From Nasdaq: 2024-12-09 09:00:00

Quantum computers are revolutionizing technology with their incredible processing power, using qubits to perform tasks faster than traditional computers. In 2023, Google’s parent company, Alphabet Inc., developed a quantum computer that outperformed a supercomputer by completing a task in seconds that would take 47 years. Tech giants like Amazon and Microsoft are also investing heavily in this space.

A smaller player, Quantum Computing Inc. (QUBT), has emerged as a top-performing stock in 2024, with an 869.5% return year-to-date. Despite competition from companies like IonQ Inc., QUBT is gaining investor attention in the photonics and quantum technology sector. QUBT’s market capitalization is $881 million, and it is pre-revenue, relying on future product sales for revenue.

QUBT has received orders for its thin-film lithium niobate photonic chips, with delivery expected by the end of the first quarter of 2025. Amazon’s AWS launching the Quantum Embark program has boosted interest in quantum computing firms like QUBT, as it helps customers prepare for quantum computing on a large scale. QUBT’s earnings report for the third quarter of 2024 showed a decrease in gross margin but a narrower net loss compared to the previous year.

Looking ahead, QUBT’s growth potential depends on the forecasted growth of the quantum computing industry, which could reach $12 billion by 2032. If technology adoption is slow, QUBT may face challenges in sustaining growth. However, a more optimistic outlook for the industry could lead to significant demand for QUBT’s products and future returns.



Read more at Nasdaq:: Quantum Computing Inc. is a Leader in the Industry, For How Long?