A conceptual image of a processor representing quantum computing.  IONQ title

3 millionaire Quantum Computing shares to buy before the window closes

Quantum computing could change almost everything. Not only can it solve complex calculations at high speed, but it could help speed drug development, improve financial models and increase the power of electric vehicle batteries. It may even be able to help with climate change issues. And it could just produce a batch of millionaire quantum computer stocks, just like we’ve seen with artificial intelligence.

Even better, IDC extension says the quantum computing market could grow to $8.6 billion in 2027 from about $412 million in 2020, with a CAGR of more than 50%. As the company points to major industry breakthroughs, the maturation of quantum computing as a service and the growth of computing workloads could drive a significant chunk of the quantum computing market. We also need to consider that many potentially million-dollar quantum computer stocks are already in motion.

That said, here are three top stocks that could prove to be your next millionaire quantum computing stocks in the making.

IonQ (IONQ extension)

A conceptual image of a processor representing quantum computing.  IONQ title

Source: Amin Van/Shutterstock.com

The first time I mentioned ionQ (NYSE:IONQ extension) in March, it traded at $4.56. It is up to $14.40 today and could easily see higher highs. Helping its ascent, the company just raised its 2023 booking estimates by 25% to a new range of $45 million to $55 million. At the midpoint, the company expects more than 100% year-over-year booking growth. This follows news of IONQ’s agreement to install two quantum systems in Europe.

At the moment, the company is working with Switzerland, which currently lags behind most other European countries with quantum computing. However, that could change as IonQ and QuantumBasel collaborate to create a European quantum data center.

Even more exciting, the partnership could improve the drug discovery process, potentially leading to treatments for diseases once thought to be incurable. With quantum computers, drug developers can build predictive models, which can identify which molecules could make effective drug candidates. This alone could be a huge game changer for medicine.

Computing discards (RGTI)

Source: Bartlomiej K. Wroblewski / Shutterstock.com

There is also Informatics Rejections (NASDAQ:RGTI), a small but explosive stock of quantum computing. Over the past few weeks, RGTI has fallen about 36 cents to a high of $2.37, before falling to support at $1.72. From here, I would like to see it eventually fill its bearish gap around $4.15. While it will take some patience, it is doable with the story of quantum computing gaining momentum.

The earnings weren’t too poor either. In the first quarter, the company’s GAAP EPS reported a loss of 19 cents, beating expectations by two cents. Revenues increased nearly 5% to $2.2 million, topping estimates of $1.88 million.

Defiance Quantum ETF (QTUM)

a computer chip

Source: Shutterstock

Or, if you just want to diversify with all the heavyweights of quantum computing, you can invest in Defiance Quantum ETF (NYSEARCA:QTUM). With an expense ratio of 0.40%, the ETF tracks the BlueStar Quantum Computing and Machine Learning Index, which tracks about 71 related stocks. Some of its major holdings include IonQ, Rigetti Computing, Nvidia (NASDAQ:NVDA extension), AND NXP semiconductors (NASDAQ:nxpi extension) to name a few major quantum computer titles.

Since May, the ETF has moved from about $43 to a recent high of $51.19. However, as more investors realize this opportunity and as it helps move things forward, like drug development, I strongly believe QTUM could double from current prices.

As of the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. Opinions expressed in this article are those of the writer, subject to InvestorPlace.com posting guidelines.

InvestorPlace.com contributor Ian Cooper has been analyzing stocks and options for web-based advice since 1999.

#millionaire #Quantum #Computing #shares #buy #window #closes
Image Source : investorplace.com

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *