Quantum computing, though still in its early stages, is expected to be the next big revolution after artificial intelligence (AI). 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.
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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. Today, we’ve selected stocks with “Strong Buy” ratings from Wall Street analysts.
Here are today’s top quantum computing stock picks. Click on any ticker to thoroughly research the stock before you decide whether to add it to your portfolio.
Rigetti Computing (RGTI) – Rigetti Computing’s future lies in its hybrid quantum-classical systems, which aim to speed up progress in areas like pharma and finance by solving complex computing problems. The company recently completed a $350 million equity offering, with the proceeds set to support its quantum computing expansion plans. Overall, the analyst consensus on the stock is Strong Buy, and its average price target of $15.00 implies an upside of 32.16%.
Nvidia (NVDA) – Nvidia is making big moves in quantum computing with its ABCI-Q supercomputer, the largest quantum research system. Also, it is setting up a quantum research hub in Boston, working with Harvard and MIT to improve quantum error correction and hybrid computing. Overall, the analyst consensus on the stock is Strong Buy, and its average price target of $173.19 implies an upside of 19.05%.
IonQ (IONQ) – IonQ’s advanced trapped-ion technology helps solve complex problems more efficiently than classical computers. To speed up quantum system development, the company recently announced a $1.065 billion acquisition of UK-based Oxford Ionics. Earlier this year, IonQ also unveiled plans to raise $500 million to support its ongoing R&D initiatives. Overall, the analyst consensus on the stock is Strong Buy, and its average price target of $43.00 implies an upside of 8.86%.