Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) foray into quantum computing technology with Willow has found Wall Street admirers.

The Alphabet Analyst: On Tuesday, Bank of America analyst Justin Post issued a note on Alphabet following Google's unveiling of Willow. The analyst reiterated his Buy rating for the company with a price target of $210.

Main Takeaways: Alphabet's announcement centered on reducing the number of errors with quantum computing as computing power increased and a benchmark computation that showed the chip performing much faster than current computing capacity.

Post noted that Willow could provide Alphabet with a significant tech moat in the long run. He estimated the commercial introduction of the technology to be several years away.

Still, Post is optimistic.

"Advancements with Willow, which illustrate that Alphabet remains at the leading edge of technology innovation, are important for stock sentiment," he said. "Alphabet has a track record of developing next-gen technologies with successful monetization," he continued. "Products and technologies that have proven applications and could be underappreciated in the stock could include AI Overviews (using Gemini), TPUs, Cloud, Workspace, and Waymo."

Alphabet's stock is trading up over 10% this week, closing in on a market capitalization of over $2.5 trillion.

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