A market frenzy surrounding Alphabet’s (GOOGL) unveiling of its Willow quantum computing chip has investors pouring into quantum computing startups like IonQ (IONQ) and Rigetti Computing (RGTI). However, direct investment opportunities in the field are limited. Here are five lesser-known companies that may offer potential for growth.
FormFactor (FORM), valued at $3 billion, focuses on test and measurement technologies for integrated circuits and has a secondary involvement in quantum computing through cryogenic systems. Despite its shares being down 16% over the past year, analysts project a turnaround with an average price target of $53.75, representing 57% upside potential.
Coherent (COHR), valued at $15.5 billion, develops lasers and optics products used in quantum computing applications like atom trapping and photon entanglement. The company’s shares have risen 46% over the past year but are underperforming in the current period, with a consensus “Moderate Buy” rating and an average price target of $112.38.
Honeywell (HON), with a market cap above $136 billion, produces quantum computers and related hardware through its subsidiary Quantinuum. Despite this involvement, Honeywell’s shares have risen only 5% over the past year, with analysts projecting a “Moderate Buy” rating and 25% upside potential.
Marvell Technologies (MRVL), valued at over $100 billion, develops high-performance semiconductors for AI applications and has a tangential role in quantum computing. The company’s shares have risen 60% over the past year, with analysts assigning it a “Strong Buy” rating and an average price target of $131.40.
SAP (SAP), a multinational corporation valued at $343 billion, is exploring ways to integrate quantum computing into its ERP software. Despite this commitment, SAP’s shares have risen 54% over the past year, with analysts projecting a “Strong Buy” rating and only 3.5% upside potential.
Source: https://www.barchart.com/story/news/30856647/5-under-the-radar-quantum-computing-stocks-to-snap-up-asap