While Honeywell (HON) – Get the report from Honeywell International Inc. 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 in a technology that has long seduced the world of science fiction .
Darius Adamczyk, Chairman and CEO of Honeywell International (HON) – Get the report from Honeywell International Inc.the industrial technology and manufacturing company, told Jim Cramer on a recent episode of “Mad Money” that the company is poised to play a big role in quantum computing.
Adamczyk said Honeywell invests in game-changing initiatives, some of which are generating profits today, some of which will pay off in three or five years.
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 across North America would allow robots to replace some workers in an increasingly tight job market.
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Another of these more immediate initiatives is quantum computing, which can help solve problems that traditional computers simply cannot solve. 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.
Despite the innovation, Honeywell’s stock has been in a slump for several months. Real money columnist Bruce Kamich wrote recently that although he cautioned about the stock last fall, “unfortunately, I don’t find the charts or indicators on HON bullish enough to warrant a recommendation of purchase”. From a technical point of view, “we will probably have a better buying opportunity in a few months”.
Through its broad portfolio of engineering projects, Honeywell has assembled a team of atomic, molecular, and optical physicists, scientists, engineers, and technicians specializing in the design and development of trapped-ion quantum computers.