2 Quantum Computing Stocks to Buy ASAP Before March 20

Quantum computing stocks have risen significantly in recent months due to several ground-breaking developments. For instance, earlier this month D-Wave Quantum (QBTS) demonstrated its quantum computer outperforming a classical supercomputer. Meanwhile, Microsoft’s (MSFT) introduction of the Majorana 1 quantum chip has accelerated timelines for practical applications. 

All eyes are now turning to Nvidia’s (NVDA) ongoing GTC conference, at which the tech giant will host its first-ever “Quantum Day” on March 20. Despite CEO Jensen Huang’s recent comments suggesting useful quantum computers remain 15-30 years away, the dedicated quantum sessions will feature executives from industry leaders like D-Wave, IonQ (IONQ), and Rigetti Computing (RGTI). 

With breakthrough announcements anticipated and valuations still attractive, strategic investors are positioning themselves ahead of what could be a defining moment for the quantum computing market.

Here are two quantum computing stocks investors with a high-risk appetite can buy before March 20. 

Is Rigetti Computing Stock a Good Buy Right Now?

Valued at a market capitalization of $2.9 billion, Rigetti Computing builds quantum computers and the superconducting quantum processors that power them. Rigetti recently partnered with Taiwan-based Quanta Computer, a $43 billion server manufacturing giant. This partnership includes a $35 million investment in Rigetti and commitments totaling over $500 million for quantum computing development over the next five years. The collaboration leverages Rigetti’s quantum expertise while utilizing Quanta’s manufacturing capabilities for non-QPU (quantum processing unit) hardware components.

What distinguishes Rigetti from competitors like International Business Machines (IBM) and Google (GOOGL) (GOOG) is its open modular architecture approach, which enables integration of third-party innovations across the quantum computing stack. The company’s focus on “chiplet” technology — tiling smaller quantum chips together rather than building larger monolithic ones —showcases a path to scale beyond current limitations. 

With $217 million in cash and no debt at the end of 2024, Rigetti appears well-positioned financially to execute its ambitious roadmap while competing against much more prominent players in the quantum computing space.

Out of the five analysts covering RGTI stock, four recommend “Strong Buy” and one recommends “Moderate Buy.” The average target price for the quantum computing stock is $14.80, indicating upside potential of 50% from current levels. 

The Bull Case for QBTS Stock

D-Wave Quantum has established itself as a frontrunner in commercial quantum computing. The company differentiates itself through a quantum annealing approach that solves real-world optimization problems today.

Led by CEO Alan Baratz, D-Wave recently achieved a milestone with its peer-reviewed publication in Science demonstrating quantum supremacy on a practical problem. D-Wave’s quantum computer performed complex material simulations in minutes that would take classical supercomputers nearly a million years to solve.

D-Wave ended Q4 2024, with record quarterly bookings of $18.3 million, driven partly by its first complete system sale to Germany’s Jülich supercomputing center. This sale signals a strategic expansion of D-Wave’s business model beyond its quantum compute-as-a-service offering (Leap).

With over $300 million in cash, D-Wave believes it has sufficient capital to reach profitability — potentially becoming the first pure-play quantum computing company to achieve this milestone. It is also exploring synergies between quantum and AI, with promising early results showing quantum processors could accelerate AI model training while reducing energy consumption.

D-Wave’s commercial success with customers demonstrates its quantum systems are delivering measurable business value today.

Out of the six analysts covering QBTS stock, five recommend “Strong Buy” and one recommends “Moderate Buy.” The average target price for the quantum computing stock is $9.25, slightly below its current trading price.