While artificial intelligence (AI) has rightfully gotten a lot of attention over the past few years, quantum computing has become an increasingly hot technology. And one of the companies leading the way in the space is D-Wave Quantum (QBTS 3.30%).
D-Wave Quantum's stock has experienced its fair share of ups and downs, but over the past year, it has been one of the more rewarding investments you could've made in the space. In the past year through Nov. 17, the stock is up around 1,280%. A $1,500 investment made one year ago would be worth around $20,700 today.
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D-Wave Quantum stands out because it's a pure quantum computing hardware and services company, but it's still a relatively new commercial business. In the third quarter, its revenue doubled year over year to $3.7 million, but it reported a loss of $140 million.
NYSE: QBTS
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The losses are expected when dealing with a company in hypergrowth mode, but it definitely adds risks to an investment. D-Wave Quantum is currently trading at over 408 times its projected sales for the next 12 months, which, by virtually every standard, is extremely expensive.
Investing in D-Wave Quantum is a good way to gain exposure to a pure-play quantum computing stock, but there are less risky and more well-rounded tech options available.
