In recent years, the influence of quantum computing has become increasingly evident. Wall Street has taken note of this powerful technology, which harnesses the principles of superposition to achieve speeds beyond that of traditional computers. As researchers refine quantum computing processes, its potential applications could prove invaluable. With its vast potential applications, it is no surprise that many quantum computing stocks to buy remain an excellent investment area for the long term.
Furthermore, the increasing availability of cloud computing is making it easier for software developers and researchers to explore the possibilities of quantum computing. This exciting development could revolutionize data processing. With the market for cloud-computing services expected to grow exponentially in the next decade, tech companies are setting their sights on quantum technologies to capitalize on this burgeoning industry opportunity. With that in mind, look into the following quantum computing stocks to buy:
IBM (NYSE:IBM) has been a major tech firm for decades. Now it’s investing in cloud computing opportunities and its quantum computer, available for commercial use through its IBM Quantum Services business unit. This innovative approach to expanding their services has proved successful, as more than 140 research organizations and companies. Moreover, IBM has 20 of the most powerful quantum computing systems at this time.
IBM’s Quantum System One is an incredible milestone, as it marks the first integrated system to advance its quantum computing repertoire. It has the potential to effectively liberate unprecedented computing capacity with the potential to bring about incredible advances across multiple sectors. Moreover, the firm believes that 2023 could be a milestone year in commercializing its quantum computing technology.
Taiwan Semiconductor (TSM)
Taiwan Semiconductor (NYSE:TSM) has forayed into the quantum computing market through its strategic partnership with Taiwan’s Ministry of Science and Technology. To help businesses have better access to cutting-edge computing algorithms, the Taiwanese company has launched a cloud computing platform with resources tailored for quantum computing applications. The five-year tie-up between TSM and the ministry is a great example of how both parties can work together to produce innovations that will benefit many in the coming years.
The firm is in an incredible position to leverage its unique capabilities in the cloud positioned to enable multiple businesses to make full use of the unique benefits of quantum devices. Moreover, TSMC’s strong fundamentals provide the impetus to continue investing in new tech verticals. Additionally, it has set ambitious goals through 2026. Specifically, it aims to achieve sales growth of between 15% and 20% and margins of over 53%.
IonQ (NYSE:IONQ) is the first pure-play quantum computing to be listed on the stock exchange. It is positioned to take its technology to the next level and establish a network of quantum computers across multiple cloud services. Its partnerships with Amazon Web Services (AWS) and Google Cloud are a testament to its massive utility in the cloud computing space. The possibilities are endless regarding what IonQ can provide businesses and consumers looking for advanced computational capabilities.
Though it may be a speculative play in its niche, it could be the best way to ride the tailwinds in quantum computing. The company anticipates that the industry will be worth an estimated $65 billion by 2030, and it is pouring resources into developing its product and business to make sure it can take full advantage of such a huge market. Moreover, despite generating little revenue in the present and not yet being profitable, IonQ’s commitment to long-term growth makes this start-up an intriguing investment that has the potential to pay off big in the future.
On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.