Quantum computing is so fire — No, seriously. BofA says it could be humanity's biggest breakthrough since the discovery of fire
In a recent note on quantum computing, analysts at Bank of America had to reach way back—way, way back—for a comparable advancement in human history.
That's because the use of subatomic particles to process data offers the potential to leap light year ahead of what's possible with traditional semiconductor-based electronics.
'This could be the biggest revolution for humanity since discovering fire,' they wrote on Wednesday. 'A technology that can perform endless complex calculations in zero-time, warp-speeding human knowledge and development.'
Scientific evidence suggests early humans began using fire in a controlled way hundreds of thousands of years ago, and perhaps even 1 millions years ago.
So how does quantum computing compare to that? Theoretically, there's no calculation a quantum computer can't do, BofA said, adding that it could 'change everything,' by creating new drugs and materials, increasing longevity, and enhancing encryption and logistics, to name just a few examples.
At the same time, the artificial intelligence revolution that's also underway could get turbocharged by quantum computing, and vice versa.
'GenAI can help speed up the development and testing time of quantum systems, which could take AI model training to the level of Artificial Super Intelligence,' BofA said.
There have already been major milestones in quantum computing. In 2023, Google said its Sycamore quantum processor completed a calculation in 6 seconds that would've taken the top supercomputer 47 years.
And in December, Google said its Willow quantum chip solved a problem in less than five minutes that would've taken the world's fastest supercomputer 10 septillion years (or 10,000,000,000,000,000,000,000,000 years).
But a quantum computer has yet to solve a useful real-world problem faster than a classical computer could, BofA pointed out. That's because qubits, the fundamental units of quantum information, still suffer from too much 'noise,' or disturbances that can lead to computation errors.
In January, Nvidia CEO Jensen Huang said the most exciting developments in quantum computing are more than a decade away.
In March, he sought to temper expectations for quantum computing that somehow it's 'going to be better at spreadsheets.'
Rob Schoelkopf, cofounder and chief scientist of Quantum Circuits, also said at the time that advances in quantum computing would come more gradually instead of in a sudden flip of a switch.
'We're going to be turning the volume steadily, and we can start to hear the music now, and eventually everyone will be able to hear the music,' he predicted.
Meanwhile, BofA noted that quantum computing has geopolitical implications as well. The technology can level the playing field in overall processing power, which the U.S. currently leads the world in.
'Whoever wins the 'quantum race' will gain an unprecedented geopolitical, technological and economic advantage,' analysts said.
This story was originally featured on Fortune.com
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For its fiscal year ended May 31, 2026, Tilray expects to achieve adjusted EBITDA of $62 million to $72 million Listen to the earnings call live here. Tilray stock (TLRY) reversed gains, sinking over 6% after hours after the Canadian cannabis company posted mixed quarterly results. Net revenue was $224.5 million in the fourth quarter compared to $229.9 million in the same period a year ago and $233 million estimated, per S&P Global Market Intelligence. Tilray posted adjusted earnings of $0.02 per share, compared to expectations for flat profitability. For its fiscal year ended May 31, 2026, Tilray expects to achieve adjusted EBITDA of $62 million to $72 million Listen to the earnings call live here. An earnings scorecard Yahoo Finance's Josh Schafer reports: Read more here. Yahoo Finance's Josh Schafer reports: Read more here. S&P 500 hits record highs amid parade of earnings with more Big Tech results on deck The S&P 500 (^GSPC) cleared its fifth straight record high on Friday after a busy week of earnings, headlined by reports from Google (GOOG) and (TSLA). With 34% of S&P 500 companies having reported results, 80% have reported a positive earnings per share surprise, and 80% reported a positive revenue surprise. Earnings season isn't slowing down just yet, however, with more major companies reporting next week. Notable companies reporting include Big Tech giants such as Microsoft (MSFT) and Apple (AAPL) and consumer-facing names like Procter & Gamble (PG) and Mastercard (MA) that can provide an updated view on consumer health. Here's a look at the earnings calendar for the next five business days: Monday: Tilray (TLRY), Waste Management (WM), Whirlpool (WHR) Tuesday: Boeing (BA), Booking Holdings (BKNG), Caesars (CZR), Cheesecake Factory (CAKE), Merck (MRK), PayPal (PYPL), Procter & Gamble (PG), Spotify (SPOT), Starbucks (SBUX), SoFi (SOFI), UnitedHealth Group (UNH), UPS (UPS), Visa (V) Wednesday: Meta (META), Microsoft (MSFT), Arm (ARM), Altria (MO), Carvana (CVNA), Ford (F), Generac (GNRC), Harley Davidson (HOG), Hershey (HSY), Humana (HUM), The Kraft Heinz Company (KHC), Qualcomm (QCOM), Robinhood (HOOD) Thursday: Apple (AAPL), Amazon (AMZN), Bristol Myers Squibb (BMY), Cigna (CI), Coinbase (COIN), CVS Health (CVS), Mastercard (MA), Norwegian Cruise Line (NCLH), Reddit (RDDT), Roblox (RBLX), Roku (ROKU), Strategy (MSTR) Friday: Chevron (CVX), Colgate-Palmolive (CL), Exxon Mobil (XOM) The S&P 500 (^GSPC) cleared its fifth straight record high on Friday after a busy week of earnings, headlined by reports from Google (GOOG) and (TSLA). With 34% of S&P 500 companies having reported results, 80% have reported a positive earnings per share surprise, and 80% reported a positive revenue surprise. Earnings season isn't slowing down just yet, however, with more major companies reporting next week. Notable companies reporting include Big Tech giants such as Microsoft (MSFT) and Apple (AAPL) and consumer-facing names like Procter & Gamble (PG) and Mastercard (MA) that can provide an updated view on consumer health. Here's a look at the earnings calendar for the next five business days: Monday: Tilray (TLRY), Waste Management (WM), Whirlpool (WHR) Tuesday: Boeing (BA), Booking Holdings (BKNG), Caesars (CZR), Cheesecake Factory (CAKE), Merck (MRK), PayPal (PYPL), Procter & Gamble (PG), Spotify (SPOT), Starbucks (SBUX), SoFi (SOFI), UnitedHealth Group (UNH), UPS (UPS), Visa (V) Wednesday: Meta (META), Microsoft (MSFT), Arm (ARM), Altria (MO), Carvana (CVNA), Ford (F), Generac (GNRC), Harley Davidson (HOG), Hershey (HSY), Humana (HUM), The Kraft Heinz Company (KHC), Qualcomm (QCOM), Robinhood (HOOD) Thursday: Apple (AAPL), Amazon (AMZN), Bristol Myers Squibb (BMY), Cigna (CI), Coinbase (COIN), CVS Health (CVS), Mastercard (MA), Norwegian Cruise Line (NCLH), Reddit (RDDT), Roblox (RBLX), Roku (ROKU), Strategy (MSTR) Friday: Chevron (CVX), Colgate-Palmolive (CL), Exxon Mobil (XOM) Intel turnaround story could realistically take years, analyst says Intel (INTC) stock fell 9% on Friday after the company reported quarterly results on Thursday that showed it was focused on cost-cutting. Intel's revenue of $12.8 billion beat analyst expectations of $11.8 billion, per Bloomberg data, and the chipmaker issued an upbeat Q3 revenue forecast of between $12.6 billion and $13.6 billion. But the company continues to face challenges as it attempts to transform into a chipmaker as well as a chip designer. As Yahoo Finance's Laura Bratton noted in our markets blog, investors focused on Intel's manufacturing roadmap instead of its headline numbers for the quarter. Intel, once a leading global chipmaker, has fallen behind its rivals in both its own products and its attempt to manufacture chips for outside customers. 'This is a multiquarter — realistically, probably multiyear — kind of complete turnaround story before all the benefits start to show up,' TECHnalysis Research president and chief analyst Bob O'Donnell told Yahoo Finance following the report. Intel (INTC) stock fell 9% on Friday after the company reported quarterly results on Thursday that showed it was focused on cost-cutting. Intel's revenue of $12.8 billion beat analyst expectations of $11.8 billion, per Bloomberg data, and the chipmaker issued an upbeat Q3 revenue forecast of between $12.6 billion and $13.6 billion. But the company continues to face challenges as it attempts to transform into a chipmaker as well as a chip designer. As Yahoo Finance's Laura Bratton noted in our markets blog, investors focused on Intel's manufacturing roadmap instead of its headline numbers for the quarter. Intel, once a leading global chipmaker, has fallen behind its rivals in both its own products and its attempt to manufacture chips for outside customers. 'This is a multiquarter — realistically, probably multiyear — kind of complete turnaround story before all the benefits start to show up,' TECHnalysis Research president and chief analyst Bob O'Donnell told Yahoo Finance following the report. Boston Beer Company says strong profits helped brewer absorb tariff costs The Boston Beer Company (SAM) reported earnings and revenue that topped analyst expectations on Thursday, and the Samuel Adams brewer maintained its earnings outlook for the year. Profits were $5.45 per share on revenue of $625 million, versus estimates for earnings of $4.00 per share on $588 million, according to S&P Global Market Intelligence. SAM stock popped 6% on Friday, as the company also said it expects to see lower tariff costs than previously expected. For the full year, Boston Beer expects tariffs to weigh on costs by about $15 million to $20 million, instead of the $20 million to $30 million it previously modeled. "Right now, I think we're very happy with the performance," Boston Beer CEO Michael Spillane said on the earnings call. "Not only that, but that's allowed us to offset some of the tariffs that we've seen so far." The Boston Beer Company (SAM) reported earnings and revenue that topped analyst expectations on Thursday, and the Samuel Adams brewer maintained its earnings outlook for the year. Profits were $5.45 per share on revenue of $625 million, versus estimates for earnings of $4.00 per share on $588 million, according to S&P Global Market Intelligence. SAM stock popped 6% on Friday, as the company also said it expects to see lower tariff costs than previously expected. For the full year, Boston Beer expects tariffs to weigh on costs by about $15 million to $20 million, instead of the $20 million to $30 million it previously modeled. "Right now, I think we're very happy with the performance," Boston Beer CEO Michael Spillane said on the earnings call. "Not only that, but that's allowed us to offset some of the tariffs that we've seen so far." Charter loses more broadband users in Q2 as competition heats up Charter Communications (CHTR) stock fell 10% premarket Friday after reporting a higher-than-expected fall in broadband subscribers in the second quarter. Reuters reports: Read more here. Charter Communications (CHTR) stock fell 10% premarket Friday after reporting a higher-than-expected fall in broadband subscribers in the second quarter. Reuters reports: Read more here. Puma stock plunges after reporting net loss, with challenges persisting throughout 2025 Puma ( stock plunged 17% after the German sports apparel company lowered its forecast and said it now expects sales to fall by double digits this year. During the second quarter, sales fell everywhere except Latin America and the Middle East, particularly in apparel (-10.7%) and accessories (-6.4%). Footwear sales grew 5.1%, which wasn't enough to offset softness elsewhere. The company swung to a net loss of 241 million euros (roughly $282 million), compared to net income of 41.9 million euros the year before. The sportswear company also noted a hit from tariffs. "Despite ongoing mitigating measures such as supply chain optimization, pricing adjustments and partner collaboration, the U.S. Tariffs are expected to have a mitigated negative impact in 2025 of around € 80 million on gross profit," Puma said in its release. Puma ( stock plunged 17% after the German sports apparel company lowered its forecast and said it now expects sales to fall by double digits this year. During the second quarter, sales fell everywhere except Latin America and the Middle East, particularly in apparel (-10.7%) and accessories (-6.4%). Footwear sales grew 5.1%, which wasn't enough to offset softness elsewhere. The company swung to a net loss of 241 million euros (roughly $282 million), compared to net income of 41.9 million euros the year before. The sportswear company also noted a hit from tariffs. "Despite ongoing mitigating measures such as supply chain optimization, pricing adjustments and partner collaboration, the U.S. Tariffs are expected to have a mitigated negative impact in 2025 of around € 80 million on gross profit," Puma said in its release. Phillips 66 profit beats estimates on higher refining margins Phillips 66 (PSX) stock rose about 1% in premarket trading after the US refiner reported an adjusted profit of $2.38 per share, beating Wall Street EPS estimates of about $1.71. During the quarter, Phillips 66 returned $906 million to shareholders through dividends and share buybacks. Reuters reports: Read more here. Phillips 66 (PSX) stock rose about 1% in premarket trading after the US refiner reported an adjusted profit of $2.38 per share, beating Wall Street EPS estimates of about $1.71. During the quarter, Phillips 66 returned $906 million to shareholders through dividends and share buybacks. Reuters reports: Read more here. Health insurer Centene reports surprise quarterly loss Centene's (CNC) stock fell 12% before the bell on Friday after the health insurance company reported a quarterly loss and warned of a revenue slump from government-backed plans. Read more here. Centene's (CNC) stock fell 12% before the bell on Friday after the health insurance company reported a quarterly loss and warned of a revenue slump from government-backed plans. Read more here. Deckers stock soars after Hoka, Ugg sales surge Hoka sneakers and Ugg brand shoes boosted Deckers (DECK) sales and profits last quarter, sending shares up more than 14% after hours. On Thursday, Deckers reported net sales grew 17% to $964.5 million, above estimates of $901.4 million, per Bloomberg data. Profits surged 24%, with diluted earnings per share coming in at $0.93. "HOKA and UGG outperformed our first quarter expectations, with robust growth delivering solid results to begin fiscal year 2026," CEO Stefano Caroti said in a press release. "Though uncertainty remains elevated in the global trade environment, our confidence in our brands has not changed, and the long-term opportunities ahead are significant. We will lean on the fundamental strengths of our powerful operating model as we continue executing our strategy." The main story for the quarter was Deckers' international business: International net sales rose 49.7%, offsetting a 2.8% decline in domestic sales. The company expects net sales for the current quarter in the range of $1.38 billion to $1.42 billion, in line with analyst estimates. Earnings are expected to be in the range of $1.50 to $1.55 per share. Read more here. Hoka sneakers and Ugg brand shoes boosted Deckers (DECK) sales and profits last quarter, sending shares up more than 14% after hours. On Thursday, Deckers reported net sales grew 17% to $964.5 million, above estimates of $901.4 million, per Bloomberg data. Profits surged 24%, with diluted earnings per share coming in at $0.93. "HOKA and UGG outperformed our first quarter expectations, with robust growth delivering solid results to begin fiscal year 2026," CEO Stefano Caroti said in a press release. "Though uncertainty remains elevated in the global trade environment, our confidence in our brands has not changed, and the long-term opportunities ahead are significant. We will lean on the fundamental strengths of our powerful operating model as we continue executing our strategy." The main story for the quarter was Deckers' international business: International net sales rose 49.7%, offsetting a 2.8% decline in domestic sales. The company expects net sales for the current quarter in the range of $1.38 billion to $1.42 billion, in line with analyst estimates. Earnings are expected to be in the range of $1.50 to $1.55 per share. Read more here. Intel stock rises on Q2 revenue beat, plans to cut 15% of workforce Intel (INTC) second quarter revenue beat analyst estimates, but its earnings fell short of expectations. The chip giant also said it is slashing its workforce by 15% and expects to have approximately 75,000 employees by the end of the year. Intel's new CEO Lip-Bu Tan has already undertaken or is exploring several cost-cutting measures. According to the Oregonian, the company is shuttering its automotive business, outsourcing marketing jobs, and laying off factory workers. Yahoo Finance's Daniel Howley has more details on Intel's results: Read more here. Intel (INTC) second quarter revenue beat analyst estimates, but its earnings fell short of expectations. The chip giant also said it is slashing its workforce by 15% and expects to have approximately 75,000 employees by the end of the year. Intel's new CEO Lip-Bu Tan has already undertaken or is exploring several cost-cutting measures. According to the Oregonian, the company is shuttering its automotive business, outsourcing marketing jobs, and laying off factory workers. Yahoo Finance's Daniel Howley has more details on Intel's results: Read more here. Intel to report Q2 earnings as Wall Street looks for signs of turnaround Intel (INTC) will report its second quarter earnings on Thursday as the company's new CEO, Lip-Bu Tan, continues his attempt to turn around the ailing chip giant. Yahoo Finance's Dan Howley details what to expect when Intel reports: Read more here. Intel (INTC) will report its second quarter earnings on Thursday as the company's new CEO, Lip-Bu Tan, continues his attempt to turn around the ailing chip giant. Yahoo Finance's Dan Howley details what to expect when Intel reports: Read more here. 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