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D-Wave quantum inventory increased today, according to Bullish analysts at B. Riley and Canaccord.
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Canaccord targets $20 per share with a buy rating of one year, B. Riley retained the buy rating and raised its target target from $20 per share to $22 per share.
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D-Wave Quantum is a high-risk stock, but it can provide explosive returns if the business wins in the field of quantum computing.
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10 stocks we have better than D-wave Quantum›
D-wave quantum (NYSE: QBTS) Stocks soared in Wednesday's trading due to bullish analysts' reports. Quantum computing company's shares rose 15.6%.
Due to new reports from analysts B. Riley and Canaccord. To date, the stock price of Quantum Experts is now over 140%.
Canaccord released a report early this morning that launched underwriting coverage for D-Wave Quantum and targeted $20 with a buy rating and a target value of $20 per share. Shortly after, B. Riley also released a new coverage on the stock – maintaining a buy rating and increasing its one-year target from $20 per share to $22 per share.
Image source: Getty Images.
Quantum computing stocks have been very hot in recent months. Some important technological breakthroughs and bullish technical outstanding comments, including Nvidia CEO Jensen Huang has provided a huge rally for many players. Expect the Fed to lower interest rates multiple times this year and create a more favorable backdrop for growing stocks, which has also led to valuation rally in the category.
Advances in quantum computing technology can provide a huge leap forward for artificial intelligence (AI) and other high-value technology categories, and D-Wave appears to be becoming an early leader in the field. On the other hand, quantum computing remains a nascent technology – mapping how developments and competitive dynamics in space involve very high guesses. Adventurous investors seeking exposure to quantum trends may find D-Wave quantum stocks a worthwhile portfolio to add, but the potential for a recent downward volatility has also increased as recent rally delays.
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Keith Noonan has no position in any of the stocks mentioned. Motley fool has a place and recommends Nvidia. Motley Fool has a disclosure policy.
D-Wave Quantum soared today – is it buying stocks now? Originally published by Motley Fool