Virginia-headquartered Quantum Computing (NASDAQ:QUBT) stock is one of a small number of publicly traded businesses specializing in quantum computing.
The company just released a shareholder letter that’s basically a road map for Quantum Computing (both the company and the industry). When you discover how fast the company’s super-computers are and how many real-world applications these computers will have, you’ll surely be convinced to take a position in QUBT stock.
Quantum computing isn’t exactly the same as the digital computing you’re probably familiar with. To put it simply, quantum computing uses the properties of subatomic particles to perform simulations and calculations which would not otherwise be practical. Reportedly, the total addressable market for quantum computing is projected to reach $65 billion by 2030.
Quantum Computing ambitiously seeks to be a “democratizing force” in this fast-expanding industry. It’s amazing to consider how ultra-fast computers could alter the tech landscape in the coming years. Along with that, life-changing gains may be available to early investors in Quantum Computing.
Could QUBT Stock Actually Reach $10?
It might sound presumptuous to claim that a $3-and-change stock could triple and reach $10 someday. This is a long-term thesis, though. Barring some extraordinary event, QUBT stock isn’t going to get to $10 in a month or two.
Think about it, though. If the quantum computing market really reaches $65 billion by 2030, it’s going to require hardware and software that’s not only powerful but also accessible.
That’s where Quantum Computing fits into the picture. As InvestorPlace contributor Luke Lango explains: “Quantum Computing is hoping to fill the affordability gaps. It aims to become the widespread, low-cost provider of accessible quantum computing software for companies that can’t afford full-scale hardware.”
Imagine this company being the go-to provider of supercomputers and software/apps for small and mid-size businesses seeking the power of quantum computing. It’s a niche business model, but a brilliant one for Quantum Computing to stake an early claim in.
Quantum Computing Offers a Mix of Power and Applicability
The good news is that you don’t have to be a scientist or a mathematician to appreciate Quantum Computing’s powerful hardware and software. Plus, any prospective investors should be able to envision the wide range of potential applications for Quantum Computing’s product offerings.
In the area of cybersecurity, Quantum Computing’s products can address problems of threat detection, encryption, authentication and more. For self-driving cars, Quantum Computing offers not just LiDAR but quantum LiDAR or QLiDAR.
Then there’s Quantum Computing’s potential imaging capabilities. As the company explains much better than I ever could:
“One of the most exciting opportunities in the 3-5 year horizon is to leverage the ability to count single photons and filter their associated wavefunctions precisely to obtain optical imaging through otherwise opaque and dense materials.”
This isn’t to suggest that Quantum Computing’s achievements will all occur in the distant future. Indeed, the company is achieving milestones in 2022, in terms of sheer quantum-computing power.
What You Can Do Now
It’s fine if you’re not conversant with the language surrounding quantum computing. The important thing is to appreciate the growth potential for this high-conviction industry.
With powerful hardware and software/apps that are bound to have broad applicability, Quantum Computing is an early and forceful industry mover. Knowing this, today’s investors can get a head start on tomorrow’s super-computing trends with a long position in QUBT stock. You never know – $10 could someday be just the beginning of a massive, tech-fueled rally for Quantum Computing.
On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.