Google parent company Alphabet Inc (NASDAQ: GOOGL) has outdone itself…
The company recently rocked the market with the announcement of a new quantum computing chip (known as “Willow”) which can perform some tasks supercomputers would take more than the age of the universe to complete.
While experimental quantum computing chips have been created in the past, Willow is better at reducing errors, an issue that has been a major hurdle in quantum computing technology. Even in the last few days, investors have reacted well to the news (see chart of the last 5 days below):
What exactly does this mean for investors?
The sky’s the limit, according to those who believe quantum computing is the future of high-end processing and computing. With it, AI can advance greatly, and there are potential uses in medicine, cybersecurity, energy, and more. Other tech giants are working on quantum computing, but with this, GOOGL has taken a decisive lead, one that might make all the difference in future market races.
In the meantime, GOOGL is doing well by WallStreetZen’s metrics. At writing, it has a Zen Rating of B, and has a strong forecast and rating by analysts, enjoying a Buy consensus among 28 analysts. It has had good results in the last quarter, and the diverse array of ventures under GOOGL’s umbrella keeps it a more secure choice than some of the more focused fare among the tech stocks.
And on the occasion when it experiences a failure or pushback, GOOGL has typically shown a willingness to experiment, innovate, and adapt. While it may need to divest Google Chrome from itself pending regulatory action, it is also working itself into the ridesharing space via Waymo.
And, of course, one cannot possibly forget: GOOGL has absolute dominance of the search market, and this doesn’t seem likely to change anytime soon. As long as this is the case, GOOGL is in a strong position in the tech space.
Why You Should Look into GOOGL:
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