Quantum Computing Inc. (QUBT) stock skyrocketed 20.33% in pre-market trading on Wednesday, driven by a surge in optimism surrounding the quantum computing sector. The rally was fueled by Microsoft's proclamation that 2025 is the year for businesses to become "quantum-ready," signaling a potential breakthrough in the practical applications of quantum technology.
Microsoft's bold statement sparked a wave of enthusiasm among investors, with shares of quantum computing companies soaring across the board. Rigetti Computing, D-Wave Quantum, and IonQ Inc. all witnessed significant gains, as the tech giant urged businesses to prepare for the "advent of the reliable quantum computing era."
Adding to the bullish sentiment, analysts at B. Riley and Benchmark expressed confidence in the sector's prospects. B. Riley raised its price target for D-Wave Quantum, citing the company's CEO's assertion that clients were already utilizing their quantum annealing computers to solve complex problems. Benchmark, meanwhile, highlighted a major customer purchase as a validation of accelerating market demand for quantum computing.
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