing Stocks Portfolio
Below are how the 4 companies, trading on Canadian and/or American stock exchanges that are exclusively (i.e. are pure-play) researching the development of quantum computing, performed w/e Sept. 20th, in descending order, along with their business profiles, market capitalizations, their prevailing short interest percentage which is a measure of how many investors are betting that a stock’s price will fall further and any news contributing to the price change in the stock:

IonQ (IONQ): UP 5.9% w/e Sept 20th; UP 10.8% MTD

Company Focus: planning to build a network of quantum computers accessible via the cloud using trapped-ion technology in its processing units which relies on suspending ions in space using electromagnetic fields, and transmitting information through the movement of those ions in a “shared trap.”
Market Capitalization: $1,760M
Short Interest: 17.8% (UP from 17.1% last week)
News;
- IonQ Achieves Industry Breakthrough – First Trapped Ion Quantum System to Surpass 99.9% Fidelity on Barium

Quantum Computing (QUBT): No Change w/e Sept 20th; UP 6.4% MTD

Company Focus: developing photonic qubits that offer a number of key advantages over trapped ions or superconducting qubits
Market Capitalization: $66M
Short Interest: 3.0% (UP from 2.8% last week)
News:
- Quantum Computing, Inc. Completes Restatement and Files Form 10-K/A for Fiscal Years 2023 and 2022

Rigetti Computing (RGTI): DOWN 7.1% w/e Sept 20th; DOWN 14.1% MTD

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: $152M
Short Interest: 13.6% (DOWN from 15.1% last week)
News:
- Rigetti Computing, Inc. (RGTI) Is a Trending Stock: Facts to Know Before Betting on It

D-Wave Quantum (QBTS): DOWN 7.9% w/e Sept 20th; DOWN 7.9% MTD

Company Focus: focuses on quantum annealing technology
Market Capitalization: $187M
Short Interest: 8.9% (DOWN from 10.9% last week)
News:
- D-Wave Quantum Joins the Chicago Quantum Exchange

Please note: Our Pure-Play Quantum Computing Stocks Portfolio only includes those companies that concentrate all their efforts on the research and development of quantum computing. Companies that are also involved in the research and development of quantum computing but are also involved in other aspects of AI technology, 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 to allow for a true comparison of performance by similar constituents.SummaryThe Pure-Play Quantum Computing Stocks Portfolio went UP 3.1% w/e Sept. 20th and is now UP 6.4% MTD albeit DOWN 29.9% YTD.More By This Author:Pure-Play Cloud Computing SaaS Stocks Portfolio Is Down MTD
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