Company’s CEO recently told Jim Cramer about plans for the design and development of trapped-ion quantum computers.
While Honeywell (HON) – Get Honeywell International Inc. Report is known for warehouse robotics and advances that have changed humanity’s understanding of outer space, the company is also hoping for a literal quantum leap into a technology that has long wowed the sci-fi world.
Darius Adamczyk, chairman and CEO of Honeywell International (HON) – Get Honeywell International Inc. Report, the industrial technology and manufacturing company, told Jim Cramer on a recent episode of “Mad Money” that the firm was about to make a big play in quantum computing.
Adamczyk said Honeywell is investing in breakthrough initiatives, some of which deliver profits today, some of which will pay off in three or five years down the road.
One such project was a recent strategic collaboration with Otto Motors, a division of Clearpath Robotics. The new automated option for warehouses and distribution centers throughout North America would allow robots to replace some workers in an increasingly tight warehouse job market.
Another of those more immediate initiatives is quantum computing, which can help solve problems that traditional computers simply can’t. Honeywell has merged hardware and software to create a leading quantum platform that will generate millions in profits this year and even more in the future, Adamczyk said.
Notwithstanding the innovation, Honeywell’s stock has been in a months long slump. Real Money Columnist Bruce Kamich wrote recently that even though he cautioned on the stock last fall, “unfortunately I am not finding the charts nor the indicators on HON bullish enough to warrant a buy recommendation.” From a technical standpoint, “we are likely to get a better buying opportunity in a few months.”
Through its wide array of engineering projects, Honeywell has assembled a team of atomic, molecular and optical physicists, scientists, engineers, and technicians who specialize in the design and development of trapped-ion quantum computers.
