Quantum computing stock price gained traction after new contracts in cloud-based quantum services were disclosed, leading to a $1.20 intraday spike. Longer-term projections point to a potential $52 target if adoption metrics hit quarterly benchmarks set by leading research firms. However, the company doesn't make much money, casting doubt on its value as an investment. Quantum computing is an incredibly important technology for Alphabet to develop, as it would allow Alphabet to increase the profitability of its cloud computing division. Currently, Alphabet purchases computing units from a few vendors, which means it must pay for that company's profits. If Alphabet develops in-house quantum computing capabilities and doesn't need to purchase computing units from a supplier like IonQ, it will become far more profitable. Portfolio managers increasing allocations to niche innovation funds have directly impacted the quantum computing stock price, which climbed 4% in two sessions. Tracking inflow patterns may help forecast upcoming liquidity-driven surges.
