4 Quantum Computing Stocks That Could be Hottest Bets for 2021
Quantum computing technology can solve critical computational problems in a variety of services, including finance, cloud security, drug discovery, and supply chain and logistics.
Cognitive systems that run on classic computers can find patterns and insights by deciphering large amounts of data. However, in the absence of such discernible patterns, these systems are not of much use.
This is why viable and scalable quantum computers have become increasingly important, as they can provide solutions to problems where there are no discernible patterns and fix problems that go beyond the currently advanced supercomputing capabilities.
In addition, the need for seamless communication, data transfer, improving model capability and simulating complex data triggered by the coronavirus crisis is expected to drive demand for quantum computing consulting solutions.
There are plenty of prospects
The growth in global spending on quantum computers, led by government and academic institutions, is expected to be a major catalyst in 2021 and beyond.
As automation and optimization become more widespread, the use of quantum computers for material simulation applications to solve complex simultaneous processes and to simulate molecules and materials to achieve accurate results will increase in the automotive, chemical, energy, and energy industries, as well as in healthcare.
According to a report by ResearchAndMarkets.com, this particular market is projected to reach $ 64.99 billion by 2030, up from $ 507.1 million in 2019, with an annual growth rate of 56%.
Additionally, a report from Allied Market Research found that the global enterprise quantum computer market is projected to reach $ 5.85 billion by 2025.
This compelling opportunity attracts companies to work with quantum physicists to deliver solutions that make it easier to develop fault-tolerant algorithms.
Investors who want to take advantage of the quantum computing boom in 2021 can rely on Baidu BIDU, Microsoft MSFT, Tencent Holdings Limited TCEHY and Alphabet togetL.
These companies focus on the commercialization and democratization of technology to help companies accelerate computing processes and increase their business productivity.
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Let's see what these companies are up to in the embryonic quantum computing space and what turns them into compelling bets.
Beijing, China-based internet browser operator Baidu's expertise in artificial intelligence and its growing focus on quantum computing make it an inevitable choice.
The company has a special quantum computer institute called the Baidu Quantum Computing Institute, headed by the respected quantum computer expert Professor Runyao Duan. Duan intends to transform the institute into a world-class company, integrating quantum computing technology into the company's various business areas, particularly AI.
In September 2020, Baidu unveiled details on its latest cloud-based quantum computing platform, Quantum Leaf, designed to program, simulate, and run quantum computing workloads. The aim of Quantum Leaf is to provide programmers with a fail-safe architecture that is well suited for setting up quantum infrastructures as a service.
Quantum Leaf focuses on QCompute, a Python-based open source development kit that uses a high-performance simulator and a hybrid programming language. In addition, management stated that the new platform complements the Paddle Quantum development toolkit released in early 2020.
This helps users to use pre-built objects and modules in the quantum programming platform and to develop and execute quantum circuits on the simulator or cloud simulators and hardware.
Additionally, focused on the Quantum AI benefit, the company has also updated the details of its new cloud-based quantum pulse computing service, Quanlse, which seeks to bridge the gap between software and hardware by adding a service to the Designing and implementing pulse sequences is offered as part of quantum tasks.
In particular, the Zacks Consensus estimate for earnings for 2021 has improved 4.7% over the past 60 days to $ 10.00, underscoring the bullish sentiment for the stock.
Baidu currently has a Zacks Rank 1 (Strong Buy). The full list of today's Zacks # 1 Rank stocks can be found here.
Microsoft's Quantum Network is growing with various kits and libraries for machine quantum learning applications.
The technology giant's cloud computing platform Azure presented a full-stack open cloud ecosystem Azure Quantum, which is a multitude of quantum services. In cooperation with 1QBit, Honeywell, IonQ and QCI, the company strives to offer robust quantum solutions, software and hardware.
As part of the company's Quantum Development Kit, work is underway to improve the “quantum-friendly” newest programming language Q # or Qis.
The goal of the technology giant is to develop a universal quantum computer with a robust hardware architecture based on nanowires with error correction mechanisms.
Specifically, the Zacks consensus estimate for FY 2021 earnings has improved 5.8% over the past 60 days to $ 6.73. Microsoft currently has a Zacks rank 2 (Buy).
It should be noted that Amazon AMZN, Microsoft's cloud rival, has ventured into the quantum computing space with Amazon Braket. Specifically, Amazon Braket is a fully managed quantum computing service that allows customers to explore and experiment with quantum computing hardware by providing a single development environment for building quantum algorithms. The service also enables testing of these algorithms on quantum computers.
Another China-based internet company, Tencent, is making slow but steady progress in the field of quantum computing.
In October 2019, the company announced that it would be investing 500 billion yuan (approximately $ 70 billion) in "new infrastructure" technologies, including cloud computing, AI, cybersecurity, blockchain, servers, quantum computers, and the next five years Big data centers, supercomputer centers, IoT operating systems and 5G networks to benefit from the increasing demand for advanced business software and cloud services.
In addition, the company's dedicated Tencent Quantum Lab, with renowned scientist Shengyu Zhang as head of the laboratory, is attempting to investigate the connection between basic quantum theory and practical applications.
In addition, the company's Quantum Computing Cloud is currently under construction. The aim is to provide a powerful and convenient cloud sharing platform for quantum computers and to explore the infinite possibilities of the quantum computer.
In particular, the Zacks consensus estimate for the 2021 result has improved 4.8% over the past 60 days to $ 2.39. Tencent currently has a Zacks rank of 2.
Meanwhile, Alphabet's Google is trying to gain a competitive advantage over International Business Machines IBM. In fact, Google claimed Quantum Supremacy on the back of the Sycamore quantum computer in 2019, according to its whitepaper.
The claim is controversial, however, as researchers and other members of the Quantum Computing Brotherhood have insisted on a realistic application of the technology rather than paper.
With the open source Python software toolkit (Cirq), Google supports developers in experimenting with quantum computer algorithms.
In addition, the open source platform on GitHub called OpenFermion aims to develop robust quantum circuits by improving the electronic structure package of quantum computers.
In addition, Google's TensorFlow Quantum, an ML framework that can create quantum data sets, prototypes of hybrid quantum and classical machine learning models, support for quantum circuit simulators, and for training discriminative and generative quantum models.
Additionally, ongoing research and new use cases of Google's Bristlecone, a universal quantum computer with a qubit number of 72, remains an important catalyst.
In particular, the Zacks consensus estimate for earnings for 2021 has improved 8.1% over the past 60 days to $ 62.30. Alphabet currently has a Zacks Rank 3 (Hold).
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