Quantum computing, though still in its early stages, is expected to be the next big revolution after artificial intelligence. This emerging technology can tackle complex problems more quickly than traditional computers due to its ability to process information using quantum bits (qubits) instead of regular bits. Thus, investing in quantum computing stocks could give long-term investors a chance to benefit from new technology and market growth.
To find such stocks, take a look at TipRanks’ Quantum Computing Stocks page. It allows you to compare stocks based on analyst consensus, price targets, and key technical indicators, among others.
When choosing stocks to buy, it is essential to evaluate their upside potential. Thus, here are today’s top quantum computing stock picks, each with over 25% upside potential in the next 12 months. Click on any ticker to thoroughly research the stock before you decide whether to add it to your portfolio.
Arqit Quantum (ARQQ) – Arqit Quantum focuses on advancing quantum encryption and cybersecurity through its technologies. The company is known for its QuantumCloud platform, which delivers quantum-safe encryption to protect data against future quantum computing threats. Overall, the analyst consensus on the stock is Moderate Buy and its average price target of $52 implies an upside of 120.9%.
Onto Innovation (ONTO) – Onto Innovation is focused on advanced metrology and inspection solutions that support the manufacturing of quantum devices. The stock has earned an analyst consensus of Strong Buy. With an average price target of $241.67, the stock’s implied upside is 75.01%.
IonQ (IONQ) – IonQ’s advanced trapped-ion technology helps solve complex problems more efficiently than classical computers. The company also disclosed plans to raise $500 million to fund its ongoing research and development efforts. IONQ stock has earned an analyst consensus of Moderate Buy and an average price target of $41.60, indicating a 66.87% upside.
Questions or Comments about the article? Write to editor@tipranks.com