Top 3 Most Promising Quantum Computing Stocks to Buy in June 2023

Investors looking to capitalize on the burgeoning quantum computing revolution are being presented with promising quantum computing stocks with high growth potential.

As quantum computing reaches a more commercially viable level in 2023, corporate decision makers and CEOs increasingly recognize its transformative power. Furthermore, with the growth of global private investment in quantum computing, the market is set to expand substantially. As a result, this article highlights the best quantum computer stocks to consider for investment.

According to Precedence Research, the global quantum computing market will reach approximately $125 billion by 2030. This translates into a compound annual growth rate (CAGR) of 36.89% from 2022 to 2030. However, I strongly believe that with the excitement generated by this area, it will easily exceed these estimates. Therefore, this exponential growth trajectory underpins the immense opportunities available to investors.

Below is a collection of three promising quantum computer stocks that offer the potential for significant growth in the years to come. When looking for new stocks to add to your portfolio, consider these options carefully.

NVIDIA (NVDA)

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Nvidia (NASDAQ:NVDA extension), a leading player in the quantum computing market, holds a significant position as a leading supplier of graphics processing units (GPUs), which are critical for improving computing performance. In particular, Nvidia is branching out into the hardware domain with the introduction of DGX Quantum. This pioneering computer system combines GPUs and quantum computing, marking a remarkable advance in the field.

The DGX Quantum harnesses the immense potential of Nvidia’s Grace Hopper superchip, enabling researchers to develop exceptionally powerful applications. This integration facilitates essential functionalities such as calibration, control, quantum error correction and hybrid algorithms, as pointed out by the company.

Considering Nvidia’s central role in the global semiconductor market and its burgeoning presence in quantum architecture, NVDA stock holds promise as a solid long-term investment opportunity for quantum computer investors, despite the reality that potential its benefits could take several years.

Alphabet (GOOG)

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Alphabet (NASDAQ:GOOG), the parent company of Google, has made great strides in the quantum computing market. In 2018, the company unveiled the Bristlecone, a quantum processor boasting a whopping 72 qubits, demonstrating its commitment to advancing quantum technology. In addition, Alphabet proceeded to establish its own private company dedicated to quantum computing and artificial intelligence.

In a major breakthrough, Alphabet engineers recently announced a major milestone in the quantum computing industry. They revealed that their quantum processor has the potential to mitigate common errors associated with quantum computing by increasing the number of qubits employed in computational processes.

On a separate note, Alphabet has been a top-performing company in the stock market for several years. And its shares are doing well in 2023, up 40% year-to-date. This performance is especially impressive, considering the misstep earlier in the year the company suffered when it launched its generative AI offering, Bard.

However, Google Cloud Platform and Alphabet’s YouTube services continue to occupy a huge chunk of their respective markets. In essence, Alphabet can afford to make mistakes about its AI ambitions. (On a side note, if you want to learn more about AI and its associated titles, check out this article.)

Undoubtedly, Alphabet is building a strong foundation in the realm of quantum computing. With its proven track record, the title is a promising long-term investment for those focusing on the quantum computing industry.

Honeywell (HON)

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Invest in treasure (NASDAQ:ON) offers a key advantage: Its diverse range of businesses allows the company to grow profits in different economic climates. At the same time, it offers a unique way to invest in quantum computing.

Quantinuum, a quantum computing venture jointly owned by Honeywell and Cambridge Quantum, recently appointed Raj Hazra, a seasoned veteran with 30 years of experience in supercomputing, as its new chief executive officer (CEO).

This strategic move highlights the industry’s recognition of the need for visionary and accomplished leaders. They possess the expertise to propel quantum computing from a realm of scientific theory to formidable force.

Under Hazra’s leadership, Quantinuum established a strong foundation in the quantum landscape. The company has focused intensely on the development of quantum computing products in critical fields such as Internet security, climate modeling and drug research. Emphasizing the capabilities of the enterprise, Hazra highlighted the presence of “cutting edge” engineering talent within Quantinuum, which boasts a talented workforce of 350 scientists.

With Hazra at the helm, Quantinuum is ready to leverage her expertise and resources to drive advances in quantum computing. The company’s focus on game-changing applications and the caliber of its scientific staff bode well for its potential to emerge as one of the most promising quantum computer stocks to consider for investment.

Are you done with this list? No problem! We have an excellent article by Ian Cooper that you can check out. He conducted extensive research while profiling three promising quantum computer stocks. Good investment!

As of the date of publication, Faizan Farooque did not hold (directly or indirectly) any positions in the securities mentioned in this article. Opinions expressed in this article are those of the writer, subject to InvestorPlace.com posting guidelines.