Quantum Computing and Rigetti Computing turned out to be two of the biggest winners of the year as we close off another wild one for the stock market. QUBT and RGTI stock have skyrocketed 1,786% and 1,647% respectively. Inspired by advances, investor excitement, and speculative trading, quantum computing stocks have lately exploded. Alphabet's revelation of its "Willow" quantum chipcapable of tackling difficult problems in minuteswas a major impetus. Alphabet and other emerging businesses in the niche are positioned as leaders in this fast-evolving sector, which will continue attracting investor attention.
Government contracts add to the sector's legitimacy. Further proving the practical uses of quantum technology, Quantum Computing Inc. landed a NASA contract to utilize its quantum optimization machine for better imaging and data processing. Still, a lot of the thrill is hypothetical. Rushing to seize the potential of quantum computing, investors are driving volatility in stock prices.
This article first appeared on GuruFocus.Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.