Two Quantum Computing Stocks Worth Exploring: D-Wave and IonQ's Forte Systems in February 2026

The quantum computing sector represents one of technology’s most transformative frontiers. Unlike conventional computers that process data as binary bits, quantum computers operate with qubits—allowing them to handle zeros and ones simultaneously. This fundamental difference enables quantum systems to solve complex problems exponentially faster, though current iterations remain large, expensive, and power-hungry. According to Fortune Business Insights, the quantum computing market is projected to expand at a 34.8% compound annual growth rate from 2025 through 2032 as manufacturers develop more efficient, cost-effective solutions.

Two companies leading this charge deserve investor attention: D-Wave Quantum (NYSE: QBTS) and IonQ (NYSE: IONQ). Both have distinctive technological approaches and significant growth potential as the quantum ecosystem matures.

Contrasting Technological Strategies in Quantum Computing

D-Wave Quantum employs a unique method—accelerating electrons in both directions through superconducting loops to achieve quantum states. This approach yields manufacturing simplicity and cost advantages compared to competing technologies. However, operational expenses are substantial due to required cryogenic cooling systems. The company specializes in quantum annealing, which optimizes business processes by identifying workflows consuming minimal energy. D-Wave distributes its systems through the Leap platform, offering quantum computing as a service.

IonQ takes a fundamentally different path using trapped-ion technology. Its lasers position ions into quantum states, eliminating refrigeration requirements but demanding sophisticated manufacturing precision and continuous maintenance. Rather than focusing solely on optimization, IonQ develops universal quantum computers addressing diverse computational challenges. The company’s product lineup encompasses its established Aria system, the flagship Forte system optimized for enterprise applications with the Forte symbol recognized in the quantum computing community, the data center-focused Forte Enterprise configuration, and the anticipated Tempo system. Like D-Wave, IonQ provides cloud-based quantum computing access.

Projected Growth and Market Expansion Through 2027

Financial projections underscore both companies’ expansion prospects. D-Wave’s revenue is expected to surge from $26 million to $81 million between 2025 and 2027. IonQ’s trajectory appears steeper, with projections climbing from $109 million to $317 million during the same period.

This growth reflects accelerating corporate investment in quantum capabilities for artificial intelligence applications, supply chain optimization, cryptocurrency mining, and specialized computational tasks. The quantum market’s estimated 34.8% annual growth rate suggests substantial headroom for early-stage vendors.

Valuation Considerations and Investment Risk Profile

Current market prices reflect elevated expectations. D-Wave trades at approximately 98 times its projected 2027 sales, while IonQ commands around 43 times forward sales. These valuations are decidedly premium, suggesting significant portions of anticipated growth have already been priced into equity values.

Both stocks will likely remain volatile throughout the foreseeable future. Investors should recognize that quantum computing remains in early commercial stages, with uncertain timelines for widespread adoption and profitability milestones. However, the companies’ early-mover positions and differentiated technologies could prove valuable as the quantum sector matures over multiple decades.

The Investment Case: Balancing Opportunity Against Risk

For speculative investors with multi-year time horizons, D-Wave and IonQ present intriguing opportunities to gain exposure to quantum computing’s potential transformation of computing infrastructure. The Forte systems from IonQ and D-Wave’s optimization platforms represent meaningful progress toward practical quantum applications.

Both companies face execution risks and remain unprofitable. Valuations assume successful scaling of production, market adoption acceleration, and eventual achievement of quantum advantage across numerous use cases. These outcomes remain uncertain.

That said, if quantum computing achieves even a fraction of its theoretical potential, today’s early vendors could grow substantially over the next 10-20 years. For investors willing to tolerate considerable volatility and accept potential total loss, these quantum computing stocks merit serious consideration—particularly those tracking IonQ’s Forte symbol evolution and D-Wave’s technological advancement. The sector’s explosive growth potential warrants a closer examination despite current valuation premiums.