The Quantum Edge: 3 Stocks on the Cutting Edge

Stocks to buy

Much like artificial intelligence, quantum computing could be a game-changer. All of which could have a substantial impact on quantum computing stocks.

Its ability to perform tough calculations in just a few seconds could help improve and speed up drug development, for example. According to Forbes, “Scientists, such as those at Swiss pharmaceutical company, Roche hope that quantum simulations will speed up the development of drugs and vaccines to protect against the likes of Covid-19, influenza, cancer and even potentially find a cure for Alzheimer’s.”

It could bring deeper analytics to finance, helping to speed up trades and data speed.  It could even help calculate ways for us to reach climate change goals.

Even better, analysts at Fortune Business Insights say the quantum computing market could be worth $6.5 billion by 2030 from just $928.8 million in 2023.  That being said, investors may want to consider these top quantum computing stocks.

IonQ (IONQ)

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The first time I mentioned IonQ (NYSE:IONQ), it traded at $4.56 in March. At the moment, it’s up to $14.80 and could push even higher. All thanks to the potential of quantum computing. 

Helping, its IonQ Forte is now available on Amazon Braket, a fully managed quantum computing services from Amazon Web Services. Also, while the company’s second-quarter EPS of 22 cents missed expectations by seven cents, its revenues were up 121% yearly to $6.1 million. That beat expectations by $1.1 million. Plus, IONQ just raised its full-year revenue guidance to a new range of $21.2 million to $22 million from $18.9 million to $19.3 million.

Billionaires are jumping on board, too. James Simons of Renaissance Technologies bought over 1.2 million shares.  And Millennium Management’s Israel Englander picked up more than 800,000 shares.

Quantum Computing (QUBT)

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There’s also Quantum Computing (NASDAQ:QUBT). At just 86 cents, the $65 million company also could see higher highs, as investors wake up to the opportunity. Helping, the company has received several new contracts, including another one from NASA.

According to a company press release, QUBT will “build and test for NASA Ames an innovative photonic sensor instrument to provide accurate measurement of atmospheric particulates such as clouds, aerosols, smoke flume, volcanic ashes, etc., in order to identify physical properties including size, shape and chemical composition.”

Better, QUBT just kicked off its commercial delivery of its computing deliveries. In fact, QUBT just “secured multiple hardware sales of its state-of-the-art Reservoir Computer and Quantum Random Number Generator to Assured Cyber Protection Ltd and AI firm Millionways.”

Defiance Quantum ETF (QTUM)

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Or, for solid diversification and low cost, look at the Defiance Quantum ETF (NYSEARCA:QTUM), which I mentioned on Nov. 30. At the time, it traded at $50.40. Today, it’s up to $53.60 and could push even higher on the game-changing potential of quantum computing.

With an expense ratio of 0.40%, the fund provides exposure to quantum computing, artificial intelligence, and machine learning, with holdings in Intel (NASDAQ:INTC), Nvidia (NASDAQ:NVDA), and Applied Materials (NASDAQ:AMAT) to name a few. From its current price of $50.40, I’d like to see QTUM closer to $60 a share.

On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.

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