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.
D-Wave Quantum (QBTS) – QBTS recently launched the Leap Quantum LaunchPad program to speed up the deployment of quantum computing apps. This initiative offers a 3-month free trial of the company’s Advantage quantum computers. QBTS’ progress in quantum technology shows promise for industries like AI, logistics, and financial modeling. Overall, the analyst consensus on the stock is Strong Buy and its average price target of $8.63 implies an upside of 34.63%.
Microsoft (MSFT) – Microsoft launched its quantum chip, Majorana 1, last week. This chip uses topological qubits, which are more stable and less error-prone than traditional qubits. The stock has earned an analyst consensus of Strong Buy. With an average price target of $510.38, the stock’s implied upside is 26.33%.
Quantum (QMCO) – QMCO is working on advanced storage solutions to handle the high data demands of quantum computing. Its StorNext file system is capable of handling huge amounts of data generated by quantum computers. The stock has earned an analyst consensus of Strong Buy. QMCO stock has earned an analyst consensus of Hold and an average price target of $19, indicating a 44.49% upside.