Quantum computing stocks surge to record highs in 2024, fueled by Google’s recent Willow chip announcement. Here’s an exchange-traded fund that offers investors exposure to this burgeoning sector.
What Happened: Defiance Quantum ETF (NASDAQ:QTUM) is an ETF that tracks the BlueStar Quantum Computing and Machine Learning Index, which helps investors capture the growth potential of the quantum computing sector.
The ETF has gained 16.41% over the last month, 29.03% over the last six months and 54.88% in 2024, as per Benzinga Pro.
Defiance Quantum ETF In 2024
The ETF invests in over 70 global stocks across the value chain, including hardware, software, and application-focused companies. Its top holdings include Rigetti with a weightage of 3.79% and D-wave with a 3.27% weight, followed by IONQ, Alchip Technologies, and Teradyne.
Top 10 Holdings Of Defiance Quantum ETF
Quantum Computing Stocks In 2024
See Also: SoFi Tech Downgraded Over Valuation Concerns: Stock Priced Three Times Its Peers
Why It Matters: Quantum computers, leveraging qubits, offer the potential to revolutionize computing by exponentially accelerating complex calculations.
Google’s recent Willow chip, showcasing advancements in quantum memory, achieved a benchmark computation in minutes that would take a supercomputer 10 septillion years. Despite this progress, high error rates remain a significant hurdle, hindering widespread commercial adoption and creating uncertainty around the timeline for practical applications.
According to Jon Najarian, the co-founder of Market Rebellion, Rigetti is a standout in the quantum computing space.
The Kobeissi Letter, in an X post, also highlighted that “Call options trading value on quantum computing stocks is now 2,500% above average.”
What Are Other Analysts Saying: According to the analysts tracked by Benzinga, most of these quantum computing companies face a potential downside in the future, with the exception of IBM.
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