Quantum computing has the potential to be a major technological breakthrough that comes after artificial intelligence (AI). However, this is an emerging field that still has many technological issues to work out before it can be useful and then commercialized. Thus, the deposits involved in the field are predictable.
With that said, let’s look at two quantum computing stocks that have a lot of potential.
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The biggest issue currently facing quantum computing is that the technology is still prone to error. that’s why IonQ (NYSE: IONQ) One of my favorites in space, because its trap-ion technology has been shown to be so accurate, the company has achieved 99.99% 2-door fidelity. While 99.99% accuracy may seem like a lot, when you’re doing billions or trillions of calculations per second, it still leads to a lot of errors. However, this is the limit for the company to start using quantum error correction to create a fault tolerant system.
At the same time, the company has made several smart acquisitions to help it solve its pressing problems with scaling and become a full quantum ecosystem player. One of its most significant achievements was the purchase of Oxford Ionics, which gave it electronic qubit control technology to better stabilize and eventually reduce its trap-ion system. Meanwhile, the pending acquisition of SkyWater will give it control of a leading quantum foundry to help it scale and better integrate its designs into the manufacturing process.
While quantum computing is still in its early days, IonQ’s revenue has skyrocketed, as both the private and public sectors are increasingly interested in the technology. In Q4, its revenue rose 429% to $61.9 million, well ahead of its guidance. Meanwhile, the IonQ was recently selected for the Missile Defense Agency SHIELD IDIQ program, which is the backbone of procurement”golden dome” innovation While the contract has a large cap of $151 billion, the real value to IonQ is that it gives The company has a seat at the table to compete for specific Pentagon work orders in quantum sensing, networking, and high-speed simulation.
Another interesting area in the quantum computing space is storage D-Wave Quantum (NYSE: QBTS ). The company began focusing on quantum annealing, which is a highly specialized area within quantum computing that deals with optimization problems. Instead of creating a machine that can do everything, these systems instead try to determine the ideal situation for a particular problem by arriving at the best possible solution.
