Millionaire-maker quantum computing stocks are inherently risky but offer massive payoff
Source: Boykov / Shutterstock.com
Quantum computing is the next evolution of computing. Its benefit is that, at its core, it is capable of solving problems that classical computers cannot. Classical computers often rely on brute force to find solutions to complex problems. However, like all things, there is a barrier. These millionaire-maker quantum computing stocks will push computing past its current limits.
Faster computing times have vast applications. Just about everything today relies on computers and, as the field develops, investment is sure to rise. That makes the quantum computing stocks below incredibly interesting. Compound annual growth rates in the sector are expected to reach above 38% between 2023 and 2028. Thus, an investment today could yield substantial returns for millionaire-maker quantum computing stocks.
Source: Amin Van / Shutterstock.com
IonQ (NYSE:IONQ) has developed the IonQ Forte quantum computer, while emerging as one of the sectors top stocks.
Its shares have really blossomed in 2023, providing investors with strong returns but not returns without volatility. The companys shares were below $4 at the beginning of the year, but shot up to almost $20 in August. It currently resides at around $12. So, it was both rewarded and punished in 2023.
The companys Forte quantum computers are currently available through the three leading Cloud providers; Amazons (NASDAQ:AMZN) AWS, Microsofts (NASDAQ:MSFT) Azure and Alphabets (NASDAQ:GOOG, NASDAQ:GOOGL) Google Cloud.
Company revenues grew by 122% in the third quarter, reaching $6.1 million. While that was above the high end of guidance, Its 22 cent EPS was 7 cents lower than expected. Yet, the company increased its guidance for the full year to a high of $22 million from a previous high of $19.3 million.
Source: Shutterstock
FormFactor (NASDAQ:FORM) is an interesting, diversified way to play the emergence of quantum computing stocks. The company is not primarily engaged in the business of quantum computing. Instead, FormFactor is a semiconductor company.
The company sells probe cards which are used for chip testing. Semiconductor testing and measurement is a growing, high-margin business worthy of investment.
However, FormFactor also recently released a quantum computing chip which has thrust it into the conversation relating to quantum computing. Clearly, FormFactor is a more diverse and potentially lower-risk option in millionaire-maker quantum computing stocks.
Financially, the stock is somewhat of a mixed bag: Earnings were roughly 17% better than expected but revenues were roughly 4% lower than anticipated. The company shares are also relatively well established and trade for just over $37. Thus, they dont have the same runaway growth potential as IonQs, for example. Nevertheless, they do have the potential to provide substantial returns in the future.
Source: Shutterstock
Quantum Computing (NASDAQ:QUBT) is, in my opinion, the stock with the most potential to create millionaires. The company is very small and produced a mere $50,000 in revenues in the third quarter.
That revenue is largely attributable to the provision of professional services to both public and commercial firms. Although the companys revenues continue to be small, there is a positive to take from its most recent earnings report: Revenues increased by 111% during the first nine months of 2023, reaching $283,000.
Quantum Computing has released five products over the previous 17 months, completed its first hardware sale and begun to build out of its quantum chip facility. Although its revenues remain modest, the company is resolute that at some point its continued ability to progress will lead to large contracts.
The company has developed a particularly strong relationship with NASA, securing its third subcontract award from the agency in July. Its clear that the government will continue to fund the development of the field. If Quantum Computing can provide results, the skys the limit.
On the date of publication, Alex Sirois did 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.com Publishing Guidelines.
Continued here:
3 Quantum Computing Stocks to Make You the Millionaire Next Door: 2024 Edition - InvestorPlace
- Two Quantum Computers Face-Off for the First Time in History! - Interesting Engineering [Last Updated On: February 26th, 2017] [Originally Added On: February 26th, 2017]
- Split decision in first-ever quantum computer faceoff | Science | AAAS - Science Magazine [Last Updated On: February 26th, 2017] [Originally Added On: February 26th, 2017]
- How to defend against quantum computing attacks - ScienceBlog.com - ScienceBlog.com (blog) [Last Updated On: February 28th, 2017] [Originally Added On: February 28th, 2017]
- Researchers Have Directly Tested Two Quantum Computing ... - Futurism [Last Updated On: February 28th, 2017] [Originally Added On: February 28th, 2017]
- Scientists reveal new super-fast form of computer that 'grows as it ... - Phys.Org [Last Updated On: March 2nd, 2017] [Originally Added On: March 2nd, 2017]
- Andreas Antonopoulos: Bitcoin's Design Can Withstand Quantum Computer Attack - CryptoCoinsNews [Last Updated On: March 2nd, 2017] [Originally Added On: March 2nd, 2017]
- IBM QISKit Aims to Enable Cloud-basaed Quantum Computation - InfoQ.com [Last Updated On: March 11th, 2017] [Originally Added On: March 11th, 2017]
- Legacy of brilliant young scientist is a major leap in quantum ... - Phys.Org [Last Updated On: March 11th, 2017] [Originally Added On: March 11th, 2017]
- IBM Q is the first initiative to build commercial quantum computing systems - BetaNews [Last Updated On: March 11th, 2017] [Originally Added On: March 11th, 2017]
- IBM To Commercialize Quantum Computing - ADT Magazine [Last Updated On: March 11th, 2017] [Originally Added On: March 11th, 2017]
- Quantum computer learns to 'see' trees - Science Magazine [Last Updated On: March 11th, 2017] [Originally Added On: March 11th, 2017]
- David Deutsch and His Dream Machine - The New Yorker [Last Updated On: March 11th, 2017] [Originally Added On: March 11th, 2017]
- Quantum computers are here -- but what are they good for? - PCWorld [Last Updated On: March 18th, 2017] [Originally Added On: March 18th, 2017]
- IBM's first commercial quantum computer could shake-up chemistry ... - Chemistry World (subscription) [Last Updated On: March 18th, 2017] [Originally Added On: March 18th, 2017]
- Quantum computing takes a massive step forward thanks to ... - TechRadar [Last Updated On: March 18th, 2017] [Originally Added On: March 18th, 2017]
- Better than Quantum Computing: The EU Launches a Biocomputer ... - Labiotech.eu (blog) [Last Updated On: March 21st, 2017] [Originally Added On: March 21st, 2017]
- In a few years new Quantum computers from IBM, Google and Microsoft will accelerate breakthroughs in chemistry and ... - Next Big Future [Last Updated On: March 21st, 2017] [Originally Added On: March 21st, 2017]
- Research project successful: Volkswagen IT experts use quantum ... - Automotive World (press release) [Last Updated On: March 21st, 2017] [Originally Added On: March 21st, 2017]
- Rechargeable 'spin battery' promising for spintronics and quantum ... - Phys.Org [Last Updated On: April 22nd, 2017] [Originally Added On: April 22nd, 2017]
- The First Quantum Computer You Own Could Be Powered by a Time Crystal - Futurism [Last Updated On: April 22nd, 2017] [Originally Added On: April 22nd, 2017]
- Microsoft to double headcount of Sydney quantum computing lab ... - Computerworld Australia [Last Updated On: April 22nd, 2017] [Originally Added On: April 22nd, 2017]
- Could Time Crystals Hold The Key To Building The First Quantum Computer? - Wall Street Pit [Last Updated On: April 22nd, 2017] [Originally Added On: April 22nd, 2017]
- Microsoft boosts Aussie quantum computing team - ARN - ARNnet [Last Updated On: April 26th, 2017] [Originally Added On: April 26th, 2017]
- Will Google Be The First To Achieve Quantum Computing Supremacy? - Wall Street Pit [Last Updated On: April 26th, 2017] [Originally Added On: April 26th, 2017]
- Computing on the boundary between conventional and quantum - Electronics Weekly [Last Updated On: April 29th, 2017] [Originally Added On: April 29th, 2017]
- Quantum cryptography - Wikipedia [Last Updated On: April 29th, 2017] [Originally Added On: April 29th, 2017]
- Beyond classical computing without fault-tolerance: Looking for the ... - Phys.Org [Last Updated On: April 30th, 2017] [Originally Added On: April 30th, 2017]
- Quantum Computing | D-Wave Systems [Last Updated On: April 30th, 2017] [Originally Added On: April 30th, 2017]
- quantum computer - WIRED [Last Updated On: April 30th, 2017] [Originally Added On: April 30th, 2017]
- World's First Quantum Computer Is Here - Wall Street Pit - Wall Street Pit [Last Updated On: May 7th, 2017] [Originally Added On: May 7th, 2017]
- China adds a quantum computer to high-performance computing arsenal - PCWorld [Last Updated On: May 7th, 2017] [Originally Added On: May 7th, 2017]
- The Quantum Computer Revolution Is Closer Than You May Think - National Review [Last Updated On: May 7th, 2017] [Originally Added On: May 7th, 2017]
- China builds five qubit quantum computer sampling and will scale to 20 qubits by end of this year and could any beat ... - Next Big Future [Last Updated On: May 7th, 2017] [Originally Added On: May 7th, 2017]
- Researchers seek to advance quantum computing - The Stanford Daily [Last Updated On: May 14th, 2017] [Originally Added On: May 14th, 2017]
- New Materials Could Make Quantum Computers More Practical - Tom's Hardware [Last Updated On: May 14th, 2017] [Originally Added On: May 14th, 2017]
- Nanofridge could keep quantum computers cool enough to calculate - New Scientist [Last Updated On: May 14th, 2017] [Originally Added On: May 14th, 2017]
- Home News Computer Europe Takes Quantum Computing to the Next Level With this Billion Euro... - TrendinTech [Last Updated On: May 14th, 2017] [Originally Added On: May 14th, 2017]
- Quantum Computing Demands a Whole New Kind of Programmer - Singularity Hub [Last Updated On: May 14th, 2017] [Originally Added On: May 14th, 2017]
- Refrigerator for quantum computers discovered - Science Daily [Last Updated On: May 14th, 2017] [Originally Added On: May 14th, 2017]
- Scientists Invent Nanoscale Refrigerator For Quantum Computers - Wall Street Pit [Last Updated On: May 14th, 2017] [Originally Added On: May 14th, 2017]
- IBM builds two new Quantum Computing processors - Enterprise Times [Last Updated On: May 18th, 2017] [Originally Added On: May 18th, 2017]
- Quantum Computers Sound Great, But Who's Going to Program Them? - TrendinTech [Last Updated On: May 18th, 2017] [Originally Added On: May 18th, 2017]
- IBM makes a leap in quantum computing power - PCWorld [Last Updated On: May 18th, 2017] [Originally Added On: May 18th, 2017]
- IBM's Newest Quantum Computing Processors Have Triple the Qubits of Their Last - Futurism [Last Updated On: May 19th, 2017] [Originally Added On: May 19th, 2017]
- IBM scientists demonstrate ballistic nanowire connections, a potential future key component for quantum computing - Phys.Org [Last Updated On: May 19th, 2017] [Originally Added On: May 19th, 2017]
- The route to high-speed quantum computing is paved with error | Ars ... - Ars Technica UK [Last Updated On: May 20th, 2017] [Originally Added On: May 20th, 2017]
- Researchers push forward quantum computing research - The ... - Economic Times [Last Updated On: May 22nd, 2017] [Originally Added On: May 22nd, 2017]
- US playing catch-up in quantum computing - The Register-Guard [Last Updated On: May 22nd, 2017] [Originally Added On: May 22nd, 2017]
- IBM Q Offers Quantum Computing as a Service The Merkle - The Merkle [Last Updated On: May 25th, 2017] [Originally Added On: May 25th, 2017]
- Graphene Just Brought Us One Step Closer to Practical Quantum Computers - Futurism [Last Updated On: May 25th, 2017] [Originally Added On: May 25th, 2017]
- How quantum computing increases cybersecurity risks | Network ... - Network World [Last Updated On: May 25th, 2017] [Originally Added On: May 25th, 2017]
- Is the US falling behind in the race for quantum computing? - AroundtheO [Last Updated On: May 25th, 2017] [Originally Added On: May 25th, 2017]
- Artificial intelligence and quantum computing aid cyber crime fight - Financial Times [Last Updated On: May 25th, 2017] [Originally Added On: May 25th, 2017]
- Google Plans to Demonstrate the Supremacy of Quantum ... - IEEE Spectrum [Last Updated On: May 25th, 2017] [Originally Added On: May 25th, 2017]
- Top 5: Things to know about quantum computers - TechRepublic [Last Updated On: May 25th, 2017] [Originally Added On: May 25th, 2017]
- AI and Quantum Computers Are Our Best Weapons Against Cyber Criminals - Futurism [Last Updated On: June 1st, 2017] [Originally Added On: June 1st, 2017]
- Scientists claim to have invented the world's first quantum-proof ... - ScienceAlert [Last Updated On: June 1st, 2017] [Originally Added On: June 1st, 2017]
- Microsoft, Purdue Tackle Topological Quantum Computer - HPCwire - HPCwire (blog) [Last Updated On: June 1st, 2017] [Originally Added On: June 1st, 2017]
- MIT Just Unveiled A Technique to Mass Produce Quantum Computers - Futurism [Last Updated On: June 1st, 2017] [Originally Added On: June 1st, 2017]
- Here's How We Can Achieve Mass-Produced Quantum Computers - ScienceAlert [Last Updated On: June 1st, 2017] [Originally Added On: June 1st, 2017]
- Research collaborative pursues advanced quantum computing - Phys.Org [Last Updated On: June 1st, 2017] [Originally Added On: June 1st, 2017]
- Telstra just wants a quantum computer to offer as-a-service - ZDNet [Last Updated On: June 1st, 2017] [Originally Added On: June 1st, 2017]
- D-Wave partners with U of T to move quantum computing along - Financial Post [Last Updated On: June 2nd, 2017] [Originally Added On: June 2nd, 2017]
- Doped Diamonds Push Practical Quantum Computing Closer to Reality - Motherboard [Last Updated On: June 3rd, 2017] [Originally Added On: June 3rd, 2017]
- Team develops first blockchain that can't be hacked by quantum computer - Siliconrepublic.com [Last Updated On: June 3rd, 2017] [Originally Added On: June 3rd, 2017]
- Are Enterprises Ready to Take a Quantum Leap? - IT Business Edge [Last Updated On: June 13th, 2017] [Originally Added On: June 13th, 2017]
- Scientists May Have Found a Way to Combat Quantum Computer Blockchain Hacking - Futurism [Last Updated On: June 13th, 2017] [Originally Added On: June 13th, 2017]
- Microsoft and Purdue work on scalable topological quantum computer - Next Big Future [Last Updated On: June 13th, 2017] [Originally Added On: June 13th, 2017]
- From the Abacus to Supercomputers to Quantum Computers - Duke Today [Last Updated On: June 13th, 2017] [Originally Added On: June 13th, 2017]
- Quantum Computers Will Analyze Every Financial Model at Once - Singularity Hub [Last Updated On: June 13th, 2017] [Originally Added On: June 13th, 2017]
- Quantum Computing Technologies markets will reach $10.7 billion by 2024 - PR Newswire (press release) [Last Updated On: June 14th, 2017] [Originally Added On: June 14th, 2017]
- KPN CISO details Quantum computing attack dangers - Mobile World Live [Last Updated On: June 16th, 2017] [Originally Added On: June 16th, 2017]
- Get ahead in quantum computing AND attract Goldman Sachs - eFinancialCareers [Last Updated On: June 16th, 2017] [Originally Added On: June 16th, 2017]
- Toward optical quantum computing - MIT News [Last Updated On: June 17th, 2017] [Originally Added On: June 17th, 2017]
- Quantum Machine Learning Computer Hybrids at the Center of New Start-Ups - TrendinTech [Last Updated On: June 20th, 2017] [Originally Added On: June 20th, 2017]
- Israel Enters Quantum Computer Race, Placing Encryption at Ever-Greater Risk - Sputnik International [Last Updated On: June 20th, 2017] [Originally Added On: June 20th, 2017]
- Prototype device enables photon-photon interactions at room ... - Phys.Org [Last Updated On: June 20th, 2017] [Originally Added On: June 20th, 2017]
- The Quantum Computer Factory That's Taking on Google and IBM - WIRED [Last Updated On: June 20th, 2017] [Originally Added On: June 20th, 2017]
- 6 Things Quantum Computers Will Be Incredibly Useful For - Singularity Hub [Last Updated On: July 1st, 2017] [Originally Added On: July 1st, 2017]
- Volkswagen buys D-Wave quantum computers which sell for $15 million each - Robotics and Automation News (press release) (registration) [Last Updated On: July 2nd, 2017] [Originally Added On: July 2nd, 2017]