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Quantum computing is a revolutionary technology that allows for complex calculations to be performed at speeds that are well beyond what traditional computers can achieve. Thus, the technology is based onthe laws of quantum physics.

Among the fields that can benefit tremendously from quantum computing are drug discovery, financial analysis, and nuclear fusion. Given the technologys tremendous utility, the companies that are leaders in this space are likely to perform very well from a fundamentals and growth perspective. As a result, there are plenty of quantum computing stocks with high potential worth considering.

Importantly, the advent of other technologies, including artificial intelligence, is increasing the overall demand for computing power. This further enhances the longer-term potential of quantum computing overall.

With that said, here are three of the top quantum computing stocks to invest in, given their explosive upside potential.

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As I notedin a previous column,IonQ(NYSE:IONQ) markets hardware for quantum computing. Given that demand for IonQs products is growing rapidly, the company increased its 2023 bookings growth guidance by 25% to a range of $45 million to $55 million. Additionally, I noted that at the midpoint of the bookings guidance, it is expecting a 100% growth compared to last years bookings of $24.5 million.

Moreover, the large Japanese tech investor,Softbank,obtained a large stake in IonQ in 2021, showing some faith in the firm and its offerings.

Theres an exponential increase in the need for computational power, and quantum computing uniquely helps enable that, one of the investors partners toldThe Wall Street Journal.

Impressively, IonQs CEO, Peter Chapman, before coming tothe company, was Director of Engineering forAmazons (NASDAQ:AMZN) Amazon Prime. And, according to Chapmans bio, he is credited with inventing the original sound card for computers, writing the software the Federal Aviation Administration uses to prevent mid-air collisions, and developing systems that protect the integirty of finncial markets.

So the CEO has a tremendous record of developing hugely useful computer products. As a result, I believe that IonQ will develop great offerings under his leadership.

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As anotherInvestorPlacecolumnist, Josh Enomoto, recentlynoted, Rigetti Computing(NASDAQ:RGTI) develops quantum integrated circuits used for quantum computers. Italso develops quantum computers themselves.

Intriguingly, in addition to quantum computing, Rigetti intensively utilizes artificial intelligence.

Using these two technologies, Rigettihas developed a model that predicts economic recession periods using cutting-edge quantum machine learning techniques. Additionally, the company rightly asserts that quantum computing can enhance the performance of AI. Of course, making AI even more powerful would be a quite attractive feature for many businesses.

It should also be noted that Rigetti owns the intellectual property for the hybrid quantum-classical approach that has become the predominant quantum computing architecture. As quantum computing becomes more prevalent and mainstream, that asset should be extremely valuable.

Rigettis current market capitalization of $118.5 million far understates its long-term potential, in my view. This is a stock with explosive upside at current levels.

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According toSeeking AlphacolumnistHensite Capital,D-Wave Quantum(NASDAQ:QBTS) has the most experience assisting customers in resolving practical optimization problems that are challenging for computers. Moreover, D-Wave Quantum is the only company with operational and commercial experience managing a large-scale quantum computing business.

D-Wave says that it is the only firm offering a type of quantum computing called quantum annealing. During D-Waves first-quarterearnings call, held on May 19, CEO Alan Baratz said, Companies are increasingly turning to [quantum annealing] to find solutions to their most computationally complex optimization problems.

Among the issues being solved with the technology are employee scheduling, factory process automation, fraud detection, (and) advertising optimization, Baratz reported.

He added that, over the last year, the companys sales to commercial customers had climbed an impressive 30%. Additionally, D-Waves bookings soared an incredible 297% last quarter versus the same period a year earlier.

Given the apparent great usefulness of D-Waves technology and its rapid growth, its one of the best quantum computing stocks to buy, hands-down.

On the date of publication, Larry Ramerdid 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.

Larry Ramer has conducted research and written articles on U.S. stocks for 15 years. He has been employed by The Fly and Israels largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been PLUG, XOM and solar stocks. You can reach him on Stocktwits at @larryramer.

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3 Quantum Computing Stocks to Buy With Explosive Upside Potential - InvestorPlace