QBTS

The sharp pullback in D-Wave Quantum QBTS this month has shifted investor attention from the quantum computing sector's long-term promise to its near-term execution risks. After delivering substantial gains earlier this year, the stock has fallen 29.4% month to date, underperforming the Computer and Technology sector's 1.4% decline and the S&P 500's 1.2% gain.

Quantum Computing stocks QBTS, RGTI, IONQ, QUBT and QNT lagged in 2026 but carry sizable brokerage upside as U.S. policy shifts toward commercialization.

D-Wave Quantum Inc. has typically been known for annealing, a unique approach best suited to helping customers solve optimization problems. That sets it apart from other quantum firms. Citing Boston Consulting Group, QBTS says this will amount to $100-$220 billion out of an $800+ billion total quantum market. That sounds like more than a mere "niche." Also, QBTS is going big into the “gate model,” the approach used by the other quantum firms. That will let it compete for the entire quantum market.

QBTS raises its system sales outlook after record bookings and surging demand, with bigger deals and recurring revenue expected to support growth.

Despite its status as the largest pure-play quantum computing firm by market capitalization, IonQ Inc. NYSE: IONQ has proven not to be the most stable bet in recent weeks. Shares have fallen about 35% in the last month, and despite a strong Q1 2026 in many respects, the firm's losses per share are widening.

Quantum computing stocks are the sharpest casualties in Monday morning trading, with the group selling off in unison even though there is no company-specific news driving the move.

QBTS has surged 42.9% in a year as bookings soar and its quantum roadmap expands, but revenue timing could still drive quarterly volatility.

QBTS earns IDC MarketScape Leader recognition as its production deployments, hybrid tools and quantum roadmap gain traction across enterprise use cases.

Pure-play quantum firms like D-Wave Quantum Inc. NYSE: QBTS and Rigetti Computing NASDAQ: RGTI are in the midst of a second major decline this year after a brief rally in May, so the last thing these companies likely want to face is a more crowded field of competitors.

D-Wave Quantum leads in commercial quantum annealing and recently expanded into gate-model systems through an acquisition. Rigetti Computing maintains a vertically integrated approach, designing its own chips and focusing on modular, superconducting architectures.