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.
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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 analysts and an Outperform Smart Score (8, 9, or 10) on TipRanks. An Outperform Smart Score suggests that these stocks have the potential to beat the market.
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)– With a market cap of about $3.39 billion, Rigetti Computing’s future potential lies in its hybrid quantum-classical systems. The company’s latest achievement is a 40-qubit quantum processor integrated with classical computing resources, which boosts performance.
Interestingly, the stock has an analyst consensus of Strong Buy and its average price target of $6.10 implies a downside of 32.2%. RGTI stock has a Smart Score of nine.
D-Wave Quantum (QBTS) – QBTS develops quantum systems, software, and services and has a market cap of about $1.95 billion. The company’s new 4,400+ qubit Advantage2 processor offers a 25,000-fold speed improvement on materials science problems compared to the previous Advantage system.
Overall, the analyst consensus on the stock is Strong Buy. With an average price target of $6.56, the stock’s implied upside about 4.96%. QBTS stock has a Smart Score of nine.
Alibaba (BABA) – Alibaba, a Chinese e-commerce company, is making strides in quantum computing through its DAMO Academy. This lab, started in 2017, focuses on key tech areas, including quantum systems. Using its cloud and AI skills, Alibaba aims to bring quantum tech into its services, staying ahead in future tech.
The stock has earned an analyst consensus of Strong Buy and an average price target of $121.27, indicating a 40.36% upside. BABA stock has a Smart Score of eight.
