This article first appeared on GuruFocus.
Quantum computing stocks surged after Wedbush initiated coverage on several names, lifting sentiment across the sector.
IonQ (NYSE:IONQ) climbed about 1.3%, Rigetti Computing (NASDAQ:RGTI) surged roughly 1.5%, and D-Wave Quantum (NYSE:QBTS) jumped around 4.5% on Thursday, following a bullish research note from Wedbush.
Wedbush rated all three companies at Outperform, saying the quantum computing industry appears to be moving closer to broader commercial use. Analyst Antoine Legault pointed to improving hardware performance, rising customer interest, and expanding revenue pipelines as key drivers.
IonQ was highlighted for its trapped-ion technology, which is rooted in decades of academic research. Wedbush said the company’s sales pipeline is building as enterprises and government customers explore real-world applications, supporting expectations for continued revenue growth.
Rigetti was also mentioned as concentrating on superconducting qubits, which are also supported by companies of the caliber of IBM and Alphabet (NASDAQ:GOOGL). Wedbush believes the demand for quantum hardware in the long-run would be of assistance to the firm.
The quantum annealing systems of D-wave hit the market with a bang and Wedbush notes that quantum annealing systems are already being used to solve optimization problems. They anticipate high future bookings and revenue due to the increased number of customers using the tech.
