Technology firms, both public and private, have been working hard to develop quantum computing technologies for decades. The reasons for that are straightforward. Quantum machines, which harness the quantum mechanics undergirding subatomic particles, have a number of advantages over classical computers. Portfolio optimization and climate predictive algorithms that improve with more complexity are better handled by quantum computers.
U.S. equities markets have surged with the rise of generative artificial intelligence (AI) and its potential to create enormous efficiencies and profits for firms across various industries. While AI has brought quantum computing back into the spotlight, a lack of practical ways to scale these complex products has severely dented the performance of pure-play quantum computing stocks, such as IonQ (NYSE:IONQ) and Rigetti Computing (NASDAQ:RGTI).
Fortunately, not every public company invested in quantum computing has seen doom and gloom. Below are the three best quantum computing stocks investors should buy in June.
Source: shutterstock.com/LCV
International Business Machines (NYSE:IBM) is a legacy American technology business. It has its hands in everything from cloud infrastructure, artificial intelligence, and technology consulting services to quantum computers.
The firm committed to developing quantum computing technologies in the early 2000s and tends to publish new findings in the burgeoning field frequently. In December 2023, IBM released a new quantum chip system, Quantum System Two, that leverages the firms Heron processor, which has 133 qubits. Qubits are analogous to bytes on a classical computer. But instead of being confined to states of 0s and 1s, qubits, by way of superposition, can assume both states at the same time.
Moreover, what makes Quantum System Two particularly innovative is its use of both quantum and classical computing technologies. In a press release, IBM states, It combines scalable cryogenic infrastructure and classical runtime servers with modular qubit control electronics. IBM believes the combination of quantum computation and communication with classical computing resources can create a scalable quantum machine.
IBMs innovations in quantum computing technologies as well as AI has not gone unnoticed either. Shares have risen 31.3% over the past 12 months. The computing giants relatively cheap valuation coupled with its exposure to novel, high-growth fields could boost the value of its shares in the long-term.
Source: sdx15 / Shutterstock.com
Investors have given Nvidia (NASDAQ:NVDA) attention and praise over the past 12 months due to its critical role in AI computing technologies. The chipmakers advanced GPUs, including the H100 and H200 processors, are some of the most coveted chips on the market. The new Blackwell chips, coming to the market in the second half of 2024, bring to the table even better performance.
Though Nvidias prowess in the world of AI captures much of the headlines, the firm has already made inroads into the next stage of computing. In 2023, Nvidia announced a new quantum system in conjunction with startup Quantum Machines. It leverages what Nvidia calls the Grace Hoper Super Chip (GH200) as well as the chipmaker advanced CUDA Quantum (CUDA-Q) developer software.
In 2024, Nvidia released its Quantum Cloud platform, which allows users to build and test quantum computing algorithms in the cloud. The chipmakers GPUs and its open-source CUDA platform will likely be essential to scaling up the quantum computing space.
Nvidias share price has surged 214.2% over the past 12 months.
Source: Bartlomiej K. Wroblewski / Shutterstock.com
Quantum computers are complex machines that require all kinds of components. Furthermore, it is vital for quantum systems to operate at extremely low temperatures in order to operate efficiently.
FormFactor (NASDAQ:FORM) specializes in developing cryogenic systems or systems that are meant to deal with low temperatures. Everything from wafer testing probes to low-vibration probe stations as well as sophisticated refrigerators call cryostats, FormFactor provides. Also, the firms analytical probe tools are useful for developing advanced chips, such as NAND flash memory.
With quantum computing systems and advanced memory chips in greater demand these days, FormFactor could see revenues and earnings rise in the near and medium terms. FormFactors share price has surged 77.5% over the past 12 months, underscoring that investors are taking notice of the companys long-term value.
At the beginning of May, FormFactor released first quarter results for fiscal year 2024 and topped revenue estimates while EPS came in line with market expectations. The firm expects strong demand for advanced memory chips, such as DRAM, will help propel revenue growth in the following quarters.
On the date of publication, Tyrik Torresdid 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.comPublishing Guidelines.
Tyrik Torres has been studying and participating in financial markets since he was in college, and he has particular passion for helping people understand complex systems. His areas of expertise are semiconductor and enterprise software equities. He has work experience in both investing (public and private markets) and investment banking.
Read the original post:
The 3 Best Quantum Computing Stocks to Buy in June 2024 - InvestorPlace
- Mathematician breaks down how to defend against quantum ... - Phys.Org [Last Updated On: February 28th, 2017] [Originally Added On: February 28th, 2017]
- Here Is Everything You Need to Know About Quantum Computers - Interesting Engineering [Last Updated On: March 18th, 2017] [Originally Added On: March 18th, 2017]
- Quantum Computing Market Forecast 2017-2022 | Market ... [Last Updated On: March 18th, 2017] [Originally Added On: March 18th, 2017]
- What is Quantum Computing? Webopedia Definition [Last Updated On: March 18th, 2017] [Originally Added On: March 18th, 2017]
- Quantum computing is about to disrupt the government contracts market - Bloomberg Government (blog) [Last Updated On: April 22nd, 2017] [Originally Added On: April 22nd, 2017]
- Scientists: We Have Detected the Existence of a Fundamentally New State of Matter - Futurism [Last Updated On: April 22nd, 2017] [Originally Added On: April 22nd, 2017]
- What Sorts Of Problems Are Quantum Computers Good For? - Forbes [Last Updated On: April 22nd, 2017] [Originally Added On: April 22nd, 2017]
- quantum computing - WIRED UK [Last Updated On: April 22nd, 2017] [Originally Added On: April 22nd, 2017]
- Inside Microsoft's 'soup to nuts' quantum computing ramp-up - Computerworld Australia [Last Updated On: April 29th, 2017] [Originally Added On: April 29th, 2017]
- Molecular magnets closer to application in quantum computing - Next Big Future [Last Updated On: May 15th, 2017] [Originally Added On: May 15th, 2017]
- The Bizarre Quantum Test That Could Keep Your Data Secure - WIRED [Last Updated On: May 18th, 2017] [Originally Added On: May 18th, 2017]
- IBM boosts power of quantum computing processors as it lays ... - www.computing.co.uk [Last Updated On: May 22nd, 2017] [Originally Added On: May 22nd, 2017]
- IBM makes leap in quantum computing power - ITworld [Last Updated On: May 22nd, 2017] [Originally Added On: May 22nd, 2017]
- Toward mass-producible quantum computers | MIT News - MIT News [Last Updated On: June 2nd, 2017] [Originally Added On: June 2nd, 2017]
- Purdue, Microsoft Partner On Quantum Computing Research | WBAA - WBAA [Last Updated On: June 2nd, 2017] [Originally Added On: June 2nd, 2017]
- Tektronix AWG Pulls Test into Era of Quantum Computing - Electronic Design [Last Updated On: June 2nd, 2017] [Originally Added On: June 2nd, 2017]
- Google to Achieve "Supremacy" in Quantum Computing by the End of 2017 - Big Think [Last Updated On: July 1st, 2017] [Originally Added On: July 1st, 2017]
- Quantum Computing Becomes More Accessible - Scientific American [Last Updated On: July 1st, 2017] [Originally Added On: July 1st, 2017]
- Qudits: The Real Future of Quantum Computing? - IEEE Spectrum - IEEE Spectrum [Last Updated On: July 1st, 2017] [Originally Added On: July 1st, 2017]
- Alkermes and IBM's quantum computing. Who'll be the big winner? Malcolm Berko - Durham Herald Sun [Last Updated On: July 6th, 2017] [Originally Added On: July 6th, 2017]
- Quantum Computers Made Even More Powerful with New microchip generating 'Qudits' - TrendinTech [Last Updated On: July 8th, 2017] [Originally Added On: July 8th, 2017]
- Quantum Computing Record Broken - Wall Street Pit [Last Updated On: July 8th, 2017] [Originally Added On: July 8th, 2017]
- Technique for measuring and controlling electron state is a ... - UCLA Newsroom [Last Updated On: July 9th, 2017] [Originally Added On: July 9th, 2017]
- Quantum cheques could be a forgery-free way to move money - New Scientist [Last Updated On: July 10th, 2017] [Originally Added On: July 10th, 2017]
- Quantum-computer node uses two different ion species - physicsworld.com [Last Updated On: July 10th, 2017] [Originally Added On: July 10th, 2017]
- Quantum Computers vs Bitcoin How Worried Should We Be? - The Merkle [Last Updated On: July 10th, 2017] [Originally Added On: July 10th, 2017]
- Why you might trust a quantum computer with secretseven over ... - Phys.Org [Last Updated On: July 12th, 2017] [Originally Added On: July 12th, 2017]
- Physicists Take Big Step Towards Quantum Computing and ... - Universe Today [Last Updated On: August 1st, 2017] [Originally Added On: August 1st, 2017]
- Quantum Computing Market Worth 495.3 Million USD by 2023 | 08 ... - Markets Insider [Last Updated On: August 10th, 2017] [Originally Added On: August 10th, 2017]
- China uses a quantum satellite to transmit potentially unhackable data - CNBC [Last Updated On: August 10th, 2017] [Originally Added On: August 10th, 2017]
- Blind quantum computing for everyone - Phys.org - Phys.Org [Last Updated On: August 12th, 2017] [Originally Added On: August 12th, 2017]
- Quantum Computing Is Real, and D-Wave Just Open ... - WIRED [Last Updated On: August 12th, 2017] [Originally Added On: August 12th, 2017]
- Machine learning tackles quantum error correction - Phys.Org [Last Updated On: August 15th, 2017] [Originally Added On: August 15th, 2017]
- Quantum Internet Is 13 Years Away. Wait, What's Quantum Internet? - WIRED [Last Updated On: August 15th, 2017] [Originally Added On: August 15th, 2017]
- Physicists Have Made Exotic Quantum States From Light - Futurism [Last Updated On: August 16th, 2017] [Originally Added On: August 16th, 2017]
- $495.3 Million Quantum Computing Market 2017 by Revenue Source, Application, Industry, and Geography - Global ... - PR Newswire (press release) [Last Updated On: August 18th, 2017] [Originally Added On: August 18th, 2017]
- How quantum mechanics can change computing - The Conversation US [Last Updated On: August 23rd, 2017] [Originally Added On: August 23rd, 2017]
- Introducing Australia's first quantum computing hardware company - Computerworld Australia [Last Updated On: August 23rd, 2017] [Originally Added On: August 23rd, 2017]
- IEEE Approves Standards Project for Quantum Computing ... - insideHPC [Last Updated On: August 23rd, 2017] [Originally Added On: August 23rd, 2017]
- Commonwealth Bank investing in Australia's first quantum computer company - Which-50 (blog) [Last Updated On: August 25th, 2017] [Originally Added On: August 25th, 2017]
- How quantum mechanics can change computing - San Francisco ... - San Francisco Chronicle [Last Updated On: August 25th, 2017] [Originally Added On: August 25th, 2017]
- Quantum Computing Is Coming at Us Fast, So Here's Everything You Need to Know - ScienceAlert [Last Updated On: August 27th, 2017] [Originally Added On: August 27th, 2017]
- Quantum computing event explores the implications for business - Cambridge Network [Last Updated On: August 30th, 2017] [Originally Added On: August 30th, 2017]
- Microsoft's Aussie quantum computing lab set to scale up next-gen ... - ARNnet [Last Updated On: September 7th, 2017] [Originally Added On: September 7th, 2017]
- An Entirely New Type of Quantum Computing Has Just Been Invented - Futurism [Last Updated On: September 7th, 2017] [Originally Added On: September 7th, 2017]
- Microsoft just upped its multi-million bet on quantum computing - ZDNet [Last Updated On: September 7th, 2017] [Originally Added On: September 7th, 2017]
- Here's what quantum computing is and why it matters [Last Updated On: October 6th, 2017] [Originally Added On: October 6th, 2017]
- What will you actually use quantum computing for? | ZDNet [Last Updated On: October 11th, 2017] [Originally Added On: October 11th, 2017]
- Quantum Computing | Intel Newsroom [Last Updated On: October 13th, 2017] [Originally Added On: October 13th, 2017]
- Intel Takes First Steps To Universal Quantum Computing [Last Updated On: October 13th, 2017] [Originally Added On: October 13th, 2017]
- Qudits: The Real Future of Quantum Computing? - IEEE Spectrum [Last Updated On: October 13th, 2017] [Originally Added On: October 13th, 2017]
- quantum computing - engadget.com [Last Updated On: October 13th, 2017] [Originally Added On: October 13th, 2017]
- Quantum computing - news.microsoft.com [Last Updated On: November 1st, 2017] [Originally Added On: November 1st, 2017]
- IBM's processor pushes quantum computing ... - engadget.com [Last Updated On: November 16th, 2017] [Originally Added On: November 16th, 2017]
- Yale Professors Race Google and IBM to the First Quantum ... [Last Updated On: November 16th, 2017] [Originally Added On: November 16th, 2017]
- Quantum Computing Is the Next Big Security Risk | WIRED [Last Updated On: December 8th, 2017] [Originally Added On: December 8th, 2017]
- Microsoft offers developers a preview of its quantum ... [Last Updated On: December 12th, 2017] [Originally Added On: December 12th, 2017]
- New silicon structure opens the gate to quantum computers [Last Updated On: December 14th, 2017] [Originally Added On: December 14th, 2017]
- Quantum Computing Explained | What is Quantum Computing? [Last Updated On: December 21st, 2017] [Originally Added On: December 21st, 2017]
- What is Quantum Computing? | SAP News Center [Last Updated On: December 23rd, 2017] [Originally Added On: December 23rd, 2017]
- Is Quantum Computing an Existential Threat to Blockchain ... [Last Updated On: December 25th, 2017] [Originally Added On: December 25th, 2017]
- IBM puts its quantum computer to work in relaxing, nerdy ASMR ... [Last Updated On: January 8th, 2018] [Originally Added On: January 8th, 2018]
- Quantum computing is going to change the world. Here's what ... [Last Updated On: January 8th, 2018] [Originally Added On: January 8th, 2018]
- The Era of Quantum Computing Is Here. Outlook: Cloudy ... [Last Updated On: January 26th, 2018] [Originally Added On: January 26th, 2018]
- What is quantum computing? - Definition from WhatIs.com [Last Updated On: February 5th, 2018] [Originally Added On: February 5th, 2018]
- Senate bills would make quantum computing a priority [Last Updated On: June 10th, 2018] [Originally Added On: June 10th, 2018]
- Two Quantum Computing Bills Are Coming To Congress [Last Updated On: July 5th, 2018] [Originally Added On: July 5th, 2018]
- Quantum Computing Market Research Report- Forecast 2022 | MRFR [Last Updated On: August 1st, 2018] [Originally Added On: August 1st, 2018]
- What Is Quantum Computing? The Complete WIRED Guide | WIRED [Last Updated On: August 22nd, 2018] [Originally Added On: August 22nd, 2018]
- Quantum Computing | USRA [Last Updated On: August 30th, 2018] [Originally Added On: August 30th, 2018]
- The quantum computing race the US cant afford to lose [Last Updated On: September 3rd, 2018] [Originally Added On: September 3rd, 2018]
- The reality of quantum computing could be just three years ... [Last Updated On: September 12th, 2018] [Originally Added On: September 12th, 2018]
- US takes first step toward a quantum computing workforce ... [Last Updated On: September 17th, 2018] [Originally Added On: September 17th, 2018]
- China bet big on quantum computing. Now the ... - money.cnn.com [Last Updated On: September 17th, 2018] [Originally Added On: September 17th, 2018]
- China bet big on quantum computing. Now the US races to ... [Last Updated On: October 26th, 2018] [Originally Added On: October 26th, 2018]
- A new type of quantum computer has smashed every record ... [Last Updated On: December 21st, 2018] [Originally Added On: December 21st, 2018]
- IBM unveils its first commercial quantum computer [Last Updated On: January 9th, 2019] [Originally Added On: January 9th, 2019]
- IBM thinks outside of the lab, puts quantum computer in a box [Last Updated On: January 11th, 2019] [Originally Added On: January 11th, 2019]
- Quantum Computing | The MIT Press [Last Updated On: January 11th, 2019] [Originally Added On: January 11th, 2019]
- CES 2019: IBM's Q System One Is the Rock Star Quantum ... [Last Updated On: January 13th, 2019] [Originally Added On: January 13th, 2019]