It’s very easy to see why investors continue to be so interested in Quantum computing stocks. The field of quantum computing promises to break through the limits posed by classical computing. Those bottlenecks act as a constraint on computer science fields such as machine learning.
With that said it’s easy to then see why quantum computing is so compelling. For one, it promises to increase the speed of progress in fields such as artificial intelligence.
The field is forecast to grow rapidly throughout the remainder of this decade. One report puts that pace of growth at more than 32% annually. High-upside equities in this emerging sector clearly have the potential to produce strong returns for investors.
IonQ (IONQ)
One thing continues to set IonQ (NYSE:IONQ) apart from all other companies in the quantum computing space. It is the only company whose quantum systems are available on each of the big three cloud platforms. That is a very strong reason to believe that the stock will rise higher and meet the target prices analysts have assigned it.
Ionq boosts the world’s most powerful trapped ion quantum computer. It recently met a milestone by reaching 35 algorithmic qubits. What’s important to understand about that is two-fold. First, IonQ reached that milestone a year ahead of schedule. In addition, that will make its IonQ Forte Computer that much stronger for applications such as Quantum machine learning.
The field of quantum computing is rife with dense technical jargon that I readily admit I do not understand. However, what’s easy to understand is again that companies like IonQ have the ability to speed up the development of artificial intelligence. That’s hugely valuable and worth investing in.
Rigetti Computing (RGTI)
Look at the fundamentals of Rigetti Computing (NASDAQ:RGTI) and its stock doesn’t look very appealing at all.
The company managed to record $3.1 million in sales requiring $19.1 million in operating expenses, leading to a net loss of $22.2 million. It’s not that Rigetti Computing is particularly bad in that regard relative to other quantum computing firms. Profitability just isn’t there yet. It’s all about the promise of each of the firms and their ability to develop Quantum computing that has real-world applications.
The company is steady in that it has established strong connections within the public sector. It Inked an Indefinite Delivery Indefinite Quantity contract with the Air Force. That contract will help to smooth its operations.
What’s unique about Rigetti Computing is that it is using a hybrid approach in the quantum computing world. The company helped pioneer the architecture that bridges classical computing and quantum computing. Further, the company’s cloud approach allows anybody to access its computers remotely.
D-Wave Quantum (QBTS)
D-Wave Quantum (NYSE:QBTS) is certainly a high-potential stock in the sector with the ability to multiply in price severalfold. Like Rigetti computing, D-Wave Quantum is focused on a hybrid approach intended to bridge classical and quantum computing.
The company is focused on something referred to as quantum annealing. It is one of two dominant architectures in the quantum computing world, the other being gate models. Those interested in learning more about the differences can check out this article. It remains unclear which approach will prevail but based on some reading it seems that gate models have the early advantage.
The major hardware companies that now have commercially available quantum computers chose that route. For now, experts suggest that it’s still too early to tell. They recommend that companies that are experimenting with quantum computing should experiment with both types. There are certain advantages to quantum annealing and that makes d-wave quantum interesting.
On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
