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NEWS
Can Quantum Computing Save Stocks?

All four major U.S. indices ended the day in the red for a second straight session. Microsoft shareholders pushed back against the company’s flirtation with Bitcoin investments, highlighting the differing appetites for corporate risk-taking. With semiconductors falling, the market is hoping quantum computing can be the next major catalyst. 👀

Today's issue covers Google’s quantum computing breakthrough, Gamestop turning a profit (sort of), and other noteworthy pops and drops. 📰

Here’s the S&P 500 heatmap. 3 of 11 sectors closed green, with communication services (+1.57%) leading and real estate (-1.63%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $GOOG, $KR, $BA, $QGEN, $FOOD, 📉 $MDB, $DUO, $FERG, $IOT, $MRNA*

*If you’re a business and want to access this data via our API, email us.

COMPANY NEWS
Ok Google, Show Me Quantum Computing Gains 🤖 

While many of the market’s biggest winners have struggled in recent days, Alphabet has managed to buck the trend and break out to almost 5-month highs.

Yesterday the company unveiled a new chip that it says is a breakthrough in quantum computing, an emerging technology expected to shake up the tech sector. 👀 

Its blog post claims that a quantum computer powered by its new chip, Willow, solved a mathematical equation that would take a classical supercomputer 10 septillion years to solve. And it did it in only five minutes… 🤯 

Competitors like IBM, Intel, Amazon, Microsoft, and Honeywell are also chasing the next major technological breakthrough in this space. The industry largely believes this tech has “promising applications in many fields,” though we’re still far from seeing those practical applications.

Nonetheless, the world is racing to be the leader in this space, and the U.S. does not want to fall behind. In 2018, the National Quantum Initiative Act pledged $1.2 billion in federal funding for this space, and senators are looking to authorize another $2.7 billion. Meanwhile, China is reportedly spending more than $15 billion on its own quantum computing research. 🤑 

The latest tech arms race is on, and Google just fired a major shot. That’s why shares jumped out of their recent lull and are once again approaching all-time highs.

Stocktwits sentiment is still ‘extremely bullish,’ with the majority of the community saying it’s ‘a top tech stock to hold’ regardless of these developments. If the market can regain its footing, many are expecting fresh all-time highs in Alphabet soon! 👍️ 

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