12 Best Quantum Computing Stocks to Invest in Now

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7. FormFactor, Inc. (NASDAQ:FORM)

Number of Hedge Fund Holders: 26

FormFactor, Inc. (NASDAQ:FORM) makes high-performance probe cards, analytical probes, probe stations, thermal, and cryogenic systems for semiconductor and scientific applications. Its products support the full device lifecycle from R&D to high-volume production, enabling customers to improve yield and efficiency. The company operates in two segments—Probe Cards and Systems. It specializes in precision testing technologies, including MEMS-based contact elements, cryogenic instruments, and integrated measurement systems. Continued innovation, strong IP, and strategic acquisitions position them for leadership from lab-scale research to commercial semiconductor manufacturing.

FormFactor, Inc. (NASDAQ:FORM)’s Q1 2025 revenue was $171.4 million, a 1.6% increase year-over-year, however, it saw a 9.6% sequential decline. Its System segment, which is closely tied to quantum computing, saw reduced revenue in Q1 2025, consistent with expectations, but is forecasted to grow moderately in Q2. This growth is being driven by customer innovations in quantum computing and high-performance computing, requiring advanced measurement tools like CM300 and IQ3000 cryogenic probers. A key driver is demand for co-packaged optics (CPO) in data centers, where FormFactor’s systems test photonic integrated circuits (PICs). The company’s early collaborations and installed base of over 100 silicon photonic systems support its leadership in the lab space, now expanding to production. Multiple systems are shipping in Q2 to enable high-volume PIC production, underpinning future growth.

FormFactor, Inc. (NASDAQ:FORM) expects continued strong revenue from its leading HBM (High Bandwidth Memory) customer during the transition from HBM3 to HBM4, with HBM4 sampling underway and additional revenue from second and third HBM customers. The company is also seeing new fab ramps and potential PC refresh cycles. FormFactor is advancing in co-packaged optics and GPU probe card qualifications, leveraging its strength in lab and production testing as test intensity rises with advanced packaging.

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