These quantum computing businesses are needle-movers in their sector and offer incredible upside ahead
- Now may be the time to consider the following quantum computing stocks.
- IBM (IBM): 2023 could prove to be a crucial year for quantum computing commercialization.
- Microsoft (MSFT): Azure Phantom has positioned Microsoft to become a major player in the fast-evolving quantum computing sphere.
- Amazon (AMZN): The company is investing heavily in its quantum computing abilities.
Quantum computing stocks hold incredible promise for long-term investors. In terms of what the future of computing will look like, and the future performance of computers, this is a space many long-term investors continue to hone in on.
Rather than traditional binary-based bits, these quantum computing companies rely on qubits that can store and calculate multiple values simultaneously. This provides exponentially-greater computing power potential, compared to current systems. Hence, it’s apt for investors to look at the best quantum computing stocks right now.
Many investors are eager to get ahead of the game and capitalize on the immense potential of this revolutionary technology. Fortunately, investors likely won’t have to wait long. Projections point to quantum computing becoming commercially-available sooner rather than later, with a staggering projected growth rate of 31.2% through 2029. As such, now is a great time for investors to consider the following three quantum computing stocks.
|IBM||International Business Machines||$140.41|
International Business Machines (IBM)
IBM (NYSE:IBM) is one of the biggest names in quantum computing and is set to provide many groundbreaking developments in the field over the next few years. As a result, investors should consider this company as a leading investment opportunity in 2023.
IBM currently boasts more than 20 of the most powerful quantum systems available. The company has partnerships with leading companies, academic institutions, and startups looking to enhance their innovative profile. Indeed, IBM stands out as one of the top players in this field, making it a leading option for potential investors seeking investment opportunities in quantum computing.
IBM’s Quantum System One is a major milestone for the commercialization of quantum computing as it is the first integrated system designed for that purpose. The quantum-centric supercomputer will allow customers to scale by combining quantum communication and computation. At the same time, seamless hybrid cloud middleware will flawlessly integrate classical and quantum workflows, creating massive potential in terms of computing capacity. According to IBM, 2023 could prove to be a crucial year for quantum computing commercialization.
Microsoft’s (NASDAQ:MSFT) Azure products and services are truly leading the way when it comes to the company’s success. The company’s intelligent cloud revenue grew over 20% in its most recent quarter. Moreover, company sales have been growing by double-digit percentages over the past several quarters, constituting a hefty portion of overall company sales. The success of Azure is closely linked to MSFT’s quantum computing prospects.
With the release of Azure Quantum, Microsoft has positioned itself as a major player in the growing quantum computing industry. The company is providing researchers, businesses, and developers with an innovative way to access advanced computing solutions by offering a complete open quantum cloud ecosystem. Furthermore, Microsoft’s reliable infrastructure and commercialization ability have likely set the stage for massive market share expansion over the next 10 years. Azure Quantum looks to be an exciting, forward-looking product that could revolutionize the company’s cloud computing prospects.
Despite its tech giant status, Amazon (NASDAQ:AMZN) hasn’t been immune to headwinds this year, taking an unanticipated 39% beating. However, for a savvy investor looking for a buying opportunity, AMZN stock could be just that.
Amazon is establishing itself as a major player in the field of quantum computing. With projects like Amazon Braket, a fully-managed service providing users access to modern software and hardware tools, the company is making great strides towards strengthening its position in this fast-growing space. Amazon’s commitment to quantum computing is demonstrated by its ambitious initiatives such as the AWS Center for Quantum Networking and the Amazon Quantum Solutions Lab. These are critical components to the company’s focus on progressing towards a quantum-enabled future.
These investments demonstrate that Amazon is fully invested in pushing quantum computing forward, making this a high-profile quantum computing stock investors shouldn’t overlook right now.
This post originally appeared at InvestorPlace.