QUBT: Wedbush Views Quantum Computing as Generational Opportunity Amidst Commercialization and Revenue Challenges

Quantum Computing Inc. (NASDAQ:QUBT) is one of the best low priced technology stocks to buy according to analysts. On December 17, Wedbush initiated coverage of Quantum Computing with a Neutral rating and $12 price target. While quantum computing is still in its early stages, the firm believes that widespread commercial use will be the industry’s next major turning point. The sector represents a generational opportunity due to a massive TAM, the power to solve complex optimization problems, and the potential for energy savings. However, Wedbush remains cautious, noting a lack of consistent revenue and stiff competition.

In other news, on December 15, Quantum Computing announced a definitive agreement to acquire Luminar Semiconductor, which is currently a wholly owned subsidiary of Luminar Technologies Inc. The deal is structured as an all-cash transaction valued at $110 million, subject to customary adjustments. This move is designed to integrate Luminar Semiconductor’s portfolio of core photonic technologies, patents, and specialized engineering talent into Quantum Computing’s existing operations.

The acquisition aims to accelerate Quantum Computing’s development of compact, fully integrated quantum systems for commercial use. Luminar Semiconductor manufactures photonic components that serve as essential building blocks for Quantum Computing’s technology roadmap. By bringing these capabilities in-house, Quantum Computing Inc. (NASDAQ:QUBT) intends to strengthen its supply chain and deepen its engineering workforce.

Quantum Computing Inc. (NASDAQ:QUBT) is an integrated photonics company that provides quantum machines to commercial and government markets in the US.

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Disclosure: None. This article is originally published at Insider Monkey.