3 Best Quantum Computing Stocks to Buy in October

Stocks to buy

Quantum computing is all the rage currently, and thousands of engineers have been working to make it more accessible. It’s no secret that it will be one of the hottest must-have technologies in the short-term future. But what are the best quantum computing stocks to buy?

Every major tech company invests heavily in quantum research, and the race will be the first to commercialize a scalable quantum computer.

There are many ways to take advantage of the ever-growing quantum computing trend. One is investing in companies actively researching and developing quantum computers, such as IBM (NYSE:IBM), Google, and Microsoft (NASDAQ:MSFT).

Another is to invest in companies that are likely to be big users of quantum computers once they become available, such as Amazon (NASDAQ:AMZN) and Alibaba (NYSE:BABA).

Finally, you can invest in the infrastructure required to support large-scale quantum computing, such as data center operators like Equinix (NASDAQ:EQIX).

When investing your money in stocks, you have plenty of good choices regarding quantum computing. The key is to do your homework and select the companies you believe to have the best chance of success in this fledgling industry.

Many companies market the development of quantum computing – but these three stocks might be ones you’ve missed:

HON Honeywell $178.60
IONQ IonQ $5.38
RGTI Rigetti Computing $2.08

Honeywell International (HON)

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Honeywell (NASDAQ:HON) is best known for its consumer products, but it is also a major player in quantum computing.

Major corporations like IBM and Google are already using the company’s quantum computers. However, Honeywell is actively working on expanding its customer base aggressively.

In addition, Honeywell is investing heavily in research and development, and it has partnered with major universities to advance the state of quantum computing. As a result, Honeywell will benefit from the continued growth of the quantum computing industry.

Recently, Honeywell revealed it was looking to spin off its quantum computing services as a separate entity in a most interesting development. The company will combine these emerging technologies at Cambridge Quantum Computing.

While some investors are concerned about the move, Honeywell insists it will allow the company to focus on its core businesses and create more shareholder value. Only time will tell if this decision will pay off. But Honeywell remains one of the leaders in quantum computing. And its stock price is likely to continue to reflect this.

IonQ (IONQ)

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IonQ (NYSE:IONQ) is a relatively new company to make quantum computing more accessible. It is the first pure-play quantum computer company to become publicly traded.

Its technology is currently being used by major corporations such as Microsoft, Amazon’s Web Services (AWS), and Google Cloud. Furthermore, Japan-based conglomerate SoftBank (OTCMKTS:SFTBY) is investing in the company to use its quantum computing power in technology projects.

Altogether, IonQ is one of a handful of companies driving the development of quantum computing. As quantum computing technology advances, there is hope that it will eventually be able to solve problems too complex for classical computers.

This will impact the finance, healthcare, telecommunications and energy industries. Quantum computing stocks are thus an attractive investment opportunity for long-term growth potential.

If you are willing to take on more risk when investing in quantum computing stocks, then IonQ will make sense, although the company is loss-making.

Rigetti Computing (RGTI)

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Rigetti Computing (NASDAQ:RGTI) provides quantum computing systems and services. It offers a full stack of quantum hardware and software products.

Rigetti’s mission is to build the world’s most powerful computers that address humanity’s biggest challenges. To that end, the company offers free access to its Quantum Cloud Services platform. It also offers the Rigetti Forest SDK, a Python-based software development kit for quantum computing.

Rigetti is a loss-making enterprise at this time, which makes sense since it’s still new to the game. Many startups go through a period of losses before establishing themselves and becoming profitable.

Rigetti is expected to become a profitable company within the next few years as quantum computing becomes more prevalent. For now, Rigetti is a loss-making enterprise. However, you can expect this to change, given that quantum computing is still in its early stages.

Rigetii is leading the way in quantum computing with its breakthroughs in technology. With its strong financial backing and cutting-edge technology, Rigetii will help revolutionize how we use computers.

Along this journey, investors will benefit immensely. If you are looking for a good investment opportunity among quantum computing stocks, then it is worth considering Rigetti. It has the potential of becoming a multi-bagger in the future.

On the publication date, Faizan 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.

Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.

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