The field of quantum computing is rapidly evolving, and investing in quantum computing stocks could lead to substantial returns. With compound annual growth rates projected to exceed 38% between 2023 and 2028, the potential for millionaire-making gains is significant. Here are three quantum computing stocks that show promise in this emerging sector.
IonQ (IONQ)
IonQ is a top stock in the quantum computing industry, thanks to its development of the IonQ Forte quantum computer. Despite experiencing some volatility, IonQ’s shares have seen significant growth, rising from below $4 at the beginning of the year to nearly $20 in August. Currently trading around $12, the company’s stock has rewarded investors while also facing some setbacks.
IonQ’s Forte quantum computers are available through leading Cloud providers like Amazon’s AWS, Microsoft’s Azure, and Alphabet’s Google Cloud. The company reported a 122% increase in revenues in the third quarter, reaching $6.1 million. Although the earnings per share (EPS) fell below expectations, IonQ revised its guidance for the full year, projecting a high of $22 million.
FormFactor (FORM)
While not primarily focused on quantum computing, FormFactor presents an interesting investment opportunity in this sector. As a semiconductor company, FormFactor sells probe cards used for chip testing—a growing and high-margin business. However, the company recently introduced a quantum computing chip, positioning itself as a diversified and potentially lower-risk option among quantum computing stocks.
Financially, FormFactor’s performance is mixed. Earnings exceeded expectations by approximately 17%, but revenues were about 4% lower than anticipated. Traded at just over $37, the stock may not have the same explosive growth potential as some others in the market. Nonetheless, it still holds the potential to generate substantial returns in the future.
Quantum Computing (QUBT)
Quantum Computing is a small company primed for significant growth, making it a stock with the potential to create millionaires. Despite generating only $50,000 in revenues in the third quarter, the company has experienced a 111% increase in revenue during the first nine months of 2023, reaching $283,000.
While the company’s revenues remain modest for now, Quantum Computing has built a strong relationship with NASA, securing its third subcontract award from the agency. As government funding for the field continues, the company’s ability to deliver results could pave the way for lucrative contracts and substantial growth.
Investing in quantum computing stocks offers an opportunity to be part of the next evolution of computing. As the quantum computing industry expands, these three stocks demonstrate high growth potential, providing investors with the chance to capitalize on this emerging technological frontier.
The source of the article is from the blog mendozaextremo.com.ar