IONQ or QBTS: Which Quantum Stock Should You Hold After 2026 Sell-Off? - Zacks Investment Research
🤖 IonQ targets a major milestone with an operational 256-qubit system expected in late 2026 to advance fault-tolerant quantum computing.
💻 IonQ plans to acquire SkyWater Technology by mid-2026 to achieve vertical integration and secure semiconductor manufacturing capabilities.
📊 IonQ projects 2026 revenues between $225M and $245M driven by commercial customers, government contracts, and international expansion.
🔹 D-Wave is executing a dual-platform strategy combining annealing systems for optimization with gate-model quantum computing following the Quantum Circuits acquisition.
💰 D-Wave expects to introduce initial gate-model systems in 2026 while continuing to sell annealing systems for enterprise applications.
📈 Both companies are reporting growing bookings, enterprise deals, and government partnerships despite industry skepticism about commercialization timelines.
🔽 Analysts note both companies face risks from macro headwinds, competition from large tech firms, and potential funding volatility.
⚖️ D-Wave's dual-architecture strategy introduces technological and integration risk while the company continues to report losses.
💸 D-Wave relies heavily on system sales and bookings conversion, which may create revenue volatility due to long recognition cycles.
📉 Zacks Investment Research assigns IonQ a Zacks Rank #3 (Hold) and D-Wave a Zacks Rank #5 (Strong Sell).
🤵 IonQ's risk-reward profile currently appears more favorable than D-Wave's for investors considering holding or accumulating shares.
⚠️ Investors may consider booking profits or reducing exposure in D-Wave until its execution and revenue visibility improve later in 2026.
🔮 Analysts predict that hardware launches, bookings conversion, and platform integration will likely determine stock performance in the rest of 2026.
- IonQ targets a 256-qubit system for late 2026, marking a key milestone toward fault-tolerant quantum computing.
- IonQ plans to acquire SkyWater Technology by mid-2026, which will provide semiconductor manufacturing capabilities and accelerate its chip scaling timeline.
- IonQ guides 2026 revenues between $225M–$245M supported by commercial customers, government contracts, and international expansion.
- D-Wave completed the acquisition of Quantum Circuits in January 2026, adding error-corrected gate-model quantum computing to its existing annealing systems.
- D-Wave plans to introduce initial gate-model systems in 2026 while continuing to sell annealing systems for optimization workloads and enterprise applications.
- Both IonQ and D-Wave are reporting growing bookings, enterprise deals, and government partnerships that indicate revenue growth potential.
- D-Wave expects revenues to ramp more in the second half of 2026 due to system installations and service contracts.
- D-Wave holds a Zacks Rank #5 (Strong Sell), indicating significant negative analyst sentiment and higher downside risk compared to IonQ.
- D-Wave remains in a state of losses, which suggests ongoing financial weakness and an inability to yet generate sustained profitability.
- The company's heavy reliance on system sales creates revenue volatility due to long revenue recognition cycles, delaying cash flow visibility.
- Acquiring Quantum Circuits adds technological and integration risk, potentially distracting management from core operations or leading to overvaluation.
- Both companies face commercialization uncertainty, meaning their future earnings depend heavily on meeting aggressive timelines that could be missed.
- Competition from large tech firms poses a significant threat, as these giants may have superior resources to scale quantum capabilities faster than niche players.
- Macro-driven tech sector volatility could negatively impact funding availability and investor sentiment, increasing the risk of share price decline.
