Alphabet Inc., the parent company of Google, has made waves on Wall Street after unveiling its quantum computing technology, Willow. Bank of America analyst Justin Post issued a positive note on the stock, reaffirming his Buy rating with a price target of $210.
According to Post, Willow’s advancements demonstrate Alphabet’s leadership in technology innovation. The analyst notes that the company’s track record of developing successful next-gen technologies and its potential for significant tech moat growth make it an attractive investment opportunity.
Key highlights from the announcement include:
* Reduced errors with quantum computing as computing power increases
* Benchmark computation showing the chip performing much faster than current capacity
Alphabet’s stock has surged over 10% this week, bringing its market capitalization to over $2.5 trillion. While commercial introduction of Willow is estimated to be several years away, Post remains optimistic about the company’s prospects.
The analyst highlights several products and technologies that have proven applications and could benefit from increased recognition in the stock price, including AI Overviews (using Gemini), TPUs, Cloud, Workspace, and Waymo.
Source: https://www.benzinga.com/24/12/42447332/alphabets-quantum-willow-chip-wows-analyst-google-at-the-leading-edge-of-technology-innovation