5 Best Quantum Computing Stocks To Invest In

3. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 155

Alphabet Inc. (NASDAQ:GOOG) is a multinational conglomerate that operates as a diversified technology company. Headquartered in California, the company owns and manages a vast number of internet-based platforms. Ranked third on the list of the 11 best quantum computing stocks to invest in, Alphabet Inc. (NASDAQ:GOOG) has a market capitalization of $1.86 trillion.

Alphabet Inc. (NASDAQ:GOOG)’s Sycamore superconducting processor, with 53 qubits, is one of the worlds most notable quantum computer processors. Developed by the company’s Artificial Intelligence Division, the company’s quantum computer solved a calculation in 200 seconds back in 2019, which, according to Alphabet Inc. (NASDAQ:GOOG), would take a traditional supercomputer over 10,000 years to complete. By the year 2029, Alphabet Inc. (NASDAQ:GOOG) looks to build a fully functioning, useful quantum computer.

By the end of the second quarter of 2021, 155 hedge funds out of the 873 tracked by Insider Monkey held stakes in Alphabet Inc. (NASDAQ:GOOG), worth roughly $145.5 billion, compared to 159 hedge funds in the preceding quarter, with stakes worth approximately $29 billion.

On September 17, Jefferies analyst Brent Thill raised his price target on Alphabet Inc. (NASDAQ:GOOG) to $3,325 from $3,150, and kept a Buy rating on the shares of the company.

Out of the hedge funds being tracked by Insider Monkey, Florida-based Ivy Lane Capital is a leading shareholder in Alphabet Inc. (NASDAQ:GOOG) with 9,700 shares worth more than $24.3 billion.

In its Q2 2021 investor letter, Mawer Investment Management mentioned Alphabet Inc. (NASDAQ:GOOG). Here is what the fund said:

“Many higher growth companies reported strong results amid the pick-up in broad economic activity including Alphabet. These higher growth companies tend to have increased sensitivity to a change in discount rates and were supported as long-term interest rates stabilized over the period.”