Benchmark Reaffirms Buy on D-Wave Quantum (QBTS), Sees Strength in Technology and Financial Growth

D-Wave Quantum Inc. (NYSE:QBTS) ranks among the best computer hardware stocks to invest in. On August 11, Benchmark maintained its Buy rating and $20 price target for D-Wave Quantum Inc. (NYSE:QBTS), highlighting the company’s strong progress in technology, client acquisition, and financial performance.

D-Wave’s record cash position of over $819 million, according to Benchmark, gives the company a lot of runway to pursue both targeted M&A and organic R&D, putting it in a position to handle high-value computational issues.

The firm believes that Advantage2’s ongoing commercial success will spur reservations in the near future, while D-Wave’s dual-track development of gate-model and annealing systems offers flexibility across complementary quantum computing architectures.

D-Wave Quantum Inc. (NYSE:QBTS) develops and supplies software, services, and equipment for quantum computing. Through its Leap platform, the company also offers cloud access to its hybrid solvers and quantum computers.

While we acknowledge the potential of QBTS to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than QBTS and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.