Three quantum computing stocks could realistically turn a $100,000 investment into a seven-figure sum this year. The quantum computing industry is still very young. Many companies trade at depressed valuations, potentially undervalued in proportion to their growth prospects.

Entering into the industry while it’s still early poses significant risks and uncertainties, but overall, I feel that the industry is more of a sure thing. Quantum computing stocks and related companies are necessary for humanity to reach the next stage of computing power. We’ve seen a dropoff in computing power due to the death of Moore’s law, so revolutionary steps need to be taken to reach future breakthroughs.

So, for investors seeking impressive gains, here are three quantum computing stocks that could turn a six-figure sum into a potential ten-bagger or more.

Quantum Computing (QUBT)

Quantum Computing (NASDAQ:QUBT) specializes in developing quantum computing hardware and software for real-world applications. Their main product, Qatalyst, is a quantum application accelerator that helps companies solve complex computational problems.

QUBT could be a potential multi-bagger as one of those quantum computing stocks to consider for a few reasons. The company’s market cap is approximately $62.37 million, indicating a small but potentially growth-oriented enterprise. However, QUBT operates at a loss with an EPS (Earnings Per Share) of -$0.4.

This type of risk is required to bag such a huge increase in capital. You won’t find these opportunities in the Majestic Seven, such as investing in Nvidia (NASDAQ:NVDA) or Microsoft (NASDAQ:MSFT). Prepare to take on a significant amount of uncertainty.

QUBT is also not expected to become profitable anytime soon. Current forecasts imply it might reach breakeven sometime post-FY2028 if all else remains equal.

Furthermore, an analyst has set a 12-month price target for QUBT at $8.75. This suggests a significant potential upside from its current trading range. A “Buy” consensus rating underpins this target.

IonQ (IONQ)

IonQ (NYSE:IONQ), known for developing trapped-ion quantum computers, is a feature setting it apart from its competitors.

This year is positioned to be accretive for IONQ, which will bleed into subsequent years. The company has already established itself as a leader. Its access to its quantum computers through major cloud platforms such as Amazon (NASDAQ:AMZN) Web Services’ Amazon Braket, Microsoft Azure Quantum and others, gives it a significant first-mover advantage.

Analysts have a “Moderate Buy” consensus on IonQ’s stock, with a price target suggesting a significant upside potential. The average forecast for the stock is $16.50, indicating a 58.65% upside from its current price. 

Like other quantum computing stocks, IONQ is unprofitable. However, it is expected to reach a positive EPS sometime in FY2027, according to outside analyst forecasts. What helps to give it a multi-bagger potential is that it has only recorded 22.13 million in revenues this year. That figure should swell to an incredible 321.30 million by FY2027, which is factoring in a significant upside for its intrinsic value.

Hewlett Packard Enterprise (HPE)

Hewlett Packard Enterprise (NYSE:HPE) focuses on information technology (including quantum computing) through its Intelligent Edge segment.

For fiscal year 2024, HPE has set ambitious goals. It projects revenue growth of 2% to 4% in constant currency, with a compounded annual growth rate for annualized revenue run-rate of 35% to 45%. The company aims to return shareholders 65% to 75% of free cash flow over the next three years.

In terms of its presence in quantum, they’ve demonstrated how supercomputers can benchmark computational performance for quantum computing, notably with Gaussian Boson Sampling (GBS). In collaboration with the University of Bristol and Imperial College London, this research dramatically reduced the time to simulate a quantum problem from a predicted 600 million years to just 73 days on an advanced supercomputer. 

The company plans further efforts in quantum. Its intelligent edge segment will continue to be accretive for the business moving forward, especially as the industry moves from being primarily in research and development.

HPE is relatively undervalued for a blue-chip quantum computing stock. It’s trading at just 17 times earnings at the time of writing. This gives it the potential to surge higher. In combination with other stocks on this list, you can create a portfolio worth potentially seven figures.

On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.