Quantum computers could represent the next leap forward for the tech sector. Unlike classical computers, which still store data as binary bits of zeros and ones, quantum computers can store those zeros and ones simultaneously in a quantum state as qubits. That difference enables quantum computers to crunch more data and perform specific tasks much faster than their classical counterparts, but they're also bigger, pricier, and less power-efficient.
However, Fortune Business Insights expects the quantum computing market to expand at a 34.8% CAGR from 2025 to 2032 as companies roll out more sophisticated, cost-efficient systems. Let's examine two of those companies -- D-Wave Quantum (QBTS 4.28%) and IonQ (IONQ 1.75%) -- and see why they might be worth buying in February.
Image source: Getty Images.
What do D-Wave and IonQ do?
D-Wave accelerates electrons in both clockwise and counterclockwise directions through superconducting loops to achieve a quantum state. These electron-powered systems are simpler and cheaper to manufacture than other types, but they can be expensive to operate and maintain because they require cryogenic refrigeration.
D-Wave's systems are designed explicitly for quantum annealing, a process that helps organizations optimize their workflows by identifying the ones which consume the least power. It also designs its own QPUs and Advantage quantum systems, and provides quantum computing as a service through its cloud-based Leap platform.
NYSE: QBTS
Key Data Points
IonQ traps ions with delicate lasers to put them into a quantum state. Its systems are expensive to manufacture and require ongoing maintenance, but they don't need any refrigeration. Unlike D-Wave's optimization-oriented systems, IonQ builds universal quantum computers capable of tackling a broader range of problems. It produces four systems: its older Aria system, its flagship Forte system, its data center-oriented Forte Enterprise system, and its upcoming Tempo system. It also provides its quantum computing power as a cloud-based service.
NYSE: IONQ
Key Data Points
Why are D-Wave and IonQ promising investments?
From 2025 to 2027, analysts expect D-Wave's revenue to surge from $26 million to $81 million, while IonQ's revenue is expected to soar from $109 million to $317 million. That expansion should be driven by the growing interest in quantum computing systems for processing AI tasks, optimizing businesses and supply chains, and even mining cryptocurrencies.
D-Wave and IonQ already trade at 98x and 43x their projected 2027 sales, respectively. Those valuations are frothy, but both companies could have plenty of room to grow over the next few decades as the quantum market expands. Both stocks will remain volatile for the foreseeable future, but if you're looking for a speculative play to lock up for a few years, these two early movers in the quantum market deserve a closer look.
