2 Government Initiatives That Could Propel Quantum Computing Stocks Like D-Wave Quantum, Rigetti Computing, and IonQ Higher
Other than artificial intelligence (AI), few sectors have seen a more meteoric rise over the past year than quantum computing. Quantum computers are expected to be a significant advancement from the traditional computer, with much more complex technology. Instead of using bits, the smallest form of digital data, quantum computers rely on qubits, which can house much more data than bits and have much higher computing power.
Researchers believe quantum computers have the potential to solve some of the world's biggest issues. That's why quantum computing companies like D-Wave Quantum (NYSE: QBTS), Rigetti Computing (NASDAQ: RGTI), and IonQ (NYSE: IONQ) have seen their stocks fly, as they continue to make advancements on the technology. D-Wave and Rigetti are up over 1,800% over the past year, while IonQ is up over 500%.
These stocks are still not generating significant revenue and are still losing money, while trading at multibillion-dollar market caps, so I think they will continue to be volatile and investors should keep positions smaller and more speculative for the time being. But here are two government initiatives that could propel the group higher.
Source Fool.com
