Further regulations are planned to restrict chip supplies to Chinese customers from Taiwan Semiconductor (TSM 0.04%), Intel (INTC), and other producers, reports Bloomberg. It comes after some of TSMC's chips were secretly diverted to Huawei, currently on the U.S. government blacklist.

Quantum computing stocks rebounded yesterday, as B. Riley Securities raised its price targets on Rigetti Computing (RGTI 47.93%) and D-Wave Quantum (QBTS 23.50%). Analyst Craig Ellis believes "materially underappreciated" quantum advances boost confidence in the scalable technology's ability to outstrip current processors.

• Doubling price targets: The broker raised its price target on Rigetti from $4 to $8.50, and on D-Wave from $4.50 to $9. Rigetti jumped 48% in response on Tuesday, with D-Wave up 23%. Both are still well down from before Nvidia (NVDA -1.10%) CEO Jensen Huang's claims that useful quantum computing is still decades away.
• "Still quite a ways off from being a very useful paradigm": Meta (META -2.31%) CEO Mark Zuckerberg added his bearish thoughts this week, though he did admit he's "not really an expert on quantum computing."

JPMorgan (JPM 1.33%) kicks off the bank reporting season before the market bell, posting record annual profit, as the stock has climbed 47% in the past 12 months on the back of four quarters of earnings beats. Analysts expected fourth quarter earnings to dip a little from Q3, yet Q4’s $43.74 billion in revenue was higher than $43.3 billion reported in the third quarter.

• What was expected: Net interest income remains a key measure, and the bank is expecting about $91.5 billion for the full year. Though Q3 debit and credit card sales rose 6% year over year, there could be some credit write-offs on the cards.
• "The interest rate environment is going to prove to be the biggest wild card": Scott Siefers at Piper Sandler sees the outlook for banks as “pretty good,” with analysts generally bullish as the incoming administration is expected to relax banking regulations.