The quantum computing stocks featured below are poised to commercialize their technology across multiple industries. Quantum computing promises to transform various sectors of our world, from financial services to medical research. Also, it may enable groundbreaking advances and discoveries that aren’t possible with traditional classical computing.
The three quantum computing stocks to buy outlined in this article represent the best opportunities investors have to compound their wealth to seven figures. We’ve only just started to see the potential of this industry and understand the implications of this new tech.
So, here are three quantum computing stocks for investors who want to earn a potential seven-figure sum.
Hewlett Packard Enterprise (HPE)
Hewlett Packard Enterprise (NYSE:HPE) focuses on IT and quantum computing through its Intelligent Edge segment. The company has demonstrated significant achievements in quantum computing research.
HPE’s Intelligent Edge segment provides solutions that bring computation closer to the data source. Integrating quantum computing capabilities with Intelligent Edge technologies can offer unique advantages, such as real-time data processing and enhanced decision-making capabilities at the network’s edge.
Most recently, the Intelligent Edge segment reported revenue of $902 million, an increase of 9% year-over-year. This segment continues to grow, driven by strong demand for edge computing solutions. The company also achieved an EPS of $0.48, which surpassed the consensus estimate of $0.45. This compares to an EPS of $0.63 in the same quarter of the previous year.
HPE is a well-known brand akin to a more modern version of IBM (NYSE:IBM). It could be a good pick for those who like to stay with the blue-chip options while also having the potential to mint new millionaires.
IonQ (IONQ)
IonQ (NYSE:IONQ) is a leader in developing trapped-ion quantum computers and making significant strides in the field. The company collaborates with major cloud platforms.
IonQ’s primary technology involves trapped-ion quantum computers, which utilize ions trapped in electromagnetic fields as qubits. This technology is known for its high-fidelity operations and stability.
Recently, IonQ achieved a milestone of 35 algorithmic qubits with its IonQ Forte system, a year ahead of schedule. This achievement allows the system to handle more sophisticated and more extensive quantum circuits €‹. IonQ’s growth and technological advancements have been recognized in various industry lists, such as Fast Company’s 2023 Next Big Things in Tech List and Deloitte’s 2023 Technology Fast 500 List.
With a market cap of just 1.79 billion, it remains a small-cap quantum computing stock that could hold significant upside potential for investors. Its developments so far have been promising, and it could prove to be a company that will make early investors rich.
Rigetti Computing (RGTI)
Pure-play quantum computing company Rigetti Computing (NASDAQ:RGTI) is known for its vertically integrated approach. This includes designing and manufacturing quantum processors.
Rigetti has achieved a significant milestone with its 128-qubit chip, which promises to advance quantum computing capabilities and enable new applications. This development is a key part of Rigetti’s roadmap to scale up quantum systems and improve performance metrics.
Also, in Q1 2024, Rigetti reported a 99.3% median 2-qubit gate fidelity on its 9-qubit Ankaa-class processor. This high level of fidelity is crucial for reliable quantum computations and positions Rigetti well against competitors.
The market cap of RGTI is a fraction of IONQ’s at just under 200 million at the time of writing. Its progress is similarly impressive, so it could hold significant upside and potentially mint a new generation of millionaires with a large enough investment.
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.
Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.