Quantum Computing Stocks IonQ and D-Wave Quantum Have Nearly Doubled in 5 Weeks — Don’t Take the Bait In case you haven’t noticed, Wall Street is enjoying a rip-roaring bounce from its Iran war correction in March.
While artificial intelligence (AI) stocks continue to take center stage, it’s quantum computing stocks that have delivered some of the most eye-popping returns
From the closing bell on March 30 through the end of trading on May 6, quantum computing pioneers IonQ (NYSE: IONQ) and D-Wave Quantum (NYSE: QBTS) have soared by 98% and 84%, respectively. Honorable mention to Rigetti Computing, as well, for its 56% gain over the same timeline. IonQ and D-Wave Quantum have been unstoppable since late March While improved stock market sentiment is partly responsible for these gains, investors appear to be far more excited about the otherworldly growth prospects of quantum computing stocks.
On May 6, IonQ reported record first-quarter revenue of $64.7 million (up 755% from the prior-year quarter) and increased its full-year sales guidance to $260 million to $270 million. It also closed out the quarter with a treasure chest totaling $3.1 billion in cash, cash equivalents, and investments. We’re beginning to see evidence that quantum computing companies are moving beyond concept and into platforms.