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Honeywell International Inc. – Common is under Algo Engine buy conditions.

Quantum Computing Stocks Explode: The quantum sector was the standout performer of the session, fueled by reports of an impending $2 billion government award program to support domestic quantum firms.

  • Infleqtion (INFQ) skyrocketed 31.44% to $14.70 after signing a $100 million potential funding Letter of Intent with the US Department of Commerce under the CHIPS Act.
  • Rigetti Computing surged 30.57%, and IonQ climbed 12.25%.
  • IBM (NYSE: IBM) also rallied over 12% on the back of the broader quantum momentum.

The most significant latest development regarding Honeywell’s quantum computing business, Quantinuum, is its official move to go public. Below is a breakdown of the latest milestones, filing details, financials, and recent catalysts as of May 2026:—

The IPO Filing (May 2026)

  • Official S-1 Filed: On May 7, 2026, Quantinuum filed its Form S-1 registration statement with the SEC for an initial public offering.
  • Ticker & Exchange: The company plans to list on the Nasdaq under the ticker symbol “QNT”.
  • Underwriters: J.P. Morgan, Morgan Stanley, Jefferies, and Evercore ISI are leading the offering.
  • Ownership: Honeywell remains the majority owner (holding approximately 54% of the company). Other high-profile backers include Nvidia, JPMorgan Chase, Fidelity, Mitsui, and Amgen.

Valuation and Offering Details

    • Target Valuation: Market reports and chatter indicate Quantinuum is targeting a valuation of $20 billion or more. This is double its $10 billion private valuation from a funding round in late 2025.
    • Target Proceeds: The IPO is expected to raise upwards of $1.5 billion.

    Financial Disclosures (from the Prospectus)
    The filing revealed the highly speculative, high-burn nature of the pure-play quantum computing sector:

    • Q1 2026 Performance: Quantinuum brought in $5.2 million in revenue (a 73% drop YoY from $19.1 million in Q1 2025) and suffered a net loss of $136.6 million.
    • FY 2025 Performance: For the full year 2025, the company posted $30.9 million in revenue and a net loss of $192.6 million.
    • Cash Position: As of March 31, 2026, the company held $677.0 million in cash and cash equivalents.

    Note:* At a $20 billion valuation, the stock would trade at an implied Price-to-Sales (P/S) multiple exceeding 600x. Investors are paying a premium for future potential, specifically pointing to their universal fault-tolerant machine, “Apollo,” slated for 2029.4. 4. Recent Catalysts (May 21, 2026)


    On May 21, 2026, Quantinuum announced it received a letter of intent from the U.S. Department of Commerce.

    • The proposal offers federal R&D funding under the CHIPS and Science Act to help solve bottlenecks in building fault-tolerant trapped-ion quantum computers.
    • This government validation boosted broader market sentiment for quantum computing, and pushed Honeywell’s stock ($HON) up over 2% following the announcement.

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      Largest Memory Suppliers

      The memory industry is highly concentrated. Samsung, SK Hynix, and Micron collectively control roughly 70%+ of the global DRAM and NAND market.

      Micron Technology (USA)

      • Largest US memory producer
      • Strong in:
        • DRAM
        • NAND
        • HBM
      • Key supplier for AI servers and cloud infrastructure

      Micron has aggressively expanded US manufacturing and is one of the main Western alternatives to Korean memory suppliers.

      Largest Suppliers of Advanced Semiconductor Nodes

      These companies manufacture the most advanced logic chips (3nm, 2nm, AI accelerators, CPUs).

      TSMC (Taiwan) — Clear Global Leader

      TSMC dominates advanced-node manufacturing.

      Intel Foundry (USA)

      Intel is attempting a major comeback under its IDM 2.0 strategy.

      Key goals:

      • Compete in external foundry services
      • Regain process leadership
      • Build US and European manufacturing capacity

      Intel is pushing:

      • Intel 18A
      • 2nm-class technologies
      • Advanced packaging

      Intel still trails TSMC commercially but is strategically important because Western governments want alternatives to Asian supply concentration.

      The AI stack effectively cannot scale without:

      • TSMC advanced nodes
      • HBM memory from SK Hynix/Samsung/Micron
      • ASML EUV machines -Supplies EUV lithography tools enabling advanced nodes

      That trio is the backbone of modern AI compute infrastructure.

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      Pfizer, Inc. Common is under Algo Engine buy conditions.

      reported its Q1 2026 financial results on May 5, 2026, delivering a beat on both top and bottom lines as the company continues its transition away from peak pandemic-era revenues. Operational revenue from “launched and acquired products” surged 22%, driven by strong performance in the oncology and specialty care portfolios.

      Q1 2026 Earnings Summary

      • Adjusted EPS: $0.75 (Beat consensus estimate of $0.72 by $0.03).
      • Total Revenue: $14.45 billion (Beat estimate of ~$13.84 billion; up 5% year-over-year).
      • Operational Growth: 2% (Excluding COVID-19 products, operational revenue grew 7%).
      • GAAP EPS: $0.47 (Down from $0.52 in Q1 2025).

          • Full-Year Revenue: $59.5 billion – $62.5 billion.
          • Adjusted Diluted EPS: $2.80 – $3.00.

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          Zscaler, Inc. – Common is scheduled to report its fiscal third-quarter (Q3 2026) earnings on Thursday, May 28, 2026, after the market closes. Based on the company’s most recent guidance and analyst consensus as of May 1, 2026, here are the growth expectations:

          Q3 2026 Expectations (Quarterly)

          Earnings Per Share (EPS): Consensus estimates sit at $1.00 to $1.01, up from $0.84 in the same period last year (approx. 20% growth).

          Revenue Growth: Expected to be $834 million to $836 million, representing approximately 23% year-over-year (YoY) growth.

          Profit (Non-GAAP Operating Income) Growth: Projected at $187 million to $189 million, which is a growth of 28% to 29% YoY.

          Full-Year Fiscal 2026 Guidance
          Management recently raised its full-year outlook following strong Q2 results:

          ARR (Annual Recurring Revenue): Expected to reach $3.73–$3.745 billion, a 24% YoY increase.

          Total Revenue: Guided to $3.309–$3.322 billion, reflecting 24% YoY growth.

          Operating Profit: Guided to $742–$748 million, reflecting 28% to 29% growth.