Why Alphabet Stock Gained 12% in January
Shares of Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) were among the winners last month after the tech giant unveiled a breakthrough with its new quantum chip, Willow.
The news set off a surge in quantum computing stocks, and Alphabet jumped over a two-day span after the announcement, as it was the latest evidence that the company is on the cutting edge in the AI race.
According to data from S&P Global Market Intelligence, the stock finished the month up 12%. As you can see from the chart below, the gains came largely following the quantum computing announcement on Dec. 9.
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