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Quantum computing stocks are gaining traction among investors. This trend has sparked a surge in quantum computing stocks to buy.

The shift from traditional to quantum computing is not just imminent, its already underway. This article aims to highlight the growth potential of quantum-based stocks. Well dissect market trends and key drivers that make these stocks a promising investment.

To uncover these opportunities, I used various methods. I asked ChatGPT to narrow down the list, and then used a machine learning Google Sheets extension to extrapolate the predictions.

So, are you ready to profit from quantum innovation? Join us on this journey into the quantum realm. Well guide you on how to maximize returns and minimize risks. Lets dive in.

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IBM (NYSE:IBM) has made notable progress in quantum computing and their advancements include accessibility through the cloud. They are continually striving to enhance this technology. Its part of a larger cloud and cognitive software division that has been instrumental to the companys growth.

IBM scientists claim a major leap in quantum computing. Theyve developed a strategy to handle quantum noise, a major hurdle in the field. This approach introduces more noise and tracks its effects, potentially making quantum computers as usable as their traditional counterparts.

Theres more to love with IBM. For instance, the companys dividend yield stands at an impressive 5.06%. The dividend is safe. IBM stocks cash flow supports it well. Analysts also predict that IBMs share will rise to $140.70 in the next year. These factors mean it could be undervalued.

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Microsoft (NASDAQ:MSFT) is another one of those quantum computing stocks to buy. The AI recommended the company due its development of topological qubits (the basic unit of quantum information). To simplify matters greatly, MSFT stock could be building a superior quantum system if it can handle these qubits. Work is still in research and development, but there have been some promising developments.

Microsoft Quantum researchers have reportedly reached a key milestone in developing a practical quantum computer. Theyve created a new way to represent a logical qubit that is stable and scalable, which is crucial for building a large-scale quantum computer. Theyve achieved this by inducing a phase of matter characterized by Majorana zero modes, a type of particle. This technology has passed important tests, showing it as a viable approach.

Now might be a good time to hop on board MSFT stock for other reasons too. Its share has rallied since the start of the year, growing 38.22% year to date. Furthermore, analysts rate the stock as a buy, and it has a $343.51 price target.

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Alphabet (NASDAQ:GOOGL) was the AIs final recommendation. Googles quantum computer accomplished quantum supremacy in 2019 through the execution of a task that a classical computer would find extremely difficult to complete. This achievement marks an important milestone in the progress of quantum computing.

Googles Quantum AI team has made a significant breakthrough in quantum computing by reducing errors and increasing the number of physical quantum bits (qubits) in a logical qubit, which is crucial for building large-scale quantum computers. They achieved this by using a specific error-correcting code called a surface code. This progress is a key step in Googles plan to build an error-corrected quantum computer.

The GOOGL share was sold off earlier this year amid the rise of ChatGPT. In my view, this represents a buying opportunity for eager investors. Analyst rate it a buy, and it currently has a price target of $132.03.

On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.

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Quantum Computing Stocks to Buy - InvestorPlace