12/17

Why is Alphabet Stock Down Today After Quantum Computing Skepticism

Alphabet Inc. (GOOG) saw a decline in its stock price on December 17, 2024, closing at $197.12, down 0.52% from the previous day's close of $198.16. The stock opened at $198.72 and reached a high of $202.88 before retreating to a low of $196.69. The trading volume was notably high at 23,944,360 shares, significantly above the average of 18,558,839 shares. Despite positive news earlier in the day about Waymo's expansion into Tokyo and advancements in quantum computing, investor sentiment was tempered by skepticism regarding the immediate commercial viability of Alphabet's new quantum chip, Willow. Analysts expressed caution, suggesting that the excitement surrounding quantum computing might be premature, which likely contributed to the stock's downward movement.