The potential of quantum computing strikes a chord similar to artificial intelligence, holding promise to transform myriad industries. Like the ability to solve enigmatic challenges beyond the reach of classical computers, quantum computing encompasses a broad spectrum. Quantum computing delves into seemingly insurmountable problems in physics, chemistry, engineering, and medicine, treading upon paths where solutions were once thought improbable.
The quantum market, valued at $717.3 million in 2022, is forecasted to surge to over $6.5 billion by 2030, according to Fortune Business Insights. Moreover, this monumental advancement is further underscored by the U.S. government’s commitment to inject billions into expediting quantum computing development, underscoring the urgency for investors to explore the top quantum computing stocks.
Unraveling the Potential of D-Wave Quantum (QBTS)
Source: Shutterstock
One of the most compelling quantum stocks to consider is D-Wave Quantum (QBTS). It’s remarkable to note that from approximately 90 cents on Feb. 1, QBTS has galvanized itself to $2.08, buoyed by its groundbreaking 1,200+ Qubit Advantage2 prototype, touted as the “most performant system available to customers today.”
QBTS has delivered robust financial performance, evident in the 50% quarter-over-quarter revenue surge, along with an impressive 51% year-over-year growth. The company also reported a staggering $53.3 million cash balance in its recent quarter, depicting its robust financial health. These formidable credentials position QBTS as a compelling choice among quantum computing stocks.
Rigetti Computing (RGTI): Scaling New Heights
Source: Amin Van / Shutterstock.com
Rigetti Computing (RGTI) has been consistently elevating its position as one of the premier quantum computing stocks. With a surge from around 90 cents to a high of $1.53 since the beginning of the year, RGTI, currently at $1.30, is poised for further upward momentum.
RGTI solidified its standing with the introduction of its Ankaa-2 system, representing its high qubit count quantum processing unit available to the public. This monumental achievement further reverberates through its five-year deal with the Air Force Research Lab Information Directorate, enhancing its capabilities in quantum systems and underlining its relevance in the quantum computing realm.
Building a Diverse Portfolio with Defiance Quantum ETF (QTUM)
Source: SWKStock / Shutterstock
Alternatively, investors can broaden their exposure with an exchange-traded fund (ETF) like Defiance Quantum ETF (QTUM). QTUM surged from about $45 to a recent high of $58.51 since late October, and is currently at $57.53. This upward trajectory is propelled by its major holdings such as Nvidia, Advanced Micro Devices, and Marvell Technology.
With an expense ratio of 0.40%, QTUM offers access to a diverse range of 68 quantum computing and machine learning stocks, making it an enticing opportunity for investors seeking a well-rounded quantum computing portfolio.
On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
