Looking for quantum computing stocks to buy? In the fast-evolving realm of technology, quantum computing has established itself as a true beacon of innovation, signaling a monumental shift from classical computing norms. This transformative technology is poised to effectively revolutionize our understanding of complex domains, including economics, healthcare, space, and whatnot. As we stand on the brink of this tech renaissance, the opportunity for solid long-term gains in quantum computing stock remains palpable for those who venture early into this high-tech frontier.
Quantum computing promises to enhance processing power and efficiency while symbolizing a major leap toward a future brimming with unexplored potential. With the quantum computing market witnessing rapid long-term growth and the emergence of new tech areas, savvy investors have a golden opportunity to capitalize on this burgeoning field. As we navigate these changes, staying up-to-date with quantum technology investments becomes increasingly important for those looking to leverage the next wave of tech innovation.
Quantum Computing Stocks to Buy: IBM (IBM)
IBM (NYSE:IBM) is at the forefront of a tech revolution, effectively leveraging the robust potential of quantum computing to redefine computational boundaries. With the unveiling of the IBM Quantum System Two last December, the company has taken a giant leap forward. This quantum behemoth is known to be the world’s most advanced quantum computer, which can efficiently tackle the most complicated mathematical puzzles. Moreover, introducing a novel quantum computing chip further amplifies IBM’s capabilities, setting the stage for an ambitious roadmap of quantum machines by 2033.
Furthermore, with AI’s demand surging among IBM’s clientele, the fusion of quantum computing will likely take both software and service offerings to unprecedented levels. CEO Arvind Krishna remarked how the firm’s AI-related pipeline has doubled in the last quarter of 2023, underscoring a strategic pivot that could effectively redefine the tech landscape. With an optimistic revenue growth guidance of about 5% for 2024, excluding currency fluctuations, and an impressive expected free cash flow of roughly $12 billion, IBM’s trajectory is clearly on an upward trajectory.
IonQ (IONQ)
IonQ (NYSE:IONQ) is a top pure-play if you are considering quantum computing stocks to buy, offering a unique vantage point into this cutting-edge technology. Its performance, underscored by a remarkable 117% uptick in share price over the past year, indicates the positive sentiment surrounding its business. Its stock has gained just 10% year-to-date (as of writing), which presents a golden opportunity for savvy investors to establish a foothold in the market.
Furthermore, the firm’s financials further validate its growth trajectory, with its third-quarter revenue soaring by a healthy 122% year-over-year to $6.1 million. This surge in sales, coupled with $26.3 million in new bookings for the same period, underscores the company’s enviable stride towards a milestone of $100 million in cumulative bookings within three years of commercialization. Additionally, its strategic partnership with Zapata AI to explore generative AI techniques on quantum hardware broadens its horizon beyond quantum computing, adding to its already compelling bull case.
Alphabet (GOOG, GOOGL)
Alphabet (NASDAQ:GOOG, GOOGL) has its tentacles in various tech verticals, and quantum computing is no different, with it declaring quantum supremacy back in 2019. The strides made since then, mainly with the 3rd generation Sycamore processor, underscore its commitment to refining the power and precision of its quantum computing systems. With error rates impressively low, between 1 in 10,000 to 1 in 100, the company is not just participating in the quantum computing arms race; it’s leading it.
This tech prowess is part of a broader strategy to construct an error-corrected quantum computer. Moreover, this goal appears closer within reach thanks to Alphabet’s incredible progress and significant breakthroughs. The company’s innovative approach to reducing quantum computing errors addresses a major challenge in the field. Hence, Alphabet’s quantum computing endeavors underscore its role as a pioneer and signal a transformative shift in computational capabilities.
On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.