Quantum computing uses subatomic particles such as electrons or photons to create supercomputers that are more powerful than any previous computer. Today’s quantum computers are capable of processing vast amounts of data in split seconds and run complex mathematical problems that were believed to be unsolvable just a few years ago. are now used in applications ranging from artificial intelligence and cybersecurity to weather forecasting and optimizing traffic around the world. The market for quantum computing will reach $1.77 billion annually by 2026, , predicted research firm ÃÛÌÒ´«Ã½s and ÃÛÌÒ´«Ã½s. In the future, quantum computing is expected to help us make major advances in medicine and even space exploration. With this area of science growing by leaps and bounds, here are the three best quantum computing stocks to buy for February 2023.
| IBM | IBM | $135 |
| IonQ | IONQ | $5.11 |
| NVDA | Nvidia | $216.70 |
IBM (IBM)
Big Blue, as IBM (NYSE:IBM) is known, is a when it comes to quantum computing. The company’s army of scientists and engineers have been pushing the field forward for decades. Specifically, IBM has unveiled a new 433-qubit Quantum Osprey processor that is capable of processing huge sums of data at lightning speeds and has won applause from analysts and industry experts.
IBM currently has among the powerful quantum computing systems in the world and is partnering on quantum computers with organizations such as Sony (NYSE:SONY), Samsung and the Massachusetts Institute of Technology. While IBM has been criticized in the past for its legacy tech business, namely its IT consulting work, the company is on the cutting edge of quantum computing.
And after a decades-long slump, IBM stock appears to have turned a corner. In the past year, while the S&P 500 and Nasdaq indices entered bear markets, and managed to outperform while many other tech stocks fell 50% or more.
At a current price of $135 a share, and with a dividend yield of nearly 5%, IBM stock looks enticing.
IonQ (IONQ)
Based in Maryland,
IonQ (NYSE:IONQ) makes hardware and software that the most advanced quantum computers run on. Its engineers are focused on developing software that will help to optimize quantum computing.
Since 2020, IonQ has of its own. The company went public in 2021 via a special purpose acquisition company (SPAC), taking advantage of the market mania at that time.
Since its market debut, IONQ stock has declined 50%. Much of the downturn has to do with the fact that IonQ remains in start-up mode.
It reported just $7.3 million of revenue through the first three quarters of 2022, and its in the same time frame. Still, IonQ’s revenue grew 16-fold compared with the first three quarters of 2021. And some analysts rave about the company’s technology and quantum computers.
Nvidia (NVDA)
California-based Nvidia (NASDAQ:NVDA) makes the semiconductors and microchips that run the world’s . Nvidia’s semiconductors and chips run computers that advance research into quantum computing, as well as cutting edge scientific areas such as digital biology, genomics, and artificial intelligence (AI). NVDA’a products are literally the .
Companies such as Microsoft (NASDAQ:MSFT) and Meta Platforms (NASDAQ:META) are to help advance their own supercomputers that will power artificial intelligence and . Without Nvidia’s technology, much of the improvements of quantum computing, AI, and other areas of science wouldn’t be possible.
NVDA stock has been hurt over the last year due to supply chain issues that have curtailed production of its semiconductors and microchips. The company’s share price has sunk 14% in the last 12 months. However, so far in 2023, Nvidia’s stock has .
On the date of publication, Joel Baglole held long positions in NVDA and MSFT. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com .
