RGTI - D-Wave Quantum Stands Out in Commercial Quantum Computing Revolution Bullish Analyst Says | Benzinga
Needham analyst Quinn Bolton initiated coverage on D-Wave Quantum Inc (NYSE:QBTS) with a Buy rating and a price target of $2.5.
As per the analyst, d-Wave stands out as a pure-play entity in the quantum computing industry, primarily focusing on commercial applications through its proprietary quantum annealing technology.
This differentiates D-Wave from its competitors, as it derives 70% of its revenue from commercial customers by leveraging its technology to tackle real-world optimization challenges.
Bolton said this commercial focus is noteworthy, especially compared to peers who rely significantly on funding from academic institutions or government laboratories.
The initiation of this coverage coincides with his belief in the transformative potential of quantum computing. As per the analyst, this technology will likely revolutionize the computing industry by dramatically accelerating computation times for specific algorithms and solving problems beyond classical computers’ reach.
Bolton’s comprehensive analysis, published on June 7, 2022, flagged ...