2 Quantum Computing Stocks To Watch In The Stock Market Today – Stock Market

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Quantum computing is an emerging technology that uses quantum mechanics to solve complex problems faster than traditional computers. It has the potential to revolutionize fields like cryptography, drug discovery, and financial modeling. Quantum computing stocks represent companies developing this technology or its applications. These stocks are often part of the broader technology sector but form a niche, cutting-edge category.
Investing in quantum computing stocks can offer exciting opportunities for growth-oriented investors. The technology’s potential to disrupt various industries makes it attractive for long-term investment strategies. Some larger tech companies are investing heavily in quantum research, providing stability alongside innovation potential. However, quantum computing stocks also come with significant risks. Many companies in this field are still in the research and development phase. Commercial applications of quantum computing are limited and may take years to materialize. The technology is complex, making it challenging for investors to assess progress and potential.
When considering quantum computing stocks, it’s crucial to evaluate a company’s research progress and partnerships. Look at their funding sources and ability to sustain long-term development efforts. Consider the potential applications of their specific quantum technologies. Be aware that the field is highly competitive, with both startups and tech giants involved. Understand that regulatory changes could impact the development and deployment of quantum technologies. Keeping this on top of mind, let’s look at two quantum computing stocks to watch in the stock market today.
Leading off, Honeywell International Inc. (HON) is a multinational conglomerate that operates in various technology and manufacturing areas. They produce a wide range of products including aerospace systems, building technologies, and performance materials. Honeywell has been investing in quantum computing through its subsidiary, Quantinuum, formed from the merger of Honeywell Quantum Solutions and Cambridge Quantum Computing.
Earlier this month, Honeywell announced an expanded collaboration with Qualcomm Technologies (NASDAQ: QCOM). The partnership aims to develop new AI-enabled solutions for the energy sector. They plan to integrate Qualcomm’s connectivity and AI capabilities into Honeywell’s existing systems, like the Field Process Knowledge System. This is expected to improve remote connectivity and edge analytics in manufacturing facilities. The companies will also develop new industrial sensors, combining Honeywell’s sensing technologies with Qualcomm’s AI-enabled processors.
So far this year, shares of HON stock have gained by 3.99% year-to-date. Meanwhile, during Monday afternoon’s trading session, Honeywell International stock is trading up 0.58%, currently trading at $217.24 a share.
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Next, FormFactor Inc. (FORM) is a semiconductor test and measurement company. They design, manufacture, and sell probe cards and analytical probes used in testing semiconductor devices. While not primarily a quantum computing company, FormFactor’s precision measurement tools are relevant to the development and testing of quantum computing components.
This month, FormFactor announced the date for its third quarter 2024 financial results release. The company plans to report its results on Wednesday, October 30th, 2024, at 1:25 p.m. Pacific Time. FormFactor will host a live webcast of the conference call to discuss these results. To briefly recap, last quarter the company reported earnings of $0.36 per share, with revenue of $197.47 million for Q2 2024.
Year-to-date, FormFactor stock has increased by 20.98% thus far. While, during Monday’s late afternoon trading session, shares of FORM stock are trading higher, up 1.16%, currently trading at $48.78 a share.
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Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | news@stockmarket.com
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