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Quantum approaches to computing have the potential to boost many industries. Big names in the tech space, such as Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOGL), and International Business Machines Corporation (NYSE:IBM) have invested heavily in quantum computing projects, and academic institutions are also exploring possibilities in the field. The global quantum computing market size is expected to grow at a 25.4% CAGR between 2021 – 2030. The growth is expected to be driven mainly by increasing private investment in quantum computing. In addition, Quantum-as-a-service (QaaS) is gaining traction from its integration with emerging technologies, which should allow businesses to utilize quantum computing resources remotely, further driving greater adoption of the technology.
Given this backdrop, we think quantum computing stocks Applied Materials, Inc. (AMAT), Analog Devices, Inc. (ADI), Ambarella, Inc. (AMBA), and IonQ, Inc. (IONQ) might be quality additions to one’s portfolio.
