/Technology%20abstract%20by%20Joshua%20Sortino%20via%20Unsplash.jpg)
Quantum computing stocks like Rigetti Computing (RGTI) and IonQ (IONQ) have been on a tear in recent months, as investors continue to bet that this futuristic technology will soon redefine Wall Street and the world as we know it.
Largely inspired by the release of Google’s (GOOGL) Willow chip, quantum computing stocks took off at the end of 2024. Willow was able to solve complex mathematical problems in mere minutes, while traditional supercomputers would have needed 10 septillion years. This accomplishment suggested that real-world applications for quantum computing could be available in the short term. Pure-play startups like Rigetti and IonQ have ridden this wave of enthusiasm higher, with RGTI stock up nearly 1,300% in the past three months and IONQ stock up 250% in the same time frame.
Investors in these red-hot names have experienced whiplash lately, thanks to commentary from Nvidia (NVDA) CEO Jensen Huang and Meta Platforms (META) CEO Mark Zuckerberg. Both tech execs said that practical quantum computers were years away, with Huang estimating it could take 15-30 years. This sparked single-day drops of 40%-plus in popular quantum computing stocks.
However, for investors ready to brave more volatility, March 20 holds promise as a key catalyst for quantum computing companies.
On that day, Nvidia will be hosting its first-ever Quantum Day.
Nvidia Hosts Quantum Day
Nvidia announced that on March 20, 2025, it will be hosting its first-ever Quantum Day as part of its GTC 2025, an annual conference for GPU technology. The full conference runs from March 17-21.
The AI leader announced that Quantum Day is a celebration of “the remarkable progress in quantum computing.” Its press release mentioned breakthroughs in things like error correction and quantum hardware.
At the event, Nvidia says attendees can expect discussions on what is currently possible in quantum computing, education on how to use current quantum tools, and an unveiling of Nvidia’s own latest breakthroughs. Huang will be presenting, as will representatives from companies like D-Wave Quantum (QBTS), IonQ and Rigetti.
Investors will likely be eagerly anticipating Nvidia’s quantum computing unveiling, as it could set a new benchmark for development in the space. During CES 2025, Huang told analysts that the company continues to invest in research and development related to quantum and that his company has partnerships with a large number of startups focused on the space.
Quantum Day will likely also be a catalyst for those pure-play quantum computing stocks, particularly those that will get to share the spotlight with Nvidia and its CEO. Investors should keep a close eye on QBTS, RGTI, and IONQ stock leading up to and after March 20.
Should You Buy Quantum Computing Stocks Now?
Following cautious commentary from Huang and then Zuckerberg, quantum computing stocks have pulled back from their 52-week highs. IonQ, which has a consensus “Moderate Buy” rating, is trading near $36, above its average analyst price target of $30.40. However, its Street-high price target of $45 represents 25% upside potential.
Rigetti Computing has a consensus “Strong Buy” rating, although it is also trading above its average analyst price target of $5.20. Its Street-high price target of $12 represents 20% upside potential from here.
And lastly, D-Wave has a “Strong Buy” consensus rating and nearly 50% upside potential to its Street-high price target of $9.
Ahead of the March 20 Quantum Day, investors should closely watch these stocks. With analyst backing and room to run, they could be smart buys for those willing to stomach some risk in the months ahead.
