3 Quantum Stocks that Can Surge as Earnings Loom

Just like the quantum uncertainty concept itself, quantum stocks defy precise prediction, shifting between volatility and speculative promise. The probabilistic nature of quantum computing is one of the key reasons it’s so potentially powerful and disruptive. Because quantum bits, or qubits, can exist in superposition of both 0 and 1 simultaneously, it opens the door to parallel solution-solving beyond classic computers.

At the same time, the lack of determinism makes quantum computing highly speculative because coherent outputs could only happen with quantum error correction (QEC). In mid-July, Nature published a paper titled “Experimental demonstration of logical magic state distillation”, hinting at the first major milestone in making quantum computing sufficiently fault-tolerant to scale for commercial applications.

In early August, multiple companies are scheduled to report their Q2 earnings. Outside of legacy giants such as IBM, Google and Microsoft that are also advancing quantum computing, which companies have the cash and strategy to adopt emerging quantum developments?

IonQ, Inc. (NYSE: IONQ)

To get around the inherently noisy environment that prohibits prolonged qubit coherence, IonQ developed a novel Evaporated Glass Trap (EGT) chip. Combined with other unique approaches on ionized ytterbium (Yb) atoms, which operate at room temperature, eliminating the need for complex supercooling, the company’s systems have already proven to be more scalable and affordable.

IonQ’s aim is not a standalone quantum computer system, but one that integrates with classical computers when such a scenario requires it. This practical hybrid approach, usable in fine-tuning large language models (LLMs), makes quantum useful even before fully fault-tolerant systems.

As such, IonQ’s Forte systems are available on major cloud platforms Microsoft Azure, Google Cloud and Amazon Braket. Mid-July, the company even acquired Capella Space for satellite-based quantum communications.

In Q1 ending March, IonQ reported $697.1 million on cash balance, while suffering $32.3 million net loss with a relatively flat revenue year-over-year at $7.5 million. Against total liabilities of $85 million, the company has $850 million in equity and assets, making for a healthy 10x safeguard.

Year-to-date, IONQ stock is slightly up 0.21%, currently priced at $43.19 against the 52-week average of $27 per share. In early January, IonQ saw its all-time high valuation of $51, following the demonstration of hybrid workflows using Nvidia’s CUDA-Q platform in late 2024.

According to WSJ, IonQ’s average price target is now aligned with the present price level, at $44.17 per share, with a bottom of $30 and a ceiling of $55 per share. Per two analyst inputs from Zacks Investment Research, IonQ has to beat earnings per share (EPS) forecast of negative $0.13 vs the reported negative $0.18 EPS in the year-ago quarter.

IonQ’s Q2 2025 earnings is scheduled for August 6th.

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D-Wave Quantum Inc. (NYSE: QBTS)

D-Wave Quantum is one of our most covered quantum stocks, lastly revisited in late May with the release of the company’s new Advantage2 system. Like IonQ, D-Wave is aiming for hybrid integration but with its unique implementation of quantum annealing in contrast to universal gate-model systems.

Quantum annealing is targeting optimization problems, applicable to logistics, AI, and materials science, rather than hitting the fault-tolerance wall of error-corrections burdening the gate-model. To further that goal with Advantage2’s 4.400+ qubit system, the company even implemented D-Wave Launch software stack to help enterprises integrate quantum advantage, pun intended.

Per the company’s survey conducted with Wakefield Research covering 400 business leaders in the APAC region, 73% of participants expect multi-million return on investment with quantum optimization. As we covered in February, D-Wave was also the first to be integrated into Europe’s pioneering exascale supercomputer JUPITER at Jülich Supercomputing Centre (JSC) in Germany.

In Q1 2025, D-Wave reported $304.3 million cash balance, with a 509% revenue surge year-over-year to $15 million, but with still a net loss of $5.4 million. The company would have to beat an estimated EPS forecast of negative $0.06 in Q2 against the reported negative $0.1 in the year-ago quarter.

Year-to-date, QBTS stock is up 92%, presently priced at $18.47, which is just slightly above WSJ’s average price target of $17.25 per share. The bottom outlook is $12, while the ceiling price target for QBTS stock is $22 per share. Interestingly, all 8 current analysts are in the “buy” camp.

The company’s Q2 2025 earnings are scheduled for August 7th.

Honeywell International Inc. (NASDAQ: HON)

Lastly, for investors looking for safer quantum exposure, Honeywell is a solid choice. As we explained previously covering Lockheed Martin (NYSE: LMT), exposure to the defense sector is an exposure to the U.S. hegemony maintenance, and the status of the world reserve currency itself.

Honeywell is in the same Department of Defense (DoD) contract boat as Lockheed, with major contributions to critical mission systems and avionics. However, Honeywell is also USG’s direct pipeline to quantum exposure. Most recently in July, the company was selected to contribute to the Transition of Quantum Sensing (TQS) program for the U.S. Joint Forces Command.

Alongside CRUISE (Compact Rubidium Unit for Inertial Sensing and Estimation) and QUEST (Quantum Enabled Sensor Technologies for MagNav), these are designed to harness quantum sensors in scenarios where GPS is less reliable.

In early 2024, Honeywell Quantum Solutions merged with Cambridge Quantum to form privately-held Quantinuum at a pre-money valuation of $5 billion. Nonetheless, Honeywell still owns over half of the company even though it operates as a stand-alone entity. Specifically, Quantinuum benefits from Honeywell’s well-honed supply chains while Honeywell takes advantage of trapped-ion quantum computers.

Quantinuum Helios and Apollo, launching in late 2025 and beyond, are the company’s major milestones pushing toward fully fault-tolerant quantum computing by the end of 2030, according to Quantinuum’s hardware roadmap.

And considering that the U.S. is in the process of re-orienting from its proxy war with Russia towards China, HON is not likely to miss out even without its quantum initiatives. WSJ’s forecasting points toward $251.91 average HON price target vs the current price of $225 per share. Most analysts currently recommend holding, 13, while 11 are bullish and none in the sell camp.

On top of Honeywell’s hybrid exposure to U.S. hegemony and quantum computing, investors can also look forward to dividend payouts. Just recently on Friday, the company raised its quarterly dividend to $1.13 per share, making for an annual dividend yield of nearly 2%.

Disclaimer: The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.