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Summary
- IBM stock price has grown 15 percent year to date.
- Amazon’s stock declined 2 percent this year.
- Shares of Intel are up 12 percent year to date.
Quantum computing is no longer a theoretical concept. Quantum computing technology can resolve complex computational problems and plays a crucial role in a range of services including defense, cloud security, supply chain and logistics, and finance.
Quantum computing machines are much faster than conventional computers and use less energy. The global quantum computing market is reportedly expected to grow to US$1.76 billion by 2026 from US$472 million in 2021.
Here we explore stocks of three large companies that are involved in quantum computing:
International Business Machines Corp. (NYSE:IBM)
IBM has quantum computing partnerships with over 119 companies in multiple industries to help them manage complex problems across finance, materials, logistics, and chemistry.
For example, IBM’s quantum computing expertise supports the development of lithium-oxygen batteries, chemistry simulation techniques in energy technologies and solutions, and improving automotive manufacturing techniques.
Some companies that have partnered with IBM for quantum computing include Daimler, Exxon Mobil, Mitsubishi Chemical and JP Morgan & Chase.
IBM has a market capitalization of US$129.70 billion, and the stock has a 52-week trading range of US$105.92 to US$148.74. The stock rose 15 percent year to date and grew 19 percent in the last 12 months.
READ MORE: Technical Alert: IBM Successfully Pierces Through its Price Resistance
Amazon.com, Inc. (NASDAQ:AMZN)
Amazon’s market cap is US$1.63 trillion. Apart from e-commerce, it generates huge revenue from Amazon Web Services (AWS), its flagship cloud platform.
AWS service includes fully managed Amazon Braket, which helps scientists, researchers, and developers experiment with quantum computing from multiple quantum hardware providers.
In the March quarter, Amazon saw its cloud business net sales grow 32 percent year over year to US$13.50 billion, accounting for nearly half of its total net sales during the quarter.
Amazon’s stock price surge 30 percent in the last one-year period. However, the stock is down 2 percent year to date. The stock has a 52-week trading range of US$2,330 to US$3,554.
Source: Pixabay
READ MORE: Amazon’s Net Profit More Than Triples In Q1 As Revenue Hits US$100B
Intel Corporation (NASDAQ:INTC)
The California-based technology giant’s research unit Intel Labs makes quantum processors and involved in system-level engineering that aims at production-level quantum computing in 10 years.
Intel developed its top quantum processor Tangle Lake, and its new chip technology, Horse Ridge is expected to pave the way for the development of full-stack quantum computing systems.
Intel’s revenue in the cloud computing group grew 8 percent year over year during the March quarter to US$10.6 billion.
The company has a market capitalization of US$230 billion. The stock rose 12 percent year to date, while it fell 11 percent in the last one year. The stock traded between US$43.61 to US$68.49 in the 52-week period.
READ MORE: Decline in Data Center Revenue Pulls Intel’s Stock Down
