The Top 3 Quantum Computing Stocks to Buy in March 2024 – InvestorPlace
Much like the artificial intelligence stock boom, we could see a similar rally with some of the topquantum computing stocksto buy. Quantum computing allows us to solve problems far too complex for your average computer, within minutes, or even seconds.
In fact, it may be able to help speed up solutions for machine learning, cybersecurity, medical treatments, the law, and education. Most exciting is its potential use in drug discovery.According to Medriva.com, The pharmaceutical industrys quest for new drugs is both vital and incredibly challenging, involving the screening of millions of compounds and rigorous testing.
However, with quantum computing, the industry could accelerate the identification and development of new pharmaceuticals by efficiently simulating molecular interactions on a quantum level,they added.
Can you imagine if quantum computing helped cure cancers?
No wonder governments all over the world are pledging billions to get quantum computing up and running in the next decade, according to the State of Quantum 2024 report.
With that, here are just a few top quantum computing stocks to buy and hold today.
Source: T. Schneider / Shutterstock
The last time I mentionedD-Wave Quantum(NYSE:QBTS), it traded at about 90 cents. At the time, I noted, Most recently, itinked a dealwithDeloitteto speed up quantum computing adoption for governments and companies all over Canada. Its even been working with Deloitte on transportation and national security issues in the U.S., too. Even better, the company isseeing quarter-over-quarter, and year-over-year growthin revenue, and customer bookings.
By Feb. 20, it was up to $2.17. Now at $1.43, I still like it long-term.
Fueling the upside, the company also just announced theavailability of its 1,200+ Qubit Advantage2prototype. According to the companys site, the new tool demonstrates significant performance gains on hard optimization problems and is expected to be particularly powerful for new use cases such as machine learning.
Helping, as noted in thecompanys investor deck, 80% of companies plan to increase their use of quantum computing over the next two to three years. Also, nearly 31% of companies have already abandoned complex problems they face because of the time to solve them.
Source: Bartlomiej K. Wroblewski / Shutterstock.com
Another one of the top quantum computing stocks to buy isRigetti Computing (NASDAQ:RGTI).
Over the last few weeks, the RGTI stock popped from about 95 cents to a high of $2.20. While its starting to pull back on profit-taking, RGTI is another hot quantum computing stock to buy and hold for the long haul.
Helping, analysts atAlliance Global Partnersjust initiated coverage of the RGTI stock with a buy rating, with a price target of $3.50.
There is a race to achieve quantum advantage and as the only company to publicly report multiple sales of a quantum computer at 99% fidelity, the firm said,as quoted by TheFly.com. The firm estimates revenue of $14.3M in 2024 and $21M in 2025, adding that it expects the inflection points to be in 2026 and 2027.
Well get a better idea of how RGTI is doing when it posts fourth quarter and full year 2023 results on March 14.
In addition, the company and Riverlane, a leader in quantum error correction technology just announced their participation in a project led by the US Department of Energys Oak Ridge National Laboratory to explore the challenges of integrating a quantum computer with a large-scale, supercomputing center,as noted in a recent press release.
Source: Shutterstock
Or, if you just want to make life easier for yourself, you can just invest in the Defiance Quantum ETF(NYSEARCA:QTUM). With this ETF, you can diversify with 71 quantum computing and machine learning-related stocks for less than $62 a share.
Better, since bottoming out in late October around $44.25, the QTUM ETF is now up to $61.42. From here, Id like to see it closer to $70, even $80 given the strong appeal of quantum computing and machine learning stocks.
With anexpense ratio of 0.40%, the Defiance Quantum fund provides exposure to quantum computing, artificial intelligence, and machine learning stocks, with holdings inIntel(NASDAQ:INTC),Nvidia(NASDAQ:NVDA),MicroStrategy(NASDAQ:MSTR), Rigetti Computing,Advanced Micro Devices(NASDAQ:AMD), andApplied Materials(NASDAQ:AMAT) to name a few. Again, as we note with exchange-traded funds, its always better to be well diversified, especially with strong up-and-coming markets like quantum computing.
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.comPublishing Guidelines.
Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.
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The Top 3 Quantum Computing Stocks to Buy in March 2024 - InvestorPlace
- Quantum Machines and Hamamatsu Photonics Forge Partnership for Enhanced Quantum Computing Control - Quantum Computing Report - May 1st, 2024 [May 1st, 2024]
- Keysight Introduces Industry-First Testing Solution for Post-Quantum Cryptography - Quantum Computing Report - May 1st, 2024 [May 1st, 2024]
- Australia bets on US startup that aims to build the first massive quantum computer - Semafor - May 1st, 2024 [May 1st, 2024]
- Australia just made a billion-dollar bet on building the world's first 'useful' quantum computer in Brisbane. Will it pay off? - The Conversation - May 1st, 2024 [May 1st, 2024]
- Japan to expand export restrictions on semiconductor and quantum computing technology - DatacenterDynamics - May 1st, 2024 [May 1st, 2024]
- Harnessing quantum information to advance computing - Nature.com - May 1st, 2024 [May 1st, 2024]
- University of Sydney Secures $18.4 Million AUD ($12 Million USD) Government Funding for National Quantum Innovation Hub - Quantum Computing Report - May 1st, 2024 [May 1st, 2024]
- HSBC and PayPal join group pioneering quantum-safe cryptography | bobsguide - Bobsguide - May 1st, 2024 [May 1st, 2024]
- Q-Day approaching: Can Ethereum survive a quantum emergency? - Cointelegraph - May 1st, 2024 [May 1st, 2024]
- Rigetti Computing Launches the Novera QPU Partner Program - HPCwire - May 1st, 2024 [May 1st, 2024]
- Is quantum computing an enabler for the decarbonisation of aviation? - Airbus - April 26th, 2024 [April 26th, 2024]
- Quantum Computing Meets Genomics: The Dawn of Hyper-Fast DNA Analysis - SciTechDaily - April 26th, 2024 [April 26th, 2024]
- Steady progress in approaching quantum advantage | McKinsey - McKinsey - April 26th, 2024 [April 26th, 2024]
- Rigetti Computing Delivers Novera QPU to Horizon Quantum Computing for Singapore-Based Hardware Testbed - GlobeNewswire - April 26th, 2024 [April 26th, 2024]
- John Martinis on Bridging Theory & Reality in Quantum Computing - The Quantum Insider - April 26th, 2024 [April 26th, 2024]
- NVIDIA is helping Japan build their bleeding-edge ABCI-Q quantum supercomputer with HPC and AI - TweakTown - April 26th, 2024 [April 26th, 2024]
- 3 Quantum Computing Stocks to Buy Now: Q2 Edition - InvestorPlace - April 26th, 2024 [April 26th, 2024]
- Compact Quantum Light Processing: Time-Bending Optical Computing Breakthrough - SciTechDaily - April 26th, 2024 [April 26th, 2024]
- Springing simulations forward with quantum computing - Phys.org - April 26th, 2024 [April 26th, 2024]
- MIT scientists tune the entanglement structure in an array of qubits - MIT News - April 26th, 2024 [April 26th, 2024]
- Chaotic Links Theory: Exploring the Intersection of Classical Cryptography and Quantum Potentiality - hackernoon.com - April 26th, 2024 [April 26th, 2024]
- Quantum Computing Stocks: An Investment in the Future - Value the Markets - April 26th, 2024 [April 26th, 2024]
- UK Tightens Controls on Quantum Computing Exports And Cryogenics Firms Could Feel The Chill - The Quantum Insider - April 26th, 2024 [April 26th, 2024]
- Pasqal and Welinq Partner to Develop Quantum Interconnects - High-Performance Computing News Analysis - insideHPC - April 26th, 2024 [April 26th, 2024]
- Quantum Computing, Inc. (QCi) Breaks Ground with Underwater LiDAR Prototype - Quantum Computing Report - April 26th, 2024 [April 26th, 2024]
- Quantum Cloud Computing Secured in New Breakthrough at Oxford - TechRepublic - April 26th, 2024 [April 26th, 2024]
- Researchers Achieve Major Advancement in Quantum Technology - AZoQuantum - April 26th, 2024 [April 26th, 2024]
- Xanadu and SC Quantum Partner to Enhance Quantum Education and Research in the Southeast U.S. - Quantum Computing Report - April 18th, 2024 [April 18th, 2024]
- 3 Steps Businesses Should Take to Prepare for Quantum Computing Disruption - TechSpective - April 18th, 2024 [April 18th, 2024]
- How Thin Film Lithium Niobate (TFLN) Will Power the Next generation of Coherent Ising Machines - Quantum Computing Report - April 18th, 2024 [April 18th, 2024]
- Quantum computing: a new frontier for the broadcast and media industry - RedShark News - April 18th, 2024 [April 18th, 2024]
- Navigating the Next Frontier: The Future of AI, Machine Learning, Quantum Computing, and Advanced - Medium - April 18th, 2024 [April 18th, 2024]
- Xanadu and South Carolina Quantum Establish Partnership to Build the Quantum Workforce of Tomorrow - HPCwire - April 18th, 2024 [April 18th, 2024]
- Quantum Computing Fair: Shaping the future world of Defence - Royal Air Force - April 18th, 2024 [April 18th, 2024]
- Researchers create 'quantum drums' to store qubits one step closer to groundbreaking internet speed and security - Tom's Hardware - April 18th, 2024 [April 18th, 2024]
- AI and Quantum Computing: High Risks or Big Boons to Fintech? - InformationWeek - April 18th, 2024 [April 18th, 2024]
- Unlocking the quantum future - MIT News - March 20th, 2024 [March 20th, 2024]
- Verifying the Work of Quantum Computers - Caltech - March 20th, 2024 [March 20th, 2024]
- Quantum Computing Could Destroy Bitcoin in 27 Years - BeInCrypto - March 20th, 2024 [March 20th, 2024]
- Surviving the quantum apocalypse with fully homomorphic encryption - Help Net Security - March 20th, 2024 [March 20th, 2024]
- NVIDIA Amplifies Quantum Computing Ecosystem with New CUDA-Q Integrations and Partnerships at GTC - HPCwire - March 20th, 2024 [March 20th, 2024]
- Quantum groups combine to drive European quantum computing sector - Optics.org - March 20th, 2024 [March 20th, 2024]
- Quantum Computing Breakthrough: Scientists Develop New Photonic Approach That Works at Room Temperature - SciTechDaily - March 20th, 2024 [March 20th, 2024]
- UMass Amherst Researchers Join $26 M Quantum Computing Effort to Build Internet of the Future - AZoQuantum - March 20th, 2024 [March 20th, 2024]
- Quantum Computing for Everyone | Events | What's On | The University of Aberdeen - University of Aberdeen - March 20th, 2024 [March 20th, 2024]
- Quantum Computing in Africa: A Journey to the 1960s Era - Tech in Africa - March 20th, 2024 [March 20th, 2024]
- Delinea Announces Industry-First Quantum-Safe Encryption to Secure Privileged Accounts in the Post-Quantum ... - PR Newswire - March 20th, 2024 [March 20th, 2024]
- Where are the Worldwide Quantum Networking Testbeds? - Quantum Computing Report - March 20th, 2024 [March 20th, 2024]
- TRUMPF to Harness HLRS's Hawk and Hunter Supercomputers for Advanced AI and Quantum Computing Simulations - HPCwire - March 20th, 2024 [March 20th, 2024]
- Designing Infrastructure to Protect Quantum Information - AZoQuantum - March 20th, 2024 [March 20th, 2024]
- UMass Amherst researchers join $26 million quantum computing effort to build internet of the future - EurekAlert - March 20th, 2024 [March 20th, 2024]
- Southampton to drive UK Quantum computing capability - Labmate Online - March 20th, 2024 [March 20th, 2024]
- NVIDIA Announces New Supercomputer Projects, a Quantum Cloud, Academic Initiatives, and PQC Acceleration at Its Annual GTC Conference - Quantum... - March 20th, 2024 [March 20th, 2024]
- Center for Quantum Networks welcomes UMASS Amherst in $26m quantum networking deal - Innovation News Network - March 20th, 2024 [March 20th, 2024]
- The 3 Most Undervalued Quantum Computing Stocks to Buy in March 2024 - InvestorPlace - March 18th, 2024 [March 18th, 2024]
- Fault Tolerant Quantum Computers Will Arrive Earlier Than We Original Thought - Quantum Computing Report - March 18th, 2024 [March 18th, 2024]
- Beyond AI: How Nvidia is helping scale quantum computing - VentureBeat - March 18th, 2024 [March 18th, 2024]
- Machine Learning, Quantum Computing Can Transform Health Care, Including Diagnosing Pneumonia - Carnegie Mellon University - March 18th, 2024 [March 18th, 2024]
- QC's Finest: The 3 Most Fundamentally Sound Quantum Computing Stocks - InvestorPlace - March 18th, 2024 [March 18th, 2024]
- Rigetti Computing, Inc. Reports Fourth Quarter and Full Year 2023 Financial Results - The Quantum Insider - March 18th, 2024 [March 18th, 2024]
- The Race to Build a Quantum Computer Is Paved With Gold - Says IDTechEx - PR Newswire - March 18th, 2024 [March 18th, 2024]
- Accelerating the Development of New Molecules - Promethium to Empower ML Models for Drug Discovery Using ... - PR Newswire - March 18th, 2024 [March 18th, 2024]
- Does Quantum Computing Inc (QUBT) Have What it Takes to be in Your Portfolio Monday? - InvestorsObserver - March 18th, 2024 [March 18th, 2024]
- European MPs sound alarm over quantum computing's encryption threat - Innovation Origins - March 18th, 2024 [March 18th, 2024]
- UMass Amherst Researchers Join $26 Million Quantum Computing Initiative to Shape the Future of the Internet - India Education Diary - March 18th, 2024 [March 18th, 2024]
- Quantum Computing and Networking Poised to Revolutionize Cryptography - BroadbandBreakfast.com - March 18th, 2024 [March 18th, 2024]
- Growing concenrs about quantum computers' ability to break commonly used encryption - NL Times - March 18th, 2024 [March 18th, 2024]
- Navigating the Future with Nokia Bell Labs: Pioneering Innovations in 6G, Quantum Computing, and Lunar Communications - Telecom Reseller - March 18th, 2024 [March 18th, 2024]
- Never-Repeating Patterns of Tiles Can Safeguard Quantum Information - WIRED - March 18th, 2024 [March 18th, 2024]
- Japanese joint research group win Prime Minister's Award with ultra high-performance computing platform using jointly ... - Fujitsu - March 18th, 2024 [March 18th, 2024]
- Rigetti Computing Reports Fourth Quarter and Full Year 2023 Results - GlobeNewswire - March 18th, 2024 [March 18th, 2024]
- Already Up 104% YTD, Wall Street Predicts This Quantum Computing Stock Will Surge Another 58% - Barchart - March 18th, 2024 [March 18th, 2024]
- IBM agreement boosts USC's quantum computing leadership - University of Southern California - March 13th, 2024 [March 13th, 2024]
- QMware Announces Collaboration With NVIDIA And Oracle to Advance Hybrid Quantum Computing for Enterprises - The Quantum Insider - March 13th, 2024 [March 13th, 2024]
- QMware Announces Collaboration with NVIDIA and Oracle to Advance Hybrid Quantum Computing for Enterprises - HPCwire - March 13th, 2024 [March 13th, 2024]
- What Are The Opportunities Presented by Quantum Computing? - USC Viterbi | School of Engineering - USC Viterbi School of Engineering - March 13th, 2024 [March 13th, 2024]
- Eviden explores energy advantages in near-term quantum computing systems through research partnerships - GlobeNewswire - March 13th, 2024 [March 13th, 2024]
- Does Quantum Computing (NASDAQ:QUBT) Have A Healthy Balance Sheet? - Simply Wall St - March 13th, 2024 [March 13th, 2024]
- Quantum computing isnt magicbut could be the next big thing, say executives at the Montgomery Summit - Fortune - March 13th, 2024 [March 13th, 2024]
- QMware Collaborates with NVIDIA and Oracle to Advance Hybrid Quantum Computing for Enterprises - Quantum Computing Report - March 13th, 2024 [March 13th, 2024]
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