Quantum Leap of Faith: Two Stocks to Watch (Maybe)

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Okay, so everyone’s talking about quantum computing. It’s the new AI, only instead of worrying about robots taking our jobs, we’re worried about…well, honestly, nobody really knows what it’ll do yet. But the promise is that these things can crunch numbers like a supercomputer on espresso, solving problems that would take your average laptop until the next ice age. Basically, it’s really complicated, and if you don’t understand it, you’re in good company. The market’s projected to go from a polite $4 billion now to a slightly terrifying $72 billion by 2035. Which, in Wall Street terms, is like going from a quiet book club to a rave in approximately five seconds. So, naturally, everyone wants a piece.

Two companies trying to capitalize on this potential future are D-Wave Quantum (QBTS +1.37%) and IonQ (IONQ +0.84%). Both are currently trading at levels that suggest the market is either deeply skeptical or just hasn’t fully processed the implications. Or maybe everyone is still hungover from the AI boom. Either way, they’re worth a look, if you’re the type who enjoys a little pre-apocalyptic investing.

1. D-Wave: The Optimization Obsession

D-Wave is all about quantum annealing, which sounds like something you’d order at a spa but is actually a method for solving optimization problems. Think figuring out the best delivery routes for Amazon, or scheduling flights so nobody gets stuck in Newark overnight. Useful stuff, sure. But not exactly the key to unlocking the mysteries of the universe. They’ve recently acquired Quantum Circuits, which is like a car company suddenly deciding it also needs to build motorcycles. It expands their horizons, but also raises a lot of questions.

Their CEO, Dr. Alan Baratz, is framing this as doubling the “addressable market.” Which is corporate-speak for “we’re hoping to sell more stuff.” But honestly, I respect the hustle. They posted revenue of $24.6 million last year, up a whopping 179%. That’s the kind of growth that makes accountants nervous and venture capitalists very, very happy. They’ve also got $32.8 million in bookings for next year. Bookings, in corporate-speak, are promises of future revenue. And apparently, D-Wave only counts promises they’re pretty sure won’t be broken. A surprisingly honest admission.

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2. IonQ: The Full-Stack Quantum Dream

IonQ is trying to be the Apple of quantum computing. They want to control everything, from the chips to the software. They recently acquired SkyWater Technology, a semiconductor foundry, which means they can now make their own quantum chips. This is either a stroke of genius or a logistical nightmare. Either way, they’re claiming to be the only “vertically integrated full-stack quantum platform company.” Which is a mouthful, and probably means they have a really good marketing team.

They’ve also been snagging contracts with the U.S. government, which is always a good sign. And they launched a citywide quantum computer network in Geneva, Switzerland. Because apparently, Geneva needed a quantum computer network. They followed that up with a quantum key distribution network in Romania. Which sounds like something out of a spy movie. Revenue soared to $130 million last year, up 202%. They’re forecasting another near-doubling in sales next year. These numbers are impressive, even if you don’t understand what they actually do.

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Look, quantum computing is still in the very early stages. It’s like investing in Betamax in 1975. It might pay off big, or it might just gather dust in your garage. So, if you’re considering buying these stocks, be prepared for a bumpy ride. And maybe, just maybe, have a good therapist on speed dial.

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2026-03-04 20:06