Do this Before Elon’s Reveal on January 22nd (From Jeff Brown)
Yesterday, we said, “Fear will lead to opportunity in quantum computing stocks.”
All after most of the leading quantum stocks, like IonQ (IONQ), D-Wave (QBTS), and Rigetti Computing (RGTI) were crushed on Nvidia CEO comments. In fact, as quoted by Bloomberg, CEO Jensen Huang said “very useful” quantum computers are likely decades away.
“If you kind of said 15 years for very useful quantum computers, that would probably be on the early side. If you said 30, it’s probably on the late side,” Huang added. “If you picked 20, I think a whole bunch of us would believe it.”
However, as expected, analysts and CEOs came out in defense.
For one, according to analysts at DA Davidson, “We believe Mr. Huang’s comments may have been somewhat self-serving,” the firm told Investor’s Business Daily.
“Once quantum computing becomes powerful enough, it will likely replace some of the uses of GPU data centers with a much smaller footprint and much faster computation. That means quantum computing is an existential threat to Nvidia, which it would then want to wish away.”
Two, D-Wave CEO Alan Baratz said the NVDA CEO is “dead wrong,” as quoted by CNBC.
“The reason he’s wrong is that we at D-Wave are commercial today,” Baratz told CNBC. Baratz added that companies including Mastercard and Japan’s NTT Docomo “are using our quantum computers today in production to benefit their business operations. Not 30 years from now, not 20 years from now, not 15 years from now. But right now, today.”
In short, the fear generated by Nvidia’s CEO is excessively overdone.
Again, use the weakness as a buy opportunity in quantum computing stocks. With more analysts and more CEOs likely to come out in defense of the industry, related quantum computing stocks – like those mentioned above – should come back strong.
Bonus Reading – ONE AI Stock is All You Need…
There are over 6,000 stocks listed in the market right now.
And even with many of them jumping on the AI bandwagon…
They will NOT make you rich.
However, there is one stock that stands head and shoulders above everything else.
It’s currently trading for only $20…
