Could not agree more.*
From Bloomberg, January 8:
The shares of IonQ Inc. and other companies linked to quantum computing tumbled in premarket trading on Wednesday, after Nvidia Corp. Chief Executive Officer Jensen Huang said that “very useful” quantum computers are likely decades away.
“If you kind of said 15 years for very useful quantum computers, that would probably be on the early side. If you said 30, it’s probably on the late side,” Huang said in a question-and-answer session during Nvidia’s analyst day. “If you picked 20, I think a whole bunch of us would believe it.”
Shares in Quantum Computing Inc., D-Wave Quantum Inc. and Rigetti Computing Inc. dropped more than 14% in premarket trading, while IonQ fell about 10%. These stocks have soared in recent months amid excitement
about the technology’s potential, which was heightened last month following a quantum computing breakthrough by Alphabet Inc.
Read More: Alphabet Ends 2024 on High With Help From Quantum Tech Leap
Quantum Computing shares had gained more than 1,800% over the past 12 months to $17.49 through Tuesday’s close. Rigetti rose more than 1,500% to $18.39 over the same span, while D-Wave advanced nearly 1,000% to $9.55 and IonQ more than 300% to $49.59....
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As just one example of this morning's stock price moves, RGTI is down $3.72 (-20.23%) at $14.67 after falling 5.74% on Tuesday.
We had the Google story on December 9: "Quantum Computing Inches Closer to Reality After Another Google Breakthrough" (GOOG).
Followed by an editorial comment in the headline December 11: This is Goofy: "Quantum-computing stocks are soaring as investors place bets on ‘the next big thing’ in tech"
"Goofy," a term that exudes erudition on the part of the analyst. The rest of that post's comments on shorting are more pedestrian.
On December 26 the intro/outro from "2025 will be a 'show-me' year for nuclear: Expert":
We have been here before with the small modular reactors.*
***
*May 2024 - "Small modular nuclear reactors get a reality check in new report"
The fact they've been available for over a decade and not enthusiastically deployed hither and yon tells us there's something not quite commercially viable about the little nukes.
2012 - Surviving in Your Doomsday Bunker with Portable Nuclear Power to Spare
Ditto and double ditto for the quantum computing stocks. There will be at least one and possibly three bear markets before they are even close to earning money.
However, for the diehard next-big-thing wannabes we did link to Barron's "...How to Pretend You Understand Quantum Computing." on Dec 14.
