Should You Buy Quantum Computing Stocks in 2026? - Yahoo Finance

Should You Buy Quantum Computing Stocks in 2026? Brett Schafer, The Motley Fool December 11, 2025 4 min read QBTS -0.51% IONQ +0.94% QUBT +0.96% RGTI -0.19% Key Points The sector is soaring because of a narrative around commercialization and disruption. The technology claims a lot of promises, but has failed to ever commercialize. These stocks are wildly expensive, burning cash, and heavily diluting shareholders. 10 stocks we like better than IonQ › Quantum computing is an investing theme that has delivered massive returns for shareholders. In the last three years, the big four pure-play quantum stocks -- IonQ (NYSE: IONQ), Quantum Computing Inc. (NASDAQ: QUBT), Rigetti Computing (NASDAQ: RGTI), and D-Wave Quantum (NYSE: QBTS) -- have all generated at least 500% cumulative stock returns. Catalyzed by an optimistic tone in the business world around quantum computing technology, these stocks have investors betting on a quantum revolution changing the world. With the stocks dipping from highs set in October of this year, should you buy quantum computing stocks as we get ready to flip the calendar to 2026? The answer is clear if you look at the underlying financials. Building for a quantum future? When business leaders such as Nvidia founder Jensen Huang say quantum computing is reaching an inflection point, you can understand why these pure-play stocks are getting so much hype. Quantum computing uses quantum mechanics to exponentially improve processing power over traditional computers, promising users immense computing capabilities that are limited by even the most advanced computers today. These include technologies such as artificial intelligence (AI). Companies like IonQ have research labs dedicated to commercializing quantum computing, as it could be a game changer for the computing world (and society as a whole). It is building hardware and software for quantum computing projects. However, given that current quantum computers are highly unstable and can generally only operate in extreme cold and extremely clean environments, they are expensive and not reliable for everyday tasks. This has prevented the full commercialization of the technology and has remained a bottleneck for years. Image source: Getty Images. A strong narrative, but lacking fundamentals Telling the story of disrupting the entire computing industry is enticing, which is why a stock like IonQ is up 1,000% in the last three years and has a market cap of $19 billion. But if you actually look at the underlying business, you will be greatly disappointed. Through the first nine months of 2024, IonQ generated $68 million in revenue. That is a tiny fraction of its current market value. On this revenue, it posted an operating loss of $405 million. Just looking at stock-based compensation, the company had over $200 million in share-based employee expenses, or more than 200% of its revenue. Story Continues View Comments Terms and Privacy Policy Privacy Dashboard