Quantum Computing Stocks Investors May Want To Watch Beyond IonQ

Global bond markets are reacting to higher long dated yields as investors reassess growth and inflation, which puts more focus on companies tied to long term technology shifts like quantum computing stocks. Capital is becoming more selective, so investors who identify credible quantum computing stories early may gain an edge. This article highlights three quantum computing stocks from our screener to watch right now.

The three stocks covered below are just a starting sample, with the full quantum computing screen surfacing 21 more companies that carry their own compelling narratives and risk profiles. If you want to go deeper into this theme, head straight to the Quantum Computing Stocks screener to identify, compare, and analyze the quantum computing stocks that best fit your approach.

IonQ (IONQ)

IonQ is a pure play on commercial quantum computing, developing trapped ion quantum computers and selling access to them through major cloud platforms like AWS Braket, Microsoft Azure Quantum, and Google Cloud Marketplace, as well as through its own services. The business currently reports all revenue from computer services, at about $246 million, covering hardware systems, cloud access, algorithm co-development, and support. IonQ is a sizeable player in this niche, with a market cap of roughly $16.5b.

IonQ is one of the clearest ways to get exposure to real quantum hardware that is already accessible through the cloud, rather than just a research project on the lab bench. The company is building a full stack around trapped ion systems, cloud access, and related quantum-safe communications, while also moving into areas like sensing and semiconductor manufacturing. Investors do need to weigh this against ongoing losses, heavy use of external funding, and a volatile share price, as the business is still in a scale up phase. For anyone interested in where practical quantum computing may go next, IonQ is a story that deserves a closer look.

IonQ’s transition from lab hardware to real cloud customers is only half the story. Before you assume the risk is too high or already priced in, review the 1 key reward and 3 important warning signs (1 is major!)

Build your own quantum computing shortlist

IonQ and the two other quantum stocks in this article all came from a single screener, but the real value is in shaping filters around what matters most to you. Use our customisable Screener to mix metrics like valuation, future growth, balance sheet strength, and risks into your own watchlist, or lean on the curated themes in our Investing Ideas.

Western Digital (WDC)

Western Digital is a global data storage company that designs and sells hard disk drives for PCs, consumer devices, and especially cloud and data center customers. It also collaborates with Open Quantum Design on quantum error correction technology to help make future quantum computers more reliable. The business currently reports all its US$12.9b of revenue from hard disk drives, with sales spread across regions such as the United States, China, Hong Kong, the rest of Asia, and Europe, the Middle East and Africa. Western Digital has a market cap of about US$169.1b, which reflects both its role in large scale AI and cloud storage and the optionality of its early quantum reliability work.

Western Digital may appeal to investors who want AI and quantum exposure without focusing on a small, specialized company. Most of its US$12.9b in revenue and recent high margins are tied to data center HDD demand. At the same time, the Open Quantum Design partnership provides involvement in quantum error correction research that could become relevant as quantum hardware scales. Forecasts for earnings and revenue growth, combined with a P/E that sits well below many tech peers, suggest potential for sentiment to change if the current AI storage surge continues. However, insider selling, high non cash earnings and reliance on external borrowing highlight the need to assess how durable this cycle is and how effectively management can execute.

Western Digital’s AI storage story may be only half the picture, with the rest hidden in how the cycle, debt load, and quantum work fit together. Read the 4 key rewards and 3 important warning signs (1 is major!)

Rigetti Computing (RGTI)

Rigetti Computing is a pure play quantum hardware company that builds superconducting quantum processors and delivers access to them through its quantum computing as a service platform, including Novera 9 qubit chips, Ankaa class 84 qubit systems, and multi chip setups like the 36 qubit Cepheus 1 36Q. The company currently generates about US$13 million of revenue from internet software and services tied to this quantum stack, including cloud access, software and foundry work, across customers in the United States, Europe, and Asia. Rigetti Computing has a market cap of roughly US$5.4 billion.

Investors who want direct exposure to quantum hardware may find Rigetti Computing hard to ignore because it already ships concrete systems like Novera and Cepheus and sells cloud access to its superconducting quantum processors. This fits the screener’s focus on real world quantum platforms rather than theory. Multi year contracts with government and defense programs, potential funding of up to US$100 million from the U.S. Department of Commerce, and collaborations with groups like Hewlett Packard Enterprise signal that Rigetti is involved in efforts to scale hybrid quantum classical computing. The trade off is that revenue is still small, losses are heavy, and results depend heavily on public sector budgets and technical progress. This combination of factors suggests that the stock may warrant closer examination rather than a quick judgment.

Rigetti Computing’s heavy losses and modest revenue of US$13 million often obscure a more important question: What are investors missing about its quantum contracts, funding pipeline, and technical progress that could change the story in a hurry? Read the analysis report for Rigetti Computing

Seeking Fresh Alternatives Before Others Do

Markets move fast and the best quantum and adjacent ideas often gain momentum before the story is obvious. Scan these fresh stock lists while they are still under the radar for now and consider them early.

• Spot resilient operators before the crowd by reviewing the curated 78 resilient stocks with low risk scores that aim to hold up when volatility picks up and sentiment swings.
• Explore potential earnings momentum by checking the hand picked 76 profitable AI stocks that aren't just burning cash that already generate profits instead of relying solely on hopes and funding cycles.
• Position ahead of possible infrastructure build outs with the screened 39 power grid technology and infrastructure stocks that focus on transmission technology, grid upgrades, and related equipment suppliers.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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