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GOOGL Stock Up 2% Yesterday, Google to Attend White House Forum on Future of Quantum Technology

UTC by Steve Muchoki · 3 min read
GOOGL Stock Up 2% Yesterday, Google to Attend White House Forum on Future of Quantum Technology
Photo: Unsplash

GOOGL stock has gained approximately 86.44%, 55.22%, and 7.55% in the past year, YTD, and five days respectively.

Alphabet Inc Cl A (NASDAQ: GOOGL) stock closed Tuesday trading at $2,720.46, up 1.77% from the day’s opening price. However, some of the gains amounting to approximately 0.75% had been obliterated as of October 6, 2021, at 8:30 a.m EDT. Partially, yesterday’s gains have been attributed to news that Google LLC, Amazon.com Inc (NASDAQ: AMZN), and Microsoft Corp (NASDAQ: MSFT) are invited to a Biden administration conference on Tuesday focused on the future possibilities of quantum technologies.

With respect to quantum technology usability, Google is harnessing its vast data via quantum physics to help combat immediate climate change and imminent crisis. In a blog post by Sundar Pichai, CEO of Google and Alphabet, the company has introduced new features to help control increased climate change.

“We are introducing new features to book flights or purchase appliances that have lower carbon footprints, a Nest program to support clean energy from home, and eco-friendly routing on Google Maps – which is rolling out today,” Pichai noted.

The company noted that it estimated that the new feature is poised to help reduce carbon emission by 1 million tons per year. Equivalently, the figure is estimated to remove approximately 200,000 units of cars per year. Consequently, the effect is expected to save users more money by reducing fuel consumption.

“Traveling by car is one of the more carbon-intensive choices people make daily. Starting today in the US, and in Europe in 2022, Google Maps will let you choose the most fuel-efficient route if it isn’t already the fastest one,” the blog post stated.

GOOGL Stock amid Quantum Use Plans of Google

Now with the company spearheading a forum hosted by the Biden administration on the quantum tech that tends to show significant computer power, arguably higher than the human brain. The focus is on its stock market in relation to other quantum-related fields including the Bitcoin bull market and blockchain technology.

According to market analytics provided by MarketWatch, GOOGL stock has gained approximately 86.44%, 55.22%, and 7.55% in the past year, YTD, and five days respectively through Tuesday. However, the company’s stock market has lost approximately 5.34% in the past month.

The company, which is a component of major stock indexes in the United States, has a market capitalization of $1.78 trillion as of the time of reporting.

The Biden administration is keen on using emerging technologies including blockchain, artificial intelligence and supper computers to revamp the economy. Mind you, new Covid cases are still being reported in the United States despite a high rate of full vaccination.

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Steve Muchoki

A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies. Mythology is my mystery! "You cannot enslave a mind that knows itself. That values itself. That understands itself."

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