Why D-Wave Quantum Stock Surged Today
Shares of D-Wave Quantum (QBTS +20.20%) soared on Monday after the advanced computing pioneer broadened its partnership with AT&T (T +1.20%).
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Making wireless networks faster and more efficient
Early tests of D-Wave’s quantum technology helped AT&T slash the run time for a network optimization process from roughly one hour to less than 15 seconds. These encouraging results prompted the telecom titan to expand the use of D-Wave’s tech to areas such as outage detection, network planning, and traffic management.
Today’s Change
(20.20%) $3.28
Current Price
$19.49
Key Data Points
Market Cap
Day’s Range
$17.79 – $19.52
52wk Range
$12.75 – $46.75
Volume
1.5M
Avg Vol
30.4M
Gross Margin
32.92%
“The speed we’re seeing with D-Wave challenges what’s currently possible,” AT&T executive Lucus Haugen said. “It has the potential to help us optimize faster, increase efficiency, and scale more real-time operations, making quantum a practical tool for advancing how we run and modernize our network.”
Wall Street sees more upside ahead
Benchmark analyst Gary Mobley has a buy rating on D-Wave’s shares. He sees the quantum computing leader’s stock price rising more than 50% to $30.
Mobley notes that D-Wave’s focus on helping its customers solve their optimization challenges is enabling it to deliver an actual “quantum advantage to users” and “solve real-world practical problems,” unlike most of its rivals.
However, Mobley also cautioned that with this groundbreaking technology still in its early stages, investors may be best served by spreading their bets across multiple quantum stocks.
Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
