The 3 Best Quantum Computing Stocks to Buy for February 2023

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  • Here are the three best quantum computing stocks to buy for February 2023.
  • IBM(IBM): Big Blue is a global leader when it comes to advancing quantum computing.
  • IonQ (IONQ): This quantum computing start-up has cutting-edge technology that industry experts love.
  • Nvidia (NVDA): Its semiconductors and microchips are enabling the world’s most advanced supercomputers.
best quantum computing stocks - The 3 Best Quantum Computing Stocks to Buy for February 2023

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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. Modern quantum computers 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, growing by about 30% a year, predicted research firm Markets and Markets. 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)

The IBM 5160 is a version of the IBM PC with a built-in hard drive. Released on March 8, 1983. The 5100 series are knowns as one of the first home computers.

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Big Blue, as IBM (NYSE:IBM) is known, is a global leader 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, IBM stock was down just 1%  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)

A concept image showing a quantum computer with a matrix background; quantum computing. RGTI stock

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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 introduced three quantum computers 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 operating loss doubled 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)

Closeup of mobile phone screen with logo lettering of nvidia corporation on computer keyboard. NVDA stock.

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California-based Nvidia (NASDAQ:NVDA) makes the semiconductors and microchips that run the world’s most powerful supercomputers. 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 stuff of science fiction.

Companies such as Microsoft (NASDAQ:MSFT) and Meta Platforms (NASDAQ:META) are teaming with Nvidia to help advance their own supercomputers that will power artificial intelligence and the metaverse. 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 rebounded, jumping 48%.

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 Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2023/02/the-3-best-quantum-computing-stocks-to-buy-for-february-2023/.

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