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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
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.
According to Wall Street analysts, the three stocks listed below have a Strong Buy rating and have upside potential as well. Click on any ticker to thoroughly research the stock before you decide whether to add it to your portfolio.
IonQ (IONQ) – IonQ recently announced a 99.99% two-qubit gate fidelity, the highest ever recorded for commercial quantum systems. This milestone boosts its position in the race toward scalable, error-resistant quantum systems.
The stock has earned an analyst consensus of Strong Buy. Also, IONQ stock has an average price target of $64.57, which implies upside of 5.49%.
Microsoft (MSFT) – Microsoft is building quantum computers using topological qubits, which are designed to be more stable. It recently made progress with reliable logical qubits, bringing it closer to building large, error-resistant systems.
Overall, the analyst consensus on the stock is Strong Buy. Based on the average price target of $631.18, MSFT stock has a potential upside of 22.11%.
RTX (RTX) – RTX is exploring quantum tech to improve defense systems. Also, it is working on quantum sensing, secure communications, and radar that could help detect threats more accurately and protect data in future military use.
RTX stock has an analyst consensus of Strong Buy. Also, its average price target of $196.73 implies upside potential of 10.49%.
What Is TipRanks’ Smart Investor Newsletter?
TipRanks’ Smart Investor Newsletter provides top investment ideas on a weekly basis to help self-directed investors make informed decisions using TipRanks’ proprietary data and research. The newsletter includes macroeconomic, market-wide, and company-specific analysis to help investors understand the trends that may influence their investments.
Stay ahead of the market – subscribe now!