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Quantum Computing refers to a new form of computation based on quantum physics. It is expected to outperform classical computers in processing data and deriving optimisation from it. This technology can be widely adopted in the environmental sector, including enhancing the performance of energy sources and optimising urban planning.

The classical computers that we use in our daily lives are beneficial to the development of humanity. Yet, these are being slowly substituted by increasingly sophisticated machines.

One problem that classical computers are so bad at solving is optimisation. For instance, how many possible combinations are there to configure the seats of 10 people around a table? The answer is 10, equivalent to about 3.6 million combinations. When the number of seats keeps increasing, the number of possible combinations multiplies. In order to find the optimal arrangement of the seats, we first need a list of criteria that determines the optimal arrangement. However, the most energy- and time-consuming part is that the classical computers need to simulate each combination to generate a result. Depending on the scale of the data, it may take an extremely long time for classical computers to generate a result. Yet, quantum computers have the potential to solve problems in just minutes.

The basic unit of information for classical computers is called a binary digit also commonly known as bit. A bit is either 1 or 0. If there are two bits in a row, there will be four possible combinations 00, 01, 10, and 11. Therefore, classical computers need to simulate four times to generate a result.

On the other hand, the basic unit of information for quantum computers is called a qubit. A qubit is not either 1 or 0. Instead, it exists in a superposition of 1 and 0. In other words, it is simultaneously a 1 and a 0. Therefore, two qubits in a row are in a superposition of four states 00, 01, 10, and 11. Why is it revolutionary? Well, being in a superposition of all states suggests that, theoretically, quantum computers are only required to simulate once to generate a result. It only takes a few attempts to find the optimal arrangement of 10 seats within more than 3.6 million combinations.

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Quantum computing can be adopted in any field that requires optimisation; it can be about enhancing the performance of an energy source as well as about developing a smart city where the consumption of energy is minimised.

One example is the quadratic assignment problem (QAP), a mathematical problem that classical computers perform badly. Suppose there are n of facilities and n of locations, and you are required to configure one facility in each location to minimize the consumption of energy. Logically, if we need to transport frequently a lot of goods between two facilities, we would like to place them closer, and vice versa. A study has compared the performance of a quantum computer and a classical computer in solving the quadratic assignment problem by giving them data from 20 facilities and locations. As a result, the quantum computer generated an accurate answer in about 700 seconds whereas the classical computer failed to do so within the time limit of 12 hours. This study demonstrates the huge potential of quantum computing to optimize urban planning to minimize the consumption of energy.

In addition to its functions, quantum computing by itself is an environmentally friendly technology. According to a study jointly published by NASA, Google, and Oak Ridge National Laboratory, a quantum computer required only 0.002% of the energy consumed by a classical computer to perform the same task. The energy consumed by computers is enormous; not including the energy consumed by normal peoples computers and smartphones, data centres themselves already account for more than 1% of global electricity. If data can be stored in terms of qubits, we can save up a huge amount of energy.

The worlds most powerful quantum computer now is the Eagle, developed by the International Business Machines Corporation (IBM) with a capacity of 127 qubits. However, scientists suggest that quantum computers are not commercially useful if their capacity does not reach at least 1,000 qubits. The slow development of quantum computers is mainly due to the technical difficulties in building them.

Scientists are required to manipulate particles as small as electrons in order to make qubits. Electrons need to be maintained in coherence, meaning the state in which the waves of the electrons can coherently interfere with each other. Yet, electrons are highly sensitive to the outside environment, like noise and temperature. Therefore, the manufacturing of qubits is usually done in an isolated environment from the outside world that runs at near absolute zero. Since the movement of atoms is at their lowest state of energy at absolute zero, keeping the electrons at such a temperature helps them to be stable and less affected by the outside environment. This is a way to mitigate the occurrence of decoherence. Yet, we still do not have a clear method to correct decoherence when it occurred because exterior interference may destroy the remaining coherence of other electrons.

Although quantum computing is still at the stage of development, we have already witnessed an enormous improvement in this field since its birth as a theory in the 1980s. Quantum Computing may be the next greatest advancement in humanity, from developing medicines for different incurable diseases by tracking the molecular data of human bodies that classical computers cannot do, to optimising the energy efficiency of cities, countries, and even the world.

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What is Quantum Computing and How Can it Help Mitigate Climate Change? - EARTH.ORG

Uncertainty was a key theme in the past week as the summer rally seemed to run out of steam.

As tempting as it is to follow the day-to-day movements of the market, investors would be better served to think long term and pick their stocks accordingly.

Here are five stocks chosen by Wall Street's top pros, according to TipRanks, a platform that ranks analysts based on their performance.

Computer technology firm IonQ (IONQ) has progressed significantly through the second quarter of this year, according to a recent research report from Needham analyst Quinn Bolton.

Important contracts, reinforced guidance for the full year, and other key developments were made in the second quarter. (See IonQ Earnings Date & Reports on TipRanks). Earlier this year, IonQ also launched its 32-qubit quantum computer, Aria.

Bolton notes that the company's strong balance sheet "should enable them to reach broad quantum advantage and become a positive cash flow generator without having to raise additional capital." Given the current market conditions and high cost of borrowing, this is good news.

The analyst also believes that the Aria 32-qubit will help IonQ achieve consistent system scaling and revenue bookings. Also, encouraged by the company's competitive edge provided by its trapped ion approach to quantum computing, Bolton believes that IonQ stands to benefit from the increasing popularity of the quantum industry and the growing investments being made to boost it.

Bolton reiterated a buy rating on IonQ with a price target of $9.

Bolton has a No.1 position among more than 8,000 analysts tracked on TipRanks. He has also had 73% success with his ratings, generating an average return of 45.2%.

Cyxtera (CYXT) is a provider of data center colocation and interconnection services for service providers, enterprises and government institutions. The company, like most of its peers in the tech sector, has been suffering from a challenging macro environment.

Moreover, in its recent second-quarter report, Cyxtera lowered its full-year 2022 guidance after factoring in foreign exchange headwinds, macroeconomic setbacks, delays in the implementation of its new Northern California data center and unfavorable timing for certain cost recoveries. (See Cyxtera Blogger Opinions & Sentiment on TipRanks).

However, RBC Capital analyst Jonathan Atkin pointed out a few upsides to the company's growth, which indicates that the CYXT stock can be a compelling buy for the longer-term.

The most important secular growth driver, according to Atkin, is the growing demand for data and connectivity as new technology and associated applications start rolling out. Additionally, the analyst also mentioned "rapid growth in IT outsourcing, data usage, and cloud and hybrid growth as enterprises realize digital transformation goals" as other positive factors.

Although current market conditions and operational environment prompted Atkin to decrease his price target to $14 from $16, he reiterated a buy rating on Cyxtera.

Atkin is currently at No. 11 among approximately 8,000 analysts tracked on the platform. Moreover, 78% of his ratings have been profitable, garnering 15.8% returns per rating on average.

The next on our list is the largest microchip manufacturer in the U.S., GlobalFoundries (GFS). The company recently beat its second-quarter goals, amid concerns of a demand slowdown in the consumer-exposed end markets like smartphones and PCs.

Reiterating a buy rating, Deutsche Bank analyst Ross Seymore explained that its increasing long-term agreement pipeline, focus on expanding its single-source business, growth in profitable unit volume, and meaningfully lower capital risk are expected to lift investor confidence in the stock. (See GlobalFoundries Stock Investors sentiments on TipRanks).

The analyst also raised the price target to $65 from $60 after attending the Analyst Day event held by Global Foundries following the Q2 print. Seymore was encouraged by "the company's ability to weather a macro/sector-specific slowdown while delivering continued increases in profitability driven by ASP growth, new single-sourced DWINs, and disciplined cost & OpEx management."

Seymore's track record gives us a solid reason to trust his research and opinion. At No.4 among more than 8,000 analysts followed on TipRanks, the analyst has a success rate of 80% on his ratings, generating average returns of 25.9%.

Retail chain Walmart's (WMT) recently released quarterly results reflected the resilience that consumers showed amid precarious market conditions. Not only that, operational improvements, continuous scaling of alternative income streams, and an innovative growth strategy are helping Walmart stay afloat.

Following the print, Baird analyst Peter Benedict reinforced a buy rating on the WMT stock and kept the price target at $140. (See Walmart Hedge Fund Trading Activity on TipRanks).

Benedict notes that Walmart's progress in optimizing inventory is a positive. "Looking ahead, additional pricing actions planned for 3Q should help WMT further right-size inventory levels/mix across 2H," the analyst wrote.

Moreover, Benedict also acknowledged the current leadership's efforts to keep Walmart ahead of others in the constantly evolving retail landscape. "CEO Doug McMillon's bold strategy to reshape WMT into a more nimble, fully integrated omni-channel retailer has generated real momentum across the business at a time when many traditional retailers are losing relevancy with consumers," the analyst said.

Benedict holds the No.77 position among around 8,000 analysts tracked on the platform. Moreover, his ratings have been successful 71% of the time, generating average returns of 16.1%.

Continuing our focus on the retail sector, leading home improvement chain Home Depot (HD) is another company that is on the buy list of Peter Benedict. The company also delivered upbeat second-quarter results alongside its peer Walmart.

Benedict believes that the management's unchanged outlook for the second half of this year reflects the possibility that the company expects some protection from any significant change in price-related demands through the rest of this year. (See Home Depot Stock Chart, Price History & Graphs on TipRanks).

The analyst is also confident that the company's strategic investments will bear fruit. "While HD has been realizing benefits from several of its strategic investments (front-end redesign/in-store navigation, merchandising resets, online assortment expansion, faster fulfillment options), momentum should continue to build as HD leverages its ecosystem of capabilities to deliver a seamless (and more personalized) shopping experience," said Benedict.

Reiterating a buy rating on Home Depot and raising the price target to $360 from $335, Benedict anticipates that the strategic investments made by the company last year will bolster its leadership position in the market and lead to share gains.

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Wall Streets top analysts say these are their favorite stocks right now - CNBC