Analyzing Quantum Computing Stocks: D-Wave vs. IonQ

Quantum Computing Stocks

The rapid advancement of artificial intelligence (AI) has led to a surge in demand for high-speed computation, driving interest in quantum computing companies. Among them, D-Wave Quantum Inc. (NYSE:QBTS) and IonQ, Inc. (NYSE:IONQ) stand out for their innovative contributions to the field. Let’s delve deeper into these companies to determine which one holds more upside potential.

D-Wave Quantum Stock Analysis

D-Wave, founded in 1999, has established itself as a prominent developer of quantum computing systems and software. With its quantum annealers boasting over 5,000 qubits, D-Wave holds significant potential for commercial applications. The company’s market cap currently stands at $311.9 million.

QBTS stock has witnessed a remarkable surge of 309% over the past 52 weeks, significantly outpacing the broader market. In its latest quarterly report, QBTS reported a 51.2% year-over-year increase in revenue to $2.6 billion, driven by a 62% rise in commercial revenue. The company’s focus on energy-efficient quantum computing systems positions it favorably amid increasing energy demands from AI growth.

Furthermore, D-Wave’s inclusion of its high-performance 1,200+ Qubit Advantage2 prototype in its Leap quantum cloud service underscores its commitment to innovation. Analysts anticipate a robust revenue increase of over 95% year-over-year in the upcoming earnings report.

Despite a consensus “Strong Buy” rating from analysts, the mean target price of $2.00 suggests a slight discount to current levels.

IonQ Stock Analysis

IonQ, headquartered in Maryland, focuses on developing general-purpose quantum computing systems. It became the world’s first public pure-play quantum computing company upon its listing on the New York Stock Exchange in October 2021. IonQ’s market cap currently stands at $1.89 billion.

IONQ shares returned 86.5% over the past 52 weeks, demonstrating solid growth potential. However, the company faces challenges, with widening losses highlighted in its latest earnings report. While Q4 revenue exceeded expectations at $6.1 million, the net loss widened to $41.9 million, driven by investments in technology development and infrastructure.

Despite the forecast for continued losses, IonQ maintains a consensus “Moderate Buy” rating from analysts. The average price target of $16.50 suggests a significant upside potential of 81.1% over the next year, with the highest target price projecting a rally of up to 130.5% from current levels.


Both D-Wave and IonQ exhibit promising prospects in the quantum computing space. While D-Wave has shown strong revenue growth and technological advancements, IonQ’s public listing and broader market reach offer unique advantages. Investors should weigh the potential risks and rewards of each company before making investment decisions.

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