Quantum GOOG & RTGI - Ride US Market Wave?
Tuesday Roundup.
On Tue, 10 Dec 2024, US market continued to witness slim-to-modest losses as traders waited for November 2024 CPI inflation report to be released on Wednesday morning.
This report is seen as the last bastion to “convince” the Fed that a final -0.25% interest cut is necessary, come 18 Dec 2024.
By the time market hit 4pm: (see above)
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DJIA: -0.35% (-154.10 to 44,247.83).
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S&P 500: -0.30% (-17.94 to 6,034.91).
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Nasdaq: -0.25% (-49.95 to 19,687.24).
As we head towards Wednesday trading, US stock futures are little changed as traders continued to brace for key inflation data.
My thots: I think most investors (myself included) hope for a set of data that will not cause market’s rally to hit a wall and at the same time, “subdue” enough for the Fed not to hold back interest cut for the last time in 2024.
Spotlight on Quantum Computing ?
I have observed of late that the spotlight on all things artificial intelligence (AI) seemed to have taken a backseat.
Instead, the spotlight seemed to have fallen on all things Quantum Computing (QC). (see below)
$Alphabet(GOOG)$ has officially unveiled its quantum chip, aptly called - “Willow”.
Google said its computer using the new quantum chip needs just 5 minutes to solve a problem that would take supercomputers around 10 septillion years.
Google’s CEO Sundar Pichai has said — “We see Willow as an important step in our journey to build a useful quantum computer with practical applications in areas like drug discovery, fusion energy, battery design + more.
Even $Tesla Motors(TSLA)$ owner, Mr Musk - an AI-advocator via “X” expressed with a "Wow" and further wrote — "we should do a quantum cluster in space with Starship one day".
Just like that, $Alphabet(GOOG)$ ended Tuesday higher by +5.32% on a day where most stocks were trending lower, while waiting for US inflation report to be released.
If US November 2024 CPI headline inflation falls in line with the forecast, ie. showing a 0.2% monthly increase and an annual inflation rate of 2.7%, the market is likely to react positively. (see below)
With this latest news and a possible boost from US market sentiments, Google looks set to close off 2024 on a high.
That is not all. Other Quantum Computing stocks have also shine under the spotlight as well.
Case in point $Rigetti Computing(RGTI)$.
In the recent “Thanksgiving” contest organized by Tiger Event, I have shared my turkey shares.
Rigetti Computing is one of them.
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On Tue, 10 Dec 2024, RGTI ended the day higher by +45.19% ($2.02) at $6.49 per share. (see above)
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Based on past 5 days performance, RTGI was up by +114.19% or $3.46.
Catalysts.
On 03 Dec 2024, Alliance Global Partners, Analyst, Brian Kinstlinger:
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Has praised RGTI and increased its price target to $5.50, from $3.50.
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This represented a potential upside of +82.12%.
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In addition, Kinstlinger has also rated RGTI a “Buy”.
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Main reason attributed to analyst’s upgrade was due to RGTI’s new fundings. (see above)
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With fundings secured, Kinstlinger reasoned that RGTI is a safe investment over the next 5 years.
More recently, on 10 Dec 2024, Quantum Machines and Rigetti Computing announced the successful application of AI to automate the calibration of a quantum computer.
The work was completed as part a challenge hosted at the Israeli Quantum Computing Center (IQCC).
This accomplishment demonstrates the potential of AI in expediting calibration, essential for scaling larger quantum computing systems.
Can RGTI recapture its 18 Nov 2021 high of $11.88 or even soar beyond? That's the quantum leap I am eyeing.
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Optimistic about the development of quantum economy
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