The announcement of Willow, Google’s new quantum computing chip has caused stock prices to surge by more than 5%. This will pose significant advantages in the advancement of Google’s AI projects.
This puts Google at the forefront of AI development: being able to compute complex problems in minutes when supercomputers would require years. Its biggest competitors, Microsoft and IBM, are working on the same technology.
This surge puts Google at a level of strength when other large cap technology companies have been seeing weakness as a result of the new Presidential administration. This has caused the rise of Real Estate and Small Cap stocks as investors shift away from large caps.
The bullish trend of Google seen in the movement of the 50 day movement suggests further movement over the next couple of weeks. With a price target of $250, Google poses to be a good investment for the long run.
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