Alphabet Inc.'s recent unveiling of its quantum chip, Willow, has captured the attention of investors and analysts alike. The chip represents a significant advancement in quantum computing, particularly in reducing error rates as more qubits are added. BofA Global Research has maintained a "Buy" rating on Alphabet, with a price target of $210, citing the potential of Willow to establish a technological moat for Google. While the commercial applications of this technology are still in the distant future, the breakthrough could accelerate progress in fields such as drug discovery and encryption. This innovation, along with Alphabet's other technological capabilities like Tensor Processing Units, is seen as undervalued in current market assessments.
The Direxion Daily GOOGL Bull 1.5X Shares (GGLL) experienced a modest increase, rising 0.24% to $45.09 as of 10:00 AM on Wednesday, December 11.