U.S.-based quantum computing stocks — Rigetti Computing (RGTI), IonQ (IONQ), and D-Wave Quantum (QBTS) fell sharply in the latest trading session. After reaching new highs in mid-October, quantum stocks have entered a difficult stretch over the past few weeks, with sharp swings and renewed volatility.
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Despite the pullback, the long-term promise of quantum computing hasn’t changed. The next phase will depend on how effectively companies can demonstrate technological progress, secure strategic partnerships, and manage cash in a challenging market.
What Lies Ahead for Quantum Stocks?
The quantum computing sector is shifting from an academic concept to a high-risk, high-reward investment story, driven by technical progress and rising government and corporate funding. Pure-play names like IONQ, RGTI, and QBTS remain highly volatile, each advancing on a different tech path with its key milestones to watch.
1. IonQ, which uses trapped-ion technology, remains the sector’s momentum leader. IonQ recently reached 99.99% two-qubit gate fidelity — the highest reported in the world — showing how accurately its quantum systems can perform operations. The company says this breakthrough will power its next-generation 256-qubit systems planned for 2026. However, IONQ stock carries the highest valuation in the group, trading at a steep premium to current sales. Notably, IONQ has a forward price/sales ratio of 177.7, compared to the sector average of 3.55.
2. Rigetti Computing relies on superconducting quantum processors and is deeply tied to U.S. government and defense contracts. Its growth will depend on landing new multi-year agreements, as well as expanding access through major cloud platforms. This government dependence makes the stock sensitive to any missed milestones or contract delays.
3. D-Wave Quantum operates in a unique niche with its quantum annealing technology, which is geared toward optimization problems in areas like logistics and finance. Investor focus should be on customer growth and adoption of its hybrid solvers, especially within its U.S. government business unit. While D-Wave’s specialization offers differentiation, the company remains highly volatile due to cash burn and past insider selling.
For investors, the risks are still very high, including sharp stock swings and possible share dilution. But the long-term upside is also significant, with analysts expecting strong sales growth if the technology continues to advance.
RGTI, QBTS, IONQ: Which Is the Best Quantum Stock, According to Analysts?
Using TipRanks’ Stock Comparison Tool, we have compared quantum stocks to see which stock offers higher upside to investors. Below is a screenshot for reference.
