Quantum computing is emerging as one of the most closely watched technology sectors, with multiple companies racing to bring the technology into commercial reality through competing architectures and strategies.
Unlike traditional computers that process information as ones and zeros, quantum computers use qubits that can represent multiple states simultaneously, enabling them to tackle highly complex calculations far faster than conventional machines.
Grand View Research projects the quantum computing market will expand from approximately $1.9 billion in 2026 to more than $8 billion by 2033, underscoring the scale of commercial opportunity ahead.
Benchmark analyst Gary Mobley, who ranks among the top 4% of Wall Street analysts, has been tracking the sector’s development and says he is encouraged by its long-term trajectory.
“We are bullish on the quantum computing sector,” Mobley noted, adding that “in quantum computing, it is not a ‘winner-takes-all’ situation,” and recommending investors take a diversified portfolio approach to the space.
Mobley covers three publicly traded quantum computing companies and has issued Buy ratings on each, with price targets pointing to upside ranging from 65% to 67% over the next twelve months.
IonQ (NYSE: IONQ), based in College Park, Maryland, builds quantum circuits using trapped ion technology, which taps into the natural quantum states of charged atomic particles to store qubits used as basic units of quantum information.
The company’s latest quantum computer, the Tempo, is a 100-qubit-rated machine designed to be commercially advantage capable and significantly faster than comparable publicly available systems.
IonQ closed a $1.8 billion acquisition of SkyWater, a Pentagon-accredited US-based semiconductor foundry, on July 31, making it the only quantum hardware company with a wholly domestic foundry capability.
In the first quarter of 2026, IonQ reported revenues of $64.7 million, nearly $15 million ahead of expectations and representing year-over-year growth of more than 700%, though the company posted a net loss of $0.34 per share.
Mobley wrote that IonQ “has evolved from a single-product company into a fully integrated quantum solutions provider spanning each major domain of the ecosystem but remains underappreciated,” and that the SkyWater acquisition creates a structural advantage through diversified sector exposure.
He assigns IONQ a Buy rating with a $60 price target, implying approximately 65% upside, while the broader Wall Street consensus is a Strong Buy based on 9 analyst reviews, with an average price target of $69.31 against a current share price of $36.44.
Rigetti Computing (NASDAQ: RGTI), headquartered in Berkeley, California, designs and manufactures superconducting quantum integrated circuits, quantum processor chips, and dilution refrigerators, taking an integrated systems approach to quantum development.
The company’s most advanced system, the Cepheus-1-108Q, features a modular architecture based on 12 interlinked 9-qubit chiplets, delivering triple the qubit count of Rigetti’s previously released large quantum computers.
On July 27, Rigetti announced an expansion of its collaboration with HPE and the Pittsburgh Supercomputing Center to integrate its Novera quantum system with a classical high-performance computer to create a hybrid supercomputing system.
Rigetti reported first-quarter 2026 revenue of $4.4 million, beating forecasts by $272,000 and surging 199% year-over-year, though the company reported a net loss per share of $0.04, in line with expectations.
Mobley called RGTI “one of the most focused pure-play quantum computing chip companies in the public markets,” praising its capital-efficient partner ecosystem spanning AWS, Azure, NVIDIA CUDA Quantum, and Riverlane, among others.
He rates RGTI a Buy with a $25 price target implying 67% upside, while the Wall Street consensus is a Moderate Buy based on 9 reviews, with an average target of $30.71 against a current price of $14.95.
D-Wave Quantum (NYSE: QBTS) is the only company developing both annealing and gate-model quantum computing systems, a dual-platform approach that Mobley says uniquely positions it to address the full addressable quantum computing market.
D-Wave completed a $550 million acquisition of Quantum Circuits, Inc. earlier this year, accelerating its gate-model development, and on July 27 transferred its stock listing from the New York Stock Exchange to Nasdaq while announcing an expanded agreement with AT&T.
The company reported first-quarter 2026 revenue of $2.9 million, missing forecasts, but its bookings surged 2,000% year-over-year to reach $33.4 million, signaling strong future demand pipeline growth.
Mobley stated that “QBTS’ dual-rail gate-model quantum technology, the result of the January 2026 acquisition of Quantum Circuits, changes the game for QBTS and the industry,” and assigned the stock a Buy rating with a $30 price target implying 66% upside.
D-Wave holds a Strong Buy consensus rating from 14 Wall Street analysts, with 13 Buys and 1 Hold, and an average price target of $37.58 against a current share price of $18.05, implying potential upside of 108%.
