by Ian Cooper

Quantum computing stocks could see higher highs.

If you’re new to quantum computing, it may be able to help solve problems far too complex for typical computers within minutes, or even seconds.

It could even be used to discover new drugs, quicker than even imagined. For example, according to ZDNet.com, the discovery of new drugs relies on molecular simulation, which is complex and time-consuming with all of the calculations needed.

“It’s expected that modeling a molecule with only 70 atoms would take a classical computer up to 13 billion years,” they added. Meanwhile, a quantum computer may be able to figure it all out in minutes. 

Quantum computing may even be able to help advance artificial intelligence, machine learning, financial modeling, cybersecurity, batteries, and even help with the green energy boom. 

No wonder governments all over the world are heavily investing in quantum computing. 

In fact, according to the State of Quantum 2024, more than 30 governments have already made commitments of more than $40 billion to quantum technologies over the next 10 years. Even better, some analysts say the quantum computing market could eventually be worth about $850 billion by 2040, noted Forbes. 

But this is just the start.

That being said, investors may want to jump into quantum computing stocks, such as:

Quantum Computing (QUBT)

Over the last few months, QUBT exploded from about 68 cents to a recent high of $17.62. And it could push even higher, as quantum computing excitement builds.

Helping, the company was recently awarded a NASA contract to “utilize Dirac-3, its entropy quantum optimization machine, to support the space agency’s advanced imaging and data processing demands,” as noted by Seeking Alpha.

Rigetti Computing (RGTI)

Since October, RGTI ran from about $1 to a recent high of $9.37. It could also see higher highs as the industry heats up. Helping, analysts at Craig-Hallum initiated coverage of the RGTI with a Buy rating and $12 price target.

Analysts “said quantum computing has an opportunity to revolutionize the world like very few technologies can, and though its commercial impact is still years in the future, its market size and disruptive potential for classical compute makes it relevant to investors today. Rigetti has unique scaling advantages which may allow it to achieve equivalency or superiority versus its direct peers, and to achieve quantum advantage in the next few years,” added Seeking Alpha.

Defiance Quantum ETF (QTUM)

Or, if you want to diversify at a lower cost, there’s an ETF such as the Defiance Quantum ETF (QTUM). Since October, it exploded from about $57.50 to $90. Now back to $77.50, it’s another hot quantum computing idea. With an expense ratio of 0.4%, the ETF holds 73 related stocks, including D-Wave Quantum, Ionq Inc., Rigetti Computing, Tower Semiconductor and Palantir Technologies to name just a few of the top ones.