9 Largest Quantum Computing Stocks Up 3% In February; Now Up 4.5% YTD
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The munKNEE Quantum Computing Hardware Developers Index consists of the 9 largest quantum computing (QC) companies* trading on American stock exchanges and they are ranked below as to their performances in February, in descending order, and YTD along with a description of their business focus, their current market capitalizations, and their latest news, commentary and/or analysis. *(Microsoft (MSFT), Nvidia (NVDA), Alphabet (GOOGL), and Amazon (AMZN) are not included in the Index due to their extremely large market capitalizations.)
- D-Wave Quantum (QBTS): UP 117.6% in February; UP 110.2% YTD
- is the leading provider of QC systems and software with a focus on quantum annealing technology with a market capitalization of only $275 million.
- Latest News, Commentary and/or Analysis:
- Rigetti Computing (RGTI): UP 51.6% in February; UP 91.8% YTD
- specializes in superconducting qubit technology and has developed a suite of software tools and algorithms for programming and simulating quantum computations with a market capitalization of only $317 million.
- Latest News, Commentary and/or Analysis:
- Advanced Micro Devices (AMD): UP 14.8% in February; UP 30.6% YTD
- focuses on CPUs and GPUs and has launched its MI300X, the most powerful AI chip in history with the power of 2.4 times that of Nvidia's top devices in just one chip as well as 1.6 times the memory bandwidth.
- Latest News, Commentary and/or Analysis:
- Micron Technology (MU): UP 4.7% in February; UP 6.2% YTD
- began sampling its own HBM3 chips in July which are a 50% improvement in bandwidth over currently available solutions with mass production expected to begin early in calendar 2024, and meaningful revenue from this product in fiscal 2024.
- Latest News, Commentary and/or Analysis:
- IonQ (IONQ): UP 0.9% in February; DOWN 16.4% YTD
- develops QC hardware, is the first to have its computing systems available via all the major public cloud services, and plans to build a network of quantum computers accessible via the cloud.
- Latest News, Commentary and/or Analysis:
- IBM (IBM): UP 0.7% in February; UP 13.1% YTD
- has its own QC chips and systems, which are available for commercial use via its Quantum business unit.
- Latest News, Commentary and/or Analysis:
- Intel (INTC): No Change in February; DOWN 14.3% YTD
- is developing its QC chips using silicon and, while not set on regaining dominance in the semiconductor industry, it could become an important segment in integrated chip design if research yields positive results.
- Latest News, Commentary and/or Analysis:
- Honeywell International (HON): DOWN 1.7% in February; DOWN 5.2% YTD
- has merged its quantum computer unit with Cambridge Quantum Computing into an entity called Quantinuum with a 54% ownership stake.
- Latest News, Commentary and/or Analysis:
- Baidu (BIDU): DOWN 3.8% in February; DOWN 14.9% YTD
- has pioneered the development of a comprehensive quantum hardware-software integration solution, enabling access to a wide range of quantum chips through various platforms.
- Latest News, Commentary and/or Analysis:
Summary
On average, the above 9 QC stocks were UP 3.2% in February, on average, and are now UP 4.5% YTD.
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Disclosure: None
This article has been composed with the exclusive application of the human intelligence (HI) of the author. No artificial intelligence (AI) technology has been deployed. ...
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