2 Quantum Computing Stocks Poised for Breakthroughs in April

Philip CarterThursday, Apr 17, 2025 8:00 am ET
50min read

The quantum computing revolution is inching closer to reality, with advancements in error correction, qubit scalability, and commercial partnerships reshaping the sector. As of April 2025, two pure-play quantum computing stocks—IonQ (IONQ) and Rigetti Computing (RGTI)—stand out for their technical leadership, growth trajectories, and investor appeal. Here’s why they’re worth considering for long-term portfolios.

1. IonQ (IONQ): The Trapped-Ion Pioneer

Why Buy IONQ?
- Market Leadership: With a market cap of $5.55 billion, IonQ dominates as the largest pure-play quantum firm. Its trapped-ion technology enables qubits with 99.9% gate fidelity, surpassing competitors in accuracy.
- Partnerships & Contracts: Secured a $54.5 million U.S. Air Force contract in 2024 and provides access to its systems via cloud platforms like AWS Braket and Azure Quantum.
- Financial Strength: Q3 2024 revenue surged 103% YoY to $12.4 million, with $365 million in cash reserves after raising FY2024 revenue guidance to $38.5–42.5 million.

IONQ Trend
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Risks: IonQ’s stock remains volatile, down 17% in January 2025 amid broader sector skepticism. However, its acquisition of Qubitekk (enhancing quantum networking) and planned IONQ Tempo system (targeting mid-circuit measurement) reinforce long-term potential. Analysts project FY2025 revenue of $83.45 million, even with a widening net loss.

2. Rigetti Computing (RGTI): The Modular Innovator

Why Buy RGTI?
- Technical Breakthroughs: Launched the Ankaa-3 processor with 99.5% two-qubit gate fidelity, a critical step toward error correction. Plans include a 36-qubit modular system by mid-2025 and a 100+ qubit Lyra system by year-end.
- Strategic Growth: Partnered with NASA and the U.S. Air Force, while a $100 million equity offering in late 2024 bolstered liquidity. Its cloud-based Novera QPU targets enterprise clients.
- Valuation: Despite a 48% Q1 2025 drop, RGTI’s stock has surged 971% over three years, reflecting its aggressive innovation.

RGTI Closing Price

Risks: Rigetti’s $0.28 net loss per share in 2025 and reliance on R&D spending ($59.8 million in 2024) raise concerns. However, its modular design and partnerships position it as a key player in scalable quantum infrastructure.

Sector Dynamics & Investment Considerations

The quantum computing market is projected to grow to $1.88 billion in 2025, rising to $4.89 billion by 2029 (per industry estimates). While challenges like qubit instability and commercialization timelines persist, IonQ and Rigetti are addressing these head-on:
- IonQ leverages trapped-ion stability and cloud partnerships for near-term revenue.
- Rigetti bets on modular scalability and error correction to dominate mid-range quantum applications.

Both stocks are speculative but offer asymmetric upside for investors willing to endure volatility.

Conclusion: A Quantum Leap for Patient Investors

IonQ and Rigetti Computing are the clear leaders in the quantum computing race, combining technical prowess with strategic execution. Key data points underscore their potential:
- IonQ:
- 103% YoY revenue growth in 2024.
- $365 million in cash to fuel R&D.
- Analyst consensus: “Strong Buy” with a $45 price target.
- Rigetti:
- 99.5% gate fidelity in Ankaa-3.
- $15.57 million projected 2025 revenue.
- Analyst consensus: “Moderate Buy” with a $6.10 target.

While risks like sector-wide skepticism (e.g., Nvidia’s 15–20-year timeline comments) remain, both firms are advancing toward milestones—such as error-corrected quantum supremacy—that could redefine industries. For investors with a 5–10 year horizon, these stocks offer a chance to capitalize on one of the 21st century’s most transformative technologies.

Final Note: Monitor catalysts like Rigetti’s Lyra system launch (2025) and IonQ’s Tempo system (2025) for potential price swings. Diversification and patience are key in this high-risk, high-reward space.