Smallest QC Stocks Had Largest Returns Last Week
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The munKNEE Quantum Computing Hardware Developers Index consists of the 9 largest QC companies trading on American stock exchanges excluding Microsoft (MSFT), Nvidia Corporation (NVDA), Alphabet Inc. (GOOGL), and Amazon.com Inc. (AMZN) due to their extremely large market capitalizations and they are ranked below as to their performances last week, 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.
- D-Wave Quantum (QBTS): UP 59.6% last week; UP 97.7% YTD
- is the leading provider of QC systems and software with a focus on quantum annealing technology.
- Market Capitalization: $278 million
- Latest News, Commentary and/or Analysis:
- Rigetti Computing (RGTI): UP 35.2% last week; UP 72.4% YTD
- specializes in superconducting qubit technology and has developed a suite of software tools and algorithms for programming and simulating quantum computations.
- Market Capitalization: $288 million
- Latest News, Commentary and/or Analysis: None
- Baidu (BIDU): UP 1.4% last week; DOWN 10.1% 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.
- Market Capitalization: $38B
- Latest News, Commentary and/or Analysis:
- Honeywell International (HON): UP 1.2% last week; DOWN 6.0% YTD
- has merged its quantum computer unit with Cambridge Quantum Computing into an entity called Quantinuum with a 54% ownership stake.
- Market Capitalization: $129B
- Latest News, Commentary and/or Analysis:
- Advanced Micro Devices (AMD): UP 0.8% last week; UP 17.9% 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.
- Market Capitalization: $281B
- Latest News, Commentary and/or Analysis:
- IBM (IBM): UP 0.7% last week; UP 14.7% YTD
- has its own QC chips and systems, which are available for commercial use via its Quantum business unit.
- Market Capitalization: $172B
- Latest News, Commentary and/or Analysis:
- Intel (INTC): UP 0.5% last week; DOWN 13.4% 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.
- Market Capitalization: $184B
- Latest News, Commentary and/or Analysis:
- IonQ (IONQ): DOWN 3.0% last week; DOWN 12.7% 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.
- Market Capitalization: $2.2B
- Latest News, Commentary and/or Analysis:
- Micron Technology (MU): DOWN 7.1% last week; DOWN 6.8% 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.
- Market Capitalization: $88B
- Latest News, Commentary and/or Analysis:
Summary
On average, the above 9 QC stocks were UP 0.2% last week, on average, and are now UP 1.7% 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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