Quantum stocks like IonQ and Quantum Computing have a long way to go for meaningful, recurring revenues. Still there values are approaching a possible entry point and with another 25-35% decline I could start with small investments in Quantum Computing QUBT and IonQ (IONQ)
04/05/2026
All of the above have substantially (30 to 40% reduced in price since Nov 2025 when I had last updated this table, which is good, but they still remain High Risk/High Reward stocks.
Quantum stocks all have big obstacle - converting proof of concept to recurring revenue, and meaningful revenues are not expected till 2030, (And that too would be in a mostly optimistic scenario)
IONQ, the largest, is showing some cash and sales strength. IONQ and QUBT have doubled their cash balances, respectively.
Dilution, everyone needs cash for R&D and CapEx. The budgets of big tech companies are much higher, (Google, IBM, etc are all chasing) than the combined revenues of all these pure quantum players. The biggest breakthrough could come from the M-7, which makes it even worse
That said, I would go for the companies with large cash balances or partnerships to effectively scale higher and not run out of cash - everybody is getting Proof Of Concept or lumpy one time revenue payments, a lot of it from government funded research or work passed through cloud service providers.
QUBT - The new CEO has a solid photonics background and with a market cap just above its cash balance, could be a dark horse if photonics technology breaks through. Still this is an unproven high risk approach, as we can see there aren’t any estimates beyond 2027.
IONQ - Acquisitions have already taken it to an expected revenue of $235Mn in 2026, growing at 80%, and 53% in 2027 to $367Mn - as they have the scalability for commercialization, and a strong management team that can make it happen. If I decide to go for Quantum, I could invest a small amount in this one.
QBTS - is getting favorable press from defense players like Anduril and is a likely candidate to go post NISQ - signifying less noisy and less error prone computing, in the company of IBM and Google.
RGTI - No major catalysts reported, it has strong technological chops with decent government contracts.
Nebius' masterly execution as an integrated neocloud player allows it to borrow at very cheap interest rates with very little shareholder dilution.
Nebius is executing brilliantly as an integrated neocloud player with tremendous reach, value addition and strong pricing power.
