Quantum computing stocks are exploding.

All as Nvidia CEO Jensen Huang becomes far more bullish about quantum computing — and expects they’ll start solving real-world problems in the coming years. “We are within reach” of being able to apply quantum computers “in areas that can solve some interesting problems in the coming years,” Huang added, as quoted by CNBC. “This is a really exciting time.”

In short, there’s still massive upside potential in quantum computing stocks, such as D-Wave Quantum (QBTS), which last traded at $16.55.

Fueling upside in QBTS, the company just announced the availability of its Advantage2 quantum computing system. 

“Today marks a significant milestone not just for D-Wave, but for the quantum computing industry as a whole, as we bring to market our sixth-generation quantum computer, a system so powerful that it can solve hard problems outside the reach of one of the world’s largest exascale GPU-based classical supercomputers,” said CEO Alan Baratz, quoted by Seeking Alpha.With earnings, QBTS just posted an EPS loss of two cents, which beat expectations by three cents. Revenue of $15 million, up 503.3% year over year, beat by $4.5 million. Plus, analysts at Roth Capital just raised their price target to $12 with a buy rating on the stock. Benchmark analysts also raised their price target to $14 with a buy rating.

Sincerely,

Ian Cooper