Quantum computing stocks like Rigetti Computing (NASDAQ: RGTI) and IonQ (NYSE: IONQ) have been on a roller coaster, but Alphabet (NASDAQ: GOOG, NASDAQ: GOOGL) could be the ultimate winner. Alphabet’s in-house quantum computing solution is impressive, giving it a leadership role in the quantum computing megatrend.
Unlike pure-play quantum computing stocks, Alphabet faces less risk due to its diversified revenue streams. The company’s profitable businesses like Google Search and YouTube provide funding for its quantum computing research, giving it an advantage in the quantum computing race.
Alphabet’s quantum computing chip completed tasks 13,000 times faster than the world’s most powerful supercomputer, a significant step towards proving commercial viability. The company’s progress is further ahead than competitors, with ample funding to continue its work without needing to announce every breakthrough.
Alphabet’s diverse business portfolio, including cloud computing and AI, makes it less dependent on quantum computing success. With strong earnings potential and a lower valuation compared to peers, Alphabet remains a top stock pick with massive growth potential.
Investing $1,000 in Alphabet could lead to significant returns, according to the Motley Fool Stock Advisor team. While Alphabet wasn’t on their list of top 10 stocks, historical returns from previous recommendations show the potential for significant growth. Consider joining Stock Advisor for access to their latest top stock picks. 1. The stock market saw a sharp decline today, with the Dow Jones Industrial Average falling by over 500 points. This was attributed to concerns over rising inflation and interest rates.
2. In tech news, Apple announced the release of its latest iPhone model, the iPhone 13. The new phone boasts improved camera capabilities and faster processing speed, with pre-orders already surpassing expectations.
3. The United Nations released a report highlighting the urgent need for global action on climate change. The report warns of catastrophic consequences if greenhouse gas emissions are not drastically reduced in the coming years.
4. A new study found that remote work has led to increased productivity for many employees. The study also revealed that remote work can improve work-life balance and reduce commuting-related stress.
5. The World Health Organization declared that the COVID-19 pandemic is far from over, despite progress in vaccination efforts. The organization urged countries to continue their efforts to control the spread of the virus and prevent further outbreaks.
Read more at Nasdaq: Prediction: This Stock Will Be the Ultimate Quantum Computing Winner