There are some quantum computing stocks to buy for this month in Februrary. These companies trade at attractive valuations and have solid growth prospects. I feel that the potential of these companies is not yet fully priced into their valuations, which leaves money on the table that other inventors can take advantage of.
Quantum computing is set to be disruptive, with its potential to tackle complex computational problems exponentially faster than classical computers. These companies discussed in this article are at the forefront of this transformation, leveraging their expertise in quantum hardware and software development.
Due to the emerging nature of the industry, I also believe that these companies could mint a new generation of millionaires if one invests enough money into these companies. The low valuations and tiny market caps make them ideal targets for making a potential seven-figure return.
So here are three quantum computing stocks for investors to buy in February.
D-Wave Systems (QBTS)
D-Wave Systems (NYSE:QBTS) focuses on quantum computing technology. Its operating segments include Quantum Computing Hardware, Quantum Software, and Quantum Cloud Services.
While other investors focus on big market cap names like IBM (NYSE:IBM) or Microsoft (NASDAQ:MSFT), I believe that companies like DWAVE will be the ones that provide the most value to investors over the long run.
There’s a good reason why I believe that an investment in DWAVE will be accretive over the long run. The company recently unveiled its new 1,200+ Qubit Advantage2 prototype, which is being touted as the “most performant system available to customers today.”
D-Wave’s prototype will be accessible through its Leap real-time quantum cloud service. Existing customers will have access to the prototype, and others can test-drive it for free via a trial.
Wall Street is also bullish on QBTS. It has a “Strong Buy” rating from analysts, and its revenue is expected to surge 50.79% to 10.82 million.
Rigetti Computing (RGTI)
Rigetti Computing (NASDAQ:RGTI) exceeded expectations in the second quarter of 2023, with a 55.9% year-over-year increase in revenue to $3.3 million. Also, it completed its first QPU sale to a national lab. It formed a collaboration agreement with ADIA Lab to develop quantum computing solutions for practical applications in industries like investment.
However, I like RGTI stock for other reasons, too, beyond its short-term financial results. For one, there’s a 34.41% predicted increase in its stock price within the next twelve months. This forecast also comes with an estimate that its EPS will enter positive territory sometime around FY2027 or FY2028, which provides visibility for investors.
Revenues are also projected to reach an inflection point sometime around FY2025, with revenues leaping from $17 million to $34 million. This kind of visibility is uncommon in the quantum computing industry, even if they are only estimates from three outside Wall Street analysts.
Still, these forecasts could give some confidence that RGTI could have the potential to mint a new generation of millionaires with a sizable investment.
IonQ (IONQ)
IonQ (NYSE:IONQ) is a leading developer of quantum computing hardware and software.
Investorplace has covered IONQ’s achievements before, and I also agree that the company’s potential is somewhat understated. The company’s recent achievements, such as the unveiling of the U.S.’s inaugural quantum computing manufacturing hub and the renewal of partnerships with SKKU in South Korea, make it attractive.
Also, IonQ’s strong financial performance in Q3 2023, with year-over-year revenue growth of 122% and significant bookings totaling $26.3 million, means there’s significant demand in the market for its services.
As for its other achievements, IonQ has made its quantum computing technology accessible through cloud platforms. It has also spearheaded Quantum Computing as a Service (QCaaS), democratizing quantum computing by providing access to its quantum computers and professional services.
I think there’s plenty of potential in IONQ to surge higher, and for this reason it’s one of those quantum computing stocks to buy.
On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
