Microsoft (MSFT) is urging its business customers to get “quantum ready” and prepare for the technological leap that is coming.
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In a blog post, Microsoft said: “We are at the advent of the reliable quantum computing era. And we are right on the cusp of seeing quantum computers solve meaningful problems and capture new business value… As we look toward the next 12 months, the pace of quantum research and development is only going to accelerate, making this a critical and catalyzing time for business leaders to act.”
Microsoft’s comments come amid a public debate over quantum computing and the advent of the technology. In recent days, Nvidia (NVDA) CEO Jensen Huang and Meta Platforms (META) CEO Mark Zuckerberg have disparaged quantum computing, saying the technology is years away from commercialization and widespread adoption.
Those comments have rattled stocks of quantum computing companies such as Rigetti Computing (RGTI), IonQ (IONQ), and Quantum Computing (QUBT), sending their share prices sharply lower.
Contrarian View
Microsoft’s supportive comments about quantum computing run contrary to the views of Nvidia and Meta Platforms. However, Microsoft’s outlook seems to support Alphabet (GOOGL), which announced late last year an important advancement in quantum hardware.
Quantum computers work on a subatomic level and use advanced technologies such as super cold conductor microchips. The primary benefit of the technology is that it can solve problems too complex for today’s computers. While some tech leaders and analysts say quantum computers are still decades away from meaningful use, others claim that we’re on the cusp of a technological revolution.
MSFT stock has risen 7% in the last year.
Is MSFT Stock a Buy?
The stock of Microsoft has a consensus Strong Buy rating among 28 Wall Street analysts. That rating is based on 26 Buy and two Hold recommendations issued in the last three months. The average price target on MSFT stock of $506.96 implies 21.96% upside from current levels.
