From Nasdaq: 2024-05-07 09:04:00

The U.S. and China are in a tight race for quantum computing dominance, with the U.S. committing $3 billion and China investing about $15 billion over the next five years. The quantum computing market could boom to over $6.5 billion by 2030, presenting significant opportunities. Quantum computing is a game changer with the potential to revolutionize humanity’s capabilities.

IonQ stock, trading at $9.28, recently showed strong support at $7 and is expected to reach $11.50 near term. The company reported revenue growth of 98% in 2023 and bookings of $65.1 million. Analysts at Benchmark maintain a buy rating with a $16 price target, citing exceeded expectations and expanding customer base.

D-Wave Quantum stock, now at $1.41, had a recent drop but is consolidating and analysts initiated a buy rating with a $2.50 price target. The company focuses on commercial applications, generating 70% of revenue from commercial customers in 2023. Benchmark analysts also raised their price target to $4, noting technological advancements.

The Defiance Quantum ETF offers exposure to 71 quantum computing-related stocks at a lower cost with an expense ratio of 0.40%. Top holdings include MicroStrategy, Nvidia, and Applied Materials. The ETF, currently at $59.92, is rebounding from support at $55.06. Diversification and lower cost make it an attractive investment option for those interested in quantum computing.

Read more at NASDAQ.: 3 Quantum Computing Stocks With the Potential to Make You an Overnight Millionaire