Investors eye these 4 emerging quantum computing stocks for quick profits

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on May 6, 2024
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  • United States has parked over $3.0 billion in quantum computing so far.
  • Here are the top quantum computing stocks that could benefit from it.
  • A brief overview of what each of the three stocks have to offer.

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Investments going into quantum computing have been on a rise recently especially since artificial intelligence remains the front and centre of all financial debates. 

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In fact, the United States alone has parked over $3.0 billion in quantum computing so far. Having said that, here are the top three quantum computing stocks for quick profits. 

IONQ Inc (NYSE: IONQ)

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IONQ is on our list of best quantum computing stocks to buy this year as it close to doubling its revenue on a year-over-year basis in 2023. 

The New York listed firm ended last year with bookings up a whopping 166% as well. More importantly, Peter Chapman – its chief executive expects even better performance on the back of AI frenzy in 2024. 

By shifting AI workloads to our increasingly powerful quantum computers, IONQ can help address the world’s next great computing challenge.

IONQ stock is currently down well over 50% versus its 52-week high which also spells opportunity for investors interested in a position at a discount. 

Rigetti Computing Inc (NASDAQ: RGTI)

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Rigetti is another great pick in top quantum computing stocks for quick profits primarily for its ties with the public sector. 

Last year, the company based out Berkeley, California signed a five-year contract with the Air Force that is expected to help narrow its loss moving forward. 

What’s particularly different about $RGTI is its hybrid approach. The Nasdaq-listed firm is committed to bridging classical and quantum computing together. 

Wall Street currently has a consensus “buy” rating on Rigetti Computing stock that, down 40% versus its year-to-date high at writing, maybe a lucrative buy if you’re on a hunt for a bargain. Note that it does have adequate funding to support operations through the back half of 2025 as well. 

D-Wave Quantum Inc (NYSE: QBTS)

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D-Wave makes it to our list of best quantum computing stocks in 2024 as it has recently teamed up with Zapata AI. 

The said agreement puts generative artificial intelligence together with quantum computing and is expected to eventually help drive significant profit for $QBTS. 

Alan Baratz – chief executive of the New York-listed firm has convinced the deal with Zapata will “user in the commercial era of quantum machine learning”. D-Wave is scheduled to report its Q1 earnings on May 13th

Consensus is for it to lose 8 cents a share – down significantly from 20 cents per share last year. Much like its peers, you can notch up D-Wave Quantum stock at about 40% down versus its YTD high at writing.

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