#1 - Alphabet (NASDAQ:GOOGL)
Who would have thought that one of the Magnificent 7 stocks would be a picks-and-shovels play for quantum computing? But that’s the case with Alphabet Inc. (NASDAQ: GOOGL). The company isn’t building quantum computers, but they are designing their own quantum computing chip, Willow, that is made up of 105 qubits.
The company says Willow addresses a key problem: quantum computers' propensity to commit errors. According to Alphabet, Willow fixes this problem by operating “below threshold,” which means it “can exponentially reduce errors as it scales using more qubits.”
Analysts still believe Willow is at least 10 years away from commercial availability, so investing in it may not be quite like investing in NVIDIA Corp. (NASDAQ: NVDA) before the advent of Chat GPT. But if you have a long time horizon, this is a reason to buy and hold GOOGL stock beyond its ad network and leadership positions in search, cloud computing, streaming and autonomous driving.
About Alphabet
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
More about Alphabet- Current Price
- $173.86
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 33 Buy Ratings, 10 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $210.62 (21.1% Upside)
