The 3 Best Quantum Computing Stocks to Buy in June 2024 – InvestorPlace
Technology firms, both public and private, have been working hard to develop quantum computing technologies for decades. The reasons for that are straightforward. Quantum machines, which harness the quantum mechanics undergirding subatomic particles, have a number of advantages over classical computers. Portfolio optimization and climate predictive algorithms that improve with more complexity are better handled by quantum computers.
U.S. equities markets have surged with the rise of generative artificial intelligence (AI) and its potential to create enormous efficiencies and profits for firms across various industries. While AI has brought quantum computing back into the spotlight, a lack of practical ways to scale these complex products has severely dented the performance of pure-play quantum computing stocks, such as IonQ (NYSE:IONQ) and Rigetti Computing (NASDAQ:RGTI).
Fortunately, not every public company invested in quantum computing has seen doom and gloom. Below are the three best quantum computing stocks investors should buy in June.
Source: shutterstock.com/LCV
International Business Machines (NYSE:IBM) is a legacy American technology business. It has its hands in everything from cloud infrastructure, artificial intelligence, and technology consulting services to quantum computers.
The firm committed to developing quantum computing technologies in the early 2000s and tends to publish new findings in the burgeoning field frequently. In December 2023, IBM released a new quantum chip system, Quantum System Two, that leverages the firms Heron processor, which has 133 qubits. Qubits are analogous to bytes on a classical computer. But instead of being confined to states of 0s and 1s, qubits, by way of superposition, can assume both states at the same time.
Moreover, what makes Quantum System Two particularly innovative is its use of both quantum and classical computing technologies. In a press release, IBM states, It combines scalable cryogenic infrastructure and classical runtime servers with modular qubit control electronics. IBM believes the combination of quantum computation and communication with classical computing resources can create a scalable quantum machine.
IBMs innovations in quantum computing technologies as well as AI has not gone unnoticed either. Shares have risen 31.3% over the past 12 months. The computing giants relatively cheap valuation coupled with its exposure to novel, high-growth fields could boost the value of its shares in the long-term.
Source: sdx15 / Shutterstock.com
Investors have given Nvidia (NASDAQ:NVDA) attention and praise over the past 12 months due to its critical role in AI computing technologies. The chipmakers advanced GPUs, including the H100 and H200 processors, are some of the most coveted chips on the market. The new Blackwell chips, coming to the market in the second half of 2024, bring to the table even better performance.
Though Nvidias prowess in the world of AI captures much of the headlines, the firm has already made inroads into the next stage of computing. In 2023, Nvidia announced a new quantum system in conjunction with startup Quantum Machines. It leverages what Nvidia calls the Grace Hoper Super Chip (GH200) as well as the chipmaker advanced CUDA Quantum (CUDA-Q) developer software.
In 2024, Nvidia released its Quantum Cloud platform, which allows users to build and test quantum computing algorithms in the cloud. The chipmakers GPUs and its open-source CUDA platform will likely be essential to scaling up the quantum computing space.
Nvidias share price has surged 214.2% over the past 12 months.
Source: Bartlomiej K. Wroblewski / Shutterstock.com
Quantum computers are complex machines that require all kinds of components. Furthermore, it is vital for quantum systems to operate at extremely low temperatures in order to operate efficiently.
FormFactor (NASDAQ:FORM) specializes in developing cryogenic systems or systems that are meant to deal with low temperatures. Everything from wafer testing probes to low-vibration probe stations as well as sophisticated refrigerators call cryostats, FormFactor provides. Also, the firms analytical probe tools are useful for developing advanced chips, such as NAND flash memory.
With quantum computing systems and advanced memory chips in greater demand these days, FormFactor could see revenues and earnings rise in the near and medium terms. FormFactors share price has surged 77.5% over the past 12 months, underscoring that investors are taking notice of the companys long-term value.
At the beginning of May, FormFactor released first quarter results for fiscal year 2024 and topped revenue estimates while EPS came in line with market expectations. The firm expects strong demand for advanced memory chips, such as DRAM, will help propel revenue growth in the following quarters.
On the date of publication, Tyrik Torresdid 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.comPublishing Guidelines.
Tyrik Torres has been studying and participating in financial markets since he was in college, and he has particular passion for helping people understand complex systems. His areas of expertise are semiconductor and enterprise software equities. He has work experience in both investing (public and private markets) and investment banking.
Follow this link:
The 3 Best Quantum Computing Stocks to Buy in June 2024 - InvestorPlace
- D-Wave enters agreement to sell up to $400M shares from time to time - Yahoo Finance - June 14th, 2025 [June 14th, 2025]
- IBM is building a large-scale quantum computer that 'would require the memory of more than a quindecillion of the world's most powerful... - June 14th, 2025 [June 14th, 2025]
- Prediction: This Quantum Computing Stock Will Surge in 2025 - The Globe and Mail - June 14th, 2025 [June 14th, 2025]
- IBMs Fault-Tolerant Quantum Computer Breakthrough: Exec More Comfortable Than Ever About 2029 Delivery - TechRepublic - June 14th, 2025 [June 14th, 2025]
- Protection against quantum computing threats now within grasp for companies and institutions - Orange - June 14th, 2025 [June 14th, 2025]
- Planckian Partners With University of Naples to Accelerate Next-Gen Quantum Processor - The Quantum Insider - June 14th, 2025 [June 14th, 2025]
- Bitcoin devs scramble to protect $2.2tn blockchain from looming quantum computer threat - dlnews.com - June 14th, 2025 [June 14th, 2025]
- Quantum Art to Advance Scalable Quantum Computing Through Logical Qubit Compiler and NVIDIA CUDA-Q Integration - The Quantum Insider - June 14th, 2025 [June 14th, 2025]
- Why Shares of D-Wave Quantum Are Sinking This Week - The Motley Fool - June 14th, 2025 [June 14th, 2025]
- Mind-Blowing Quantum Leap: IBMs Groundbreaking Fault-Tolerant PC Set to Revolutionize Tech by 2029Prepare for Unprecedented Computational Power -... - June 14th, 2025 [June 14th, 2025]
- Why it's time to move beyond qubits for assessing quantum progress - Diginomica - June 14th, 2025 [June 14th, 2025]
- Quantum Computers Pose a Grave Risk to The Future. Here's Why. - ScienceAlert - June 10th, 2025 [June 10th, 2025]
- Want to Invest in Quantum Computing? 3 Stocks That Are Great Buys Right Now. - Yahoo Finance - June 10th, 2025 [June 10th, 2025]
- At 40 ISC 2025 Continues to Connect the Dots - HPCwire - June 10th, 2025 [June 10th, 2025]
- Vodafone teams up with Orca for quantum-powered network optimisation - Capacity Media - June 10th, 2025 [June 10th, 2025]
- IonQ goes quantum shopping: Buys Oxford Ionics for $1.075B - Silicon Canals - June 10th, 2025 [June 10th, 2025]
- Infleqtion Selected to Power the UKs Largest Quantum Computing Breakthrough - Business Wire - June 10th, 2025 [June 10th, 2025]
- BTQ Technologies Announces Strategic Partnership with QPerfect to Achieve Quantum Advantage Using Neutral Atom Quantum Processors - WV News - June 10th, 2025 [June 10th, 2025]
- Quantum computers are on the edge of revealing new particle physics - New Scientist - June 10th, 2025 [June 10th, 2025]
- Where Will IonQ Be in 5 Years? - The Motley Fool - June 10th, 2025 [June 10th, 2025]
- IonQ buys Oxford Ionics for $1.075B: 6 things to know about it - Tech Funding News - June 10th, 2025 [June 10th, 2025]
- IBM plans to build first-of-its-kind quantum computer by 2029 after 'solving key bottleneck' - Live Science - June 10th, 2025 [June 10th, 2025]
- IBM aims to build the worlds first large-scale, error-corrected quantum computer by 2028 - MIT Technology Review - June 10th, 2025 [June 10th, 2025]
- IBM announced that it will release a quantum computer that has solved the error problem by 2029. Qua.. - - June 10th, 2025 [June 10th, 2025]
- Vodafone aims to leverage quantum computer to streamline broadband installation routes - Telecompaper - June 10th, 2025 [June 10th, 2025]
- This tiny quantum computer could blow massive data centers out of the water with speed, power, and pure physics - TechRadar - June 1st, 2025 [June 1st, 2025]
- Where Will Rigetti Computing Be in 5 Years? - Yahoo Finance - June 1st, 2025 [June 1st, 2025]
- IonQ vs. Microsoft: Which Quantum Cloud Stock Is the Better Buy Today? - Zacks Investment Research - June 1st, 2025 [June 1st, 2025]
- Q1 2025 Quantum Technology Investment: Whats Driving the Surge in Quantum Investment? - The Quantum Insider - June 1st, 2025 [June 1st, 2025]
- Where Will Rigetti Computing Be in 5 Years? - The Motley Fool - June 1st, 2025 [June 1st, 2025]
- Our Online World Relies on Encryption. What Happens If It Fails? - Boston University - June 1st, 2025 [June 1st, 2025]
- Jim Cramer on D-Wave Quantum (QBTS): Of the Ones That Are Out There, This is the Best - Insider Monkey - June 1st, 2025 [June 1st, 2025]
- It Might Actually Be 20 Times Easier for Quantum Computers to Break Bitcoin, Google Says - Decrypt - June 1st, 2025 [June 1st, 2025]
- Want to Invest in Quantum Computing? 2 Stocks That Are Great Buys Right Now. - The Motley Fool - June 1st, 2025 [June 1st, 2025]
- IonQ vs. Microsoft: Which Quantum Cloud Stock Is the Better Buy Today? - Yahoo Finance - June 1st, 2025 [June 1st, 2025]
- CEOs who aren't yet preparing for the quantum revolution are 'already too late,' IBM exec says - Business Insider - June 1st, 2025 [June 1st, 2025]
- New quantum visualisation techniques could accelerate the arrival of fault-tolerant quantum computers - University of Oxford - June 1st, 2025 [June 1st, 2025]
- Marylands Quantum Capital Ambitions Rely on UMD Physicist Ronald Walsworth - Source of the Spring - June 1st, 2025 [June 1st, 2025]
- We asked an expert about quantum computer threat as Google and BlackRock ring the alarm - Crypto News - June 1st, 2025 [June 1st, 2025]
- Whats Happening With IONQ Stock? - Trefis - June 1st, 2025 [June 1st, 2025]
- New Startup Sygaldry Aims to Rethink AI Infrastructure With Quantum Hardware - The Quantum Insider - June 1st, 2025 [June 1st, 2025]
- Breaking encryption with a quantum computer just got 20 times easier - New Scientist - May 26th, 2025 [May 26th, 2025]
- D-Wave launches the Advantage2 quantum computer with more than 4,400 qubits - SiliconANGLE - May 26th, 2025 [May 26th, 2025]
- Nvidia in Talks to Invest in Quantum Startup PsiQuantum - The Information - May 19th, 2025 [May 19th, 2025]
- Quantum Computers Just Outsmarted Supercomputers Heres What They Solved - SciTechDaily - May 19th, 2025 [May 19th, 2025]
- Should You Buy IonQ Stock to Ride the Quantum Computing Revolution? The Answer May Surprise You - The Motley Fool - May 19th, 2025 [May 19th, 2025]
- D-Wave Quantum Stock Soaring On 509% Revenue Pop And Growth Prospects - Forbes - May 19th, 2025 [May 19th, 2025]
- Quantum Machines Launches Open-Source Framework that Cuts Quantum Computer Calibration From Hours to Minutes - The Quantum Insider - May 19th, 2025 [May 19th, 2025]
- Silicon qubits bring scalable quantum computing closer to reality - The Brighter Side of News - May 19th, 2025 [May 19th, 2025]
- Quantum Computers Are Here, but Are Cybersecurity Professionals Ready? - IoT World Today - May 19th, 2025 [May 19th, 2025]
- Quantum Computing Stock Tumbles After Last Week's 50% SurgeWatch These Key Levels - Investopedia - May 19th, 2025 [May 19th, 2025]
- Nvidia in talks to invest in PsiQuantum - Tom's Hardware - May 19th, 2025 [May 19th, 2025]
- Quantum computing: What is quantum error correction (QEC) and why is it so important? - Live Science - May 19th, 2025 [May 19th, 2025]
- Quantum Computing Roadmaps: A Look at The Maps And Predictions of Major Quantum Players - The Quantum Insider - May 19th, 2025 [May 19th, 2025]
- Quantum Computing Stock Surges as Firm Swings to Profit - Investopedia - May 19th, 2025 [May 19th, 2025]
- $850bn by 2040! Should I buy quantum computing stocks for my Stocks and Shares ISA? - Yahoo - May 19th, 2025 [May 19th, 2025]
- France, Germany, and the Netherlands Launch $33M Trilateral Quantum Initiative - The Quantum Insider - May 19th, 2025 [May 19th, 2025]
- Oxford Quantum Circuits Appoints Former GCHQ Director Sir Jeremy Fleming to Board - HPCwire - May 19th, 2025 [May 19th, 2025]
- Outside the Box: Socratic Machines and Quantum Ghosts - Fair Observer - May 19th, 2025 [May 19th, 2025]
- Preparing for the post-quantum era: a CIOs guide to securing the future of encryption - CyberScoop - May 19th, 2025 [May 19th, 2025]
- Quantum Computing First Quarter 2025 Earnings: EPS Beats Expectations, Revenues Lag - Yahoo Finance - May 19th, 2025 [May 19th, 2025]
- Nvidia in Talks to Invest in Quantum Computing Startup - The Information - May 19th, 2025 [May 19th, 2025]
- IonQ Stock Is Up 294% in the Past Year. Here's My Prediction For What Comes Next - The Motley Fool - May 19th, 2025 [May 19th, 2025]
- Does Billionaire Israel Englander Know Something Wall Street Doesn't? He Sold a Quantum Computing Stock Analysts Say to Buy. - The Motley Fool - May 19th, 2025 [May 19th, 2025]
- From R&D to ROI: The quantum computing revolution starts here - Techcircle - May 19th, 2025 [May 19th, 2025]
- How quantum computers could break RSA encryption and cure Alzheimer's - Interesting Engineering - May 19th, 2025 [May 19th, 2025]
- The race to perfect the quantum computer is on, and UC is helping America hold its lead - University of California - May 15th, 2025 [May 15th, 2025]
- Keysight Quantum Control System Embedded within Fujitsu and RIKENs World-Leading 256-Qubit Quantum Computer - Morningstar - May 15th, 2025 [May 15th, 2025]
- Keysight Technologies, Inc. Quantum Control System Embedded Within Fujitsu and Riken's 256-Qubit Quantum Computer - marketscreener.com - May 15th, 2025 [May 15th, 2025]
- The Worlds First Song Created by Artificial Intelligence Using a Quantum Computer Is HereIt Sounds Nothing Like What You Expect - The Daily Galaxy - May 11th, 2025 [May 11th, 2025]
- Regulation watch: how governments are dealing with the risks of quantum computing - Strategic Risk Global - May 11th, 2025 [May 11th, 2025]
- The age of the hype cycle: why science needs room to breathe - varsity.co.uk - May 11th, 2025 [May 11th, 2025]
- Quantums Double-Edged Sword: Balancing Risk and Readiness - InformationWeek - May 11th, 2025 [May 11th, 2025]
- The Computational Limit of Life May Be Much Higher Than We Thought - Yahoo - May 11th, 2025 [May 11th, 2025]
- BlackRock beefs up quantum compute threat warnings to Bitcoin investors - dlnews.com - May 11th, 2025 [May 11th, 2025]
- From false alarms to real threats: Protecting cryptography against quantum - cio.com - May 11th, 2025 [May 11th, 2025]
- Boosting quantum error correction using AI - Phys.org - May 11th, 2025 [May 11th, 2025]
- Laws governing finance and investment can help to protect society from dangers of quantum computing, study shows - Phys.org - May 11th, 2025 [May 11th, 2025]
- Quantum computing stocks jump after strong results from D-Wave Quantum (QBTS:NYSE) - Seeking Alpha - May 11th, 2025 [May 11th, 2025]
- Listen to the worlds first song made by a quantum computer and AI - The Next Web - May 10th, 2025 [May 10th, 2025]