Quantum computing stocks are high-risk, high-reward plays, where the tech still feels futuristic, but the potential upside could be transformative for your portfolio. While giants like NVIDIA (NVDA) and Alphabet (GOOGL) have stakes in the field, pure-play names like IonQ (IONQ), Rigetti Computing (RGTI), and D-Wave Quantum (QBTS) are gaining serious traction.
Each is taking a distinct approach in a sector expected to grow significantly over the next decade. With quantum tech reaching what Nvidia’s Jensen Huang recently called an “inflection point,” these companies are riding a powerful wave of both investor excitement and tangible technological progress.
IonQ (NYSE:IONQ) | The Trapped-Ion Powerhouse
IonQ is shaping up to be the quarterback of the quantum computing world—everyone’s watching, and for good reason. Their trapped-ion technology, which uses charged atoms suspended in electromagnetic fields, produces qubits with exceptional coherence times, translating to more stable and reliable calculations. They’ve already surpassed 100 qubits, and their systems are available across Amazon (AMZN), Microsoft (MSFT), and Google Cloud, making IonQ a top choice for developers building quantum applications.
In Q1, IonQ posted $7.6 million in revenue and forecasted full-year revenue between $75–$95 million, nearly doubling last year’s figure, while trimming losses to $0.14 per share from $0.19.
The buzz lately? Their aggressive M&A strategy. IonQ recently acquired Lightsynq Technologies to accelerate the development of fault-tolerant quantum systems and invested $1 billion in Oxford Ionics to boost R&D, aiming to scale up to 2 million physical qubits by 2030. They’ve also forged partnerships with heavyweights such as AstraZeneca and Nvidia in quantum-powered drug discovery and secured a key contract under DARPA’s Quantum Benchmarking Initiative.
Yes, a $10.4 billion market cap is steep given current revenues, but the long-term thesis hinges on IonQ’s strategic partnerships, cloud integration, and early mover advantage potentially paying off for investors willing to ride out the volatility.
Is IonQ a Buy, Hold, or Sell?
Currently, most analysts are bullish on IONQ stock. The stock features a Strong Buy consensus rating based on four Buy and one Hold ratings assigned in the past three months. No analyst rates the stock a sell. IONQ’s average stock price target of $43 implies ~11% upside over the next twelve months, despite shares having already rallied about 400% since this time last year.
Rigetti Computing (NASDAQ:RGTI) | The Superconducting Maverick
Rigetti’s story is a bit more turbulent, but still intriguing. Their superconducting gate-based systems are built for speed, executing operations in just 60–80 nanoseconds, far faster than ion-based platforms. That kind of performance is ideal for time-sensitive workloads, such as financial modeling and AI. As a vertically integrated company, Rigetti controls everything from chip design to cloud access, positioning itself for potential large-scale growth. Their 84-qubit Ankaa-3 system debuted in Q1, and they’re targeting enterprise clients, including HSBC and Moody’s.
However, the financial picture is rough. Q1 revenue dropped 52% to $1.47 million, and the company reported a staggering $200.99 million net loss on just $10.79 million in revenue for 2023, highlighting a steep burn rate. Still, Rigetti isn’t standing still. They landed a $35 million deal with Quanta Computer, secured a £3.5 million UK consortium lead focused on quantum error correction, and earned DARPA support—solid wins that keep them relevant.
Looking ahead, analysts expect revenue to grow to $23 million in 2026 and $38 million in 2027. It’s a high-risk play, but if execution improves, Rigetti could be at the start of a long-term turnaround.
Is RigettiStock a Good Buy?
On Wall Street, Rigetti stock carries a Strong Buy consensus rating based on five unanimous Buy ratings. No analyst rates the stock a hold or a sell. RGTI’s average stock price target of $15 implies almost 24% upside potential over the next twelve months.
D-Wave Quantum (NYSE:QBTS) | The Tempered All-Star
D-Wave Quantum is taking a different path—and making no apologies for it. Their quantum annealing technology, designed for optimization tasks like supply chain logistics and drug discovery, is already producing real-world results. Their Advantage2 system, with over 4,400 qubits, recently completed a magnetic simulation in minutes—something a classical supercomputer would take a million years to solve, according to a Science journal paper. In Q1, revenue hit a record $15 million, a sixfold increase year-over-year, with strong momentum expected to continue.
The stock has been on a tear, skyrocketing 1,281% over the past year, far outpacing IonQ’s 402% and Rigetti’s 840%. Their Leap cloud platform is available in 40+ countries and serves 25 Forbes Global 2000 clients, showcasing real commercial traction for quantum. But with a $5.22 billion market cap and a price-to-sales ratio nearing 200x, the valuation is steep and heavily speculative.
The key question is whether D-Wave’s annealing approach can hold its edge as gate-based systems advance. It’s still early days, and the verdict remains uncertain—but for now, D-Wave is proving that practical quantum solutions might not be as far off as once thought.
Is D-Wave a Good Stock to Buy?
D-Wave is currently covered by six Wall Street analysts, all of whom hold a bullish outlook. The stock carries a Strong Buy consensus rating with all six analysts assigning a Buy rating over the past three months. However, QBTS’s average price target of $13 suggests approximately 18% downside potential over the next twelve months.
Quantum computing stocks are far from safe bets—they come with deep losses, sky-high valuations, and intense competition from tech giants like Google and IBM. Still, IonQ’s enterprise-ready systems, Rigetti’s speed-focused tech, and D-Wave’s real-world traction make them standout players in a field with extensive long-term commercialization capacity. While the future of their revenues and profitability remains uncertain, all three deserve a spot on investor watchlists.
