The First 5 Quantum Computing Stocks I Would Buy If I Were Starting From Scratch
Quantum computing is not some far-fetched technology that seems like it belongs in a sci-fi movie. The original technology is already being used in other industries successfully, and widespread quantum computing is not that far in the future.
This makes it very important for investors to position their portfolios for success now, as the hype behind quantum computing could cause a number of these stocks to rise quickly once the market wakes up to the potential of its widespread use.
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If I were starting my portfolio over, I would pick these five computer stocks today. Although this investment portfolio is focused on quantum, I think it has what it takes to outperform the market in the long run.
Pure sports: IonQ and D-Wave Quantum
Both IonQ (NYSE: IONQ) again ID-Wave Quantum (NYSE: QBTS) are popular quantum computing projects. They are pure games, so they have only one goal: to build a functional quantum computer that is widely used. If they fail in this task, their stocks will go to $0.
Fortunately for their shareholders, these two are already seeing success and are firmly on their way to becoming very large companies.
IonQ is the world record holder for the most accurate quantum computer. This is a big deal because the high error rates of quantum computers are one of the main problems that must be fully solved before they are suitable for widespread use. Another scale: Quantum computers need to work with many qubits to handle the kinds of complex calculations that are expected to provide many of their use cases.
IonQ recently announced a new program that describes how it can scale its technology to a 10,000-qubit quantum computer. This would be a huge success and establish itself as a top competitor in the space.
ID-Wave Quantum takes a different approach from many other companies pursuing this type of technology. Instead of trying to build a general-purpose quantum computer like the IonQ, build quantum computing machines. These tools are useful for a narrow range of tasks, but are at the forefront of optimization problems — and that category happens to cover a number of the most obvious commercial applications of quantum computing.
ID-Wave Quantum has already sold a few of these devices, and several companies are using them for tasks such as managing complex planning and supply chains. That puts D-Wave Quantum on the path to becoming a viable company. Its customized solutions may be the best way to invest in this space.
Legacy technology players: Alphabet and Microsoft
While IonQ and D-Wave can give investors huge profits if they succeed, if they fail, investors lose everything. Therefore, it would be wise to balance those predictive and fixed predictors, such as Alphabets (NASDAQ: GOOG) (NASDAQ: GOOGL) again Microsoft (NASDAQ: MSFT). Both of these tech giants are competing in the quantum computing space, and both have announced breakthroughs in the technology.
Alphabet has published several important papers about the power of quantum computing, including one that predicts it will be able to break the security of cryptocurrency as soon as 2029. Microsoft did not talk about its quantum breakthrough, but it is developing its quantum processors, and it is expected to be a big player in this field.
I think both of these stocks are good picks in general, and if one of the quantum computing solutions works, it could be a significant contribution to their rise.
Bridging the gap: Nvidia
Nvidia (NASDAQ: NVDA) believes that when quantum computers take off, they will be in the hybrid computing space where they work alongside supercomputers powered by accelerated computing units (such as their GPUs). If so, Nvidia is well positioned to take advantage.
It performs several tasks, such as releasing a purpose-built artificial intelligence (AI) model for quantum computers, adapting its leading CUDA software for the quantum computing environment, and creating NVQLink, which allows quantum computers to connect to classical accelerated computing infrastructure. All of this lends itself to a hybrid approach, which could allow Nvidia to maintain its dominance in the computing world while closing the gap on the next big technology.
I think this is a great way to value the space and give you a boost in the current AI currency while you wait for quantum computing to become mainstream.
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Keithen Drury has positions in Alphabet, IonQ, Microsoft, and Nvidia. The Motley Fool has positions and recommends Alphabet, IonQ, Microsoft, and Nvidia. The Motley Fool has a policy of disclosure.
The Top 5 Quantum Computer Stocks I’d Buy If I Were Starting From Scratch was originally published by The Motley Fool.
