7 Quality Quantum Computing Stocks to Buy Before June


  • Nvidia (NVDA): Its Cuda Quantum platform is a first-of-its-kind open-source platform.
  • Advanced Micro Devices (AMD): Its partnership with Riverlane is one way that AMD is working with quantum computers.
  • Taiwan Semiconductor Manufacturing (TSM): Nvidia, AMD and other semiconductor companies outsource the mass production of their semiconductors to Taiwan Semiconductor.
  • Keep reading for more quality quantum computing stocks to buy before June!
Quantum Computing Stocks to Buy - 7 Quality Quantum Computing Stocks to Buy Before June

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Growth stock investors should be considering quantum computing stocks to buy this month, as they represent some of the most dynamic opportunities in the technology sector.

Quantum computing is a massive shift in computing that offers the potential to solve complex problems at speeds and scales that were previously unimaginable.

In short, quantum computing uses the principles of quantum mechanics to process information in different ways than classical computers.

While classical computers rely on bits to store and process information in binary form of 0 or 1, quantum computers operate at subatomic particles, such as electrons or photons. Quantum bits allow these particles to exist in more than one state simultaneously, greatly increasing processing speeds.

And quantum computing is just going to get bigger. A Zapata survey shows that more than two-thirds of companies with revenues of $250 million and computing budgets of at least $1 million are spending more than $1 million yearly to develop quantum computing applications.

Quantum computing can revolutionize industries such as pharmaceuticals, finance, and logistics. And finding quantum computing stocks to buy provides the opportunity to capitalize on this disruptive technology.

The Portfolio Grader analyzes stocks based on earnings performance, revenue growth, momentum and analyst sentiment. Based on those findings, these are the best quantum computing stocks to buy today.

Nvidia (NVDA)

Nvidia (NVDA) company logo displayed on mobile phone screen
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Nvidia (NASDAQ:NVDA) is one of the most dynamic semiconductor stocks you can buy. The company’s powerful graphics processing units are in high demand for their ability to operate machine learning and generative artificial intelligence applications.

That’s help push NVDA stock to incredible highs, as the company reached a market capitalization of $2.2 trillion with massive growth in the last year.

Its Cuda Quantum platform is a first-of-its-kind open-source platform that allows developers to integrate and program quantum processing units, GPUs, and central processing units (CPUs) into a single system.

Nvidia is reporting earnings next week for its fiscal first quarter of 2025, and expectations are high for another blowout quarter. NVDA stock is up 84% this year and gets an “A” rating in the Portfolio Grader.

Advanced Micro Devices (AMD)

Advanced Micro Devices, Inc. (AMD) logo in the building at CNE in Toronto. AMD is an American semiconductor company.
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Advanced Micro Devices (NASDAQ:AMD) is a Nvidia competitor that is making inroads in the GPU field with its MI300 semiconductors that are projected to bring in $4 billion this year from the MI300. It also has a 90% market share for AI chips for personal computers.

AMD has a partnership with the quantum computing company Riverlane that uses AMD’s Zinq UltraScale+ RFSoC as a platform to interface between Riverlane’s control software and the high-speed pulse lasers that are fired to control qubits, which are used in quantum computing.

Earnings for the first quarter were somewhat of a disappointment, however. Revenue of $5.4 billion was up only 2% from a year ago. Profits of $2.5 billion were up 9%, and the company posted a net profit of $123 million after losing $139 million in the first quarter of 2023.

AMD stock will surely be a player in the quantum computing space. The stock is up 4% in 2024 and gets a “B” rating in the Portfolio Grader.

Taiwan Semiconductor Manufacturing (TSM)

image of TSM semiconductor office building
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Taiwan Semiconductor Manufacturing (NASDAQ:TSM) isn’t a competitor to Nvidia or AMD because it’s a much different kind of company. But it’s a brilliant way to invest in the future of quantum computing.

Rather than being a designer of semiconductors, TSMC is a manufacturer. Nvidia, AMD and other semiconductor companies outsource the mass production of their semiconductors to Taiwan Semiconductor, which has roughly a 90% market share in making the most expensive and advanced semiconductors on the market.

That puts TSMC in the prime position to profit from the build out of quantum computing.

Earnings for the first quarter was for $18.87 billion in revenue, up 12.9% from a year ago. Management expects performance to improve for the remainder of the year due to high-demand 3-nanometer and 5-nm products.

TSM stock is up 53% this year and gets a “B” rating in the Portfolio Grader.

Micron Technology (MU)

mu stock
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Micron Technology (NASDAQ:MU) is a semiconductor manufacturing company that makes products for memory and storage technologies, including DRAM, NAND and NOR technology.

Its CP2K platform is an open-source quantum chemistry tool that can be used for a variety of applications, including simulations of solid-state biological systems.

In a test with AMD processors and Micron DDR5 data center memory, Micron says it achieved a 2.1x increase in speed with AMD’s fourth-generation EPYC processors

Revenue for the fiscal second quarter of 2024 was $5.8 billion, up from $3.69 billion a year ago. The company posted net income of $793 million and 71 cents per share, a year after losing $2.3 billion and $2.12 per share.

MU stock is up 80% in 2024 and gets a “B” rating in the Portfolio Grader.

Broadcom (AVGO)

broadcom (AVGO) logo outside office building
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Broadcom (NASDAQ:AVGO) is another semiconductor company. Its products are used for data centers, networking, storage, software, wireless and industrial products.

It has a multiyear partnership with the California Institute of Technology to conduct quantum science research through the Broadcom Quantum Laboratory at Caltech.

The effort supports collaboration in quantum computing, sensing, measurement and engineering, and is expected to open in 2025.

Broadcom also expects to see good things from its acquisition of VMWare, which will allow it to utilize VMware’s hybrid cloud platform. The platform provides large corporate customers with the power of a cloud network with on-premises data centers, and uses Nvidia GPUs to allow its customers to run AI models on-site.

Combined, Broadcom’s reach makes it an attractive choice when seeking quantum computing stocks to buy. AVGO stock is up 68% this year and gets a “B” rating in the Portfolio Grader.

Photronics (PLAB)

PLAB stock: Electronic board, pen, processor on the background of schematic circuit diagram and photomask for manufacture of printed circuit boards.
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Photronics (NASDAQ:PLAB) isn’t a semiconductor company, but it relies on the industry.

The Connecticut company makes semiconductor photomasks, which are opaque plates with transparent areas that allow light to shine through in specific patterns on semiconductors.

As quantum computing evolves and the technology grows in popularity, photomasks like those made by Photronics should also increase in demand, making the photo mask space worth an investment.

Even though the semiconductor industry experienced a weakened first quarter, Photronics had a solid quarter. Revenue was $216.3 million, up 2% from a year ago. The company reported income of $26.2 million, or 42 cents per share, versus $14 million and 23 cents per share a year ago.

Photronics also has a solid balance sheet with $508.5 million in cash and only $23.4 million in debt.

PLAB stock is up 36% this year and gets a “B” rating in the Portfolio Grader.

Marvell Technology (MRVL)

image of the marvell (MRVL) technologies office campus
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Marvell Technology (NASDAQ:MRVL) designs and manufactures semiconductors for carrier, enterprise, data center and automotive platforms.

Its products are designed to help transmit data quickly so AI platforms can function smoothly. Its chips are used in routers, Ethernet switches and digital signal processors.

The company’s products include its Marvell LiquidSecurity cloud-optimized hardware secure module adapter that is designed to provide performance and remote management for cryptographic environments using AI and quantum computing.

Earnings for the fourth quarter of fiscal 2024 included revenue of $1.427 billion, up 1% from a year ago. Profits were $664 million, down from $673.3 million a year ago.

MRVL stock is up 12% this year and gets a “B” rating in the Portfolio Grader.

On the date of publication, Louis Navellier and the InvestorPlace Research Staff member primarily responsible for this article had long positions in NVDA. They did not have (either directly or indirectly) any other positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/market360/2024/05/7-quality-quantum-computing-stocks-to-buy-before-june/.

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