Quantum stocks ranked by their Seeking Alpha Quant rating
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Quantum computing companies have grabbed the spotlight after Alphabet’s (NASDAQ:GOOG)(NASDAQ:GOOGL) Google unveiled what it called a “mind-boggling” quantum computing chip earlier this week.
The product, known as Willow, is capable of handling complex calculations in a span of five minutes, while the world’s most powerful supercomputers would need 10 septillion years, the tech giant said on Monday in a study published in Nature.
The announcement sent waves through the quantum computing world, and also led to some hefty moves in other publicly listed U.S. quantum computing firms.
College Park, Md.-based IonQ (NYSE:IONQ) saw its stock slump -21.4% from Monday to Wednesday, then recover +12.8% on Friday to finally end the week -10.9%.
Shares of Berkeley, Calif.-based Rigetti Computing (NASDAQ:RGTI) surged +68.5% from Monday to Wednesday, fell -19.1% on Thursday, and then rose +19.9% on Friday to finally end the week +63.5%.
Meanwhile, shares of Palo Alto, Calif-based D-Wave Quantum (NYSE:QBTS) saw some wild swings through the week but finally ended up down slightly -1.2%, and Hoboken, N.J.-based Quantum Computing (NASDAQ:QUBT) saw its stock shed -15.4%.
The four companies have a collective market capitalization of $10.27B. IonQ (IONQ) is by far and away the biggest of the lot, with a market cap north of $7B.
The four firms are ranked below by their Seeking Alpha Quant rating, along with financial information as per their latest quarterly reports:
1. Quantum Computing (QUBT)
- Quant rating: Strong Buy, 4.99.
- Market cap: $664.9M.
- Q3 2024 GAAP loss per share of 6 cents on revenue of $101K (+102% Y/Y).
2. Rigetti Computing (RGTI)
- Quant rating: Strong Buy, 4.99.
- Market cap: $1.38B.
- Q3 2024 GAAP loss per share of 8 cents on revenue of $2.4M (-23.,4% Y/Y).
3. IonQ (IONQ)
- Quant rating: Hold, 3.49.
- Market cap: $7.32B.
- Q3 2024 GAAP loss per share of 24 cents on revenue of $12.4M (+102.1% Y/Y).
4. D-Wave Quantum (QBTS)
- Quant rating: Hold, 3.48.
- Market cap: $901.3M.
- Q3 2024 GAAP loss per share of 11 cents on revenue of $1.9M (-27% Y/Y).
Aside from these companies and Google, tech titans IBM (IBM), Microsoft (MSFT) and Amazon (AMZN) also offer quantum computing solutions. Another company of note is Quantinuum, which was formed by the merger of Cambridge Quantum and Honeywell (HON) Quantum Solutions.
Here are some technology-linked exchange-traded funds of interest: (VGT), (XLK), (IYW), (FTEC), (IXN), and (RSPT).