Quantum Computing stock is rising rapidly following news that the U.S. Air Force is ramping up investments in quantum tech.
The Trump administration is reportedly looking to accelerate the U.S.’s development of quantum technologies.
Quantum Computing also got a vote of confidence from an investment firm yesterday.
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Quantum Computing (NASDAQ: QUBT) stock is surging Friday and leading a pack of industry gainers in the day’s trading. The tech specialist’s share price is up 25.4% as of 1:15 p.m. ET.
Quantum Computing is soaring today in response to news that the U.S. Air Force is aiming to increase research in the quantum computing space and a report suggesting that the Trump administration could soon issue an executive order to accelerate the development of quantum technologies.
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Quantum Computing stock may also be getting a sustained boost from bullish analyst coverage published yesterday. In its recently published note, Lake Street initiated coverage on the stock with a buy rating and a one-year price target of $24 per share. As of this writing, Lake Street’s valuation target implies additional upside of roughly 4%.
With today’s gains, Quantum Computing stock is now up approximately 41% across this year’s trading and 168% over the last six months.But there’s still an incredibly high degree of speculation involved in charting the performance outlooks for Quantum Computing and other players in the space.
Quantum Computing is currently valued at more than 8,960 times this year’s expected sales. The company could eventually see explosive sales growth and tap into demand for quantum technologies connected to artificial intelligence (AI) and cryptography, but there’s inherently a lot of risk in its current valuation profile. Investors with high risk tolerance may find it worth adding Quantum Computing stock to gain exposure to long-term quantum trends, but others may wish to remain on the sidelines.
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