Friday March 7, 2026 — Special Edition Part 12/12 (FINAL)

Blood in the Streets: Quantum Computing

5 pure quantum plays + 5 quantum-adjacent profitable enablers. The quantum revolution is here — but only for those who can stomach the volatility.

Blood in the Streets Quantum Computing EXTREME RISK #1-5 Enablers #6-10 Part 12/12
BLOOD IN THE STREETS — QUANTUM COMPUTING EDITION
Blood in the Streets
1Top Picks2Micro/Nano3Large/Mega4Europe5Crypto6Scarcity7AI8SaaS9Fintech10Cyber11China12Quantum
12/12
Overview Pure Quantum Enablers Summary Formation Disclaimer

EXTREME RISK WARNING — PICKS #1-5

Picks #1 through #5 are pure-play quantum computing stocks. They are pre-revenue or near-zero-revenue companies with massive cash burn, extreme short interest, and no proven path to profitability. These are lottery tickets, not investments.

0 of 5 profitable Avg DD: -67% Avg Short: 18.7% Max position: 0.5%

Picks #6-10 are quantum-adjacent enablers — profitable companies with real revenue, real earnings, and quantum exposure. These carry MEDIUM to LOW risk and can be sized at 1-3% of portfolio.

Quantum Computing Universe — 10 Picks

This watchlist spans the full quantum spectrum: from pre-revenue pure-plays building quantum hardware, to profitable mega-caps developing quantum processors as moonshot projects. The quantum computing market is projected to reach $65B by 2030 (McKinsey), but the path from here to there is paved with volatility.

Avg Drawdown
-42%
All 10 Picks
Pure-Play Risk
EXTREME
#1-5 Pre-Revenue
Enabler Risk
MEDIUM
#6-10 Profitable
Avg Short %
13.5%
Pure: 18.7% / Adj: 8.3%
Mkt Cap Range
$241M–$2T
ARQQ to GOOG
Quantum TAM
$65B
By 2030 (McKinsey)
IONQ
-58%
QBTS
QBTS
-60%
RGTI
RGTI
-71%
QUBT
QUBT
-71%
ARQQ
ARQQ
-75%
IBM
-20%
FORM
-21%
ACLS
-20%
HON
-5%
GOOG
-20%

Pure Quantum Hardware

IONQ (trapped ion), QBTS (annealing), RGTI (superconducting), QUBT (photonic), ARQQ (encryption).

Quantum Enablers

IBM (Heron), FORM (probe cards), ACLS (ion implant), HON (Quantinuum), GOOG (Willow).

Risk Spectrum

From 0 revenue (QUBT) to $340B revenue (GOOG). Size pure-plays at 0.5%, enablers at 1-3%.

Pure Quantum — EXTREME Risk
IONQ
#1 IONQ EXTREME US
IonQ — Trapped Ion Quantum Computing
Quantum Trapped Ion $13.1B Cap
$35.73
-57.8% from 52W High
52WH: $84.64
Revenue$130M
Rev Growth+428%
Gross Margin42%
Market Cap$13.1B
Cash$2.39B
Short %23.0%
Why it crashed: Quantum hype cycle burst. $84 to $36. Massive short interest at 23%. Sector-wide rotation out of speculative tech after AI bubble deflation.

Why it could recover: HIGHEST CONVICTION quantum pure-play. The only quantum company with meaningful revenue ($130M) and staggering growth: from $25M to $130M in one year (+428%). $2.4B cash provides 5+ year runway. Trapped ion technology delivers best-in-class fidelity metrics. Government and enterprise contracts accelerating. If quantum computing has a future, IONQ is the best-positioned to capitalize.
Entry
$33-37
Stop
$25
TP1
$55
TP2
$75
R:R
2.3:1
Outlook: The "least bad" quantum play — actual revenue, actual growth, actual cash. If quantum computing has a future, IONQ is the frontrunner. But 23% short interest means violent moves both ways. Revenue acceleration from $25M to $130M is unprecedented in the quantum space and suggests real commercial traction, not just hype.

Confirmation Signals

  • Revenue continues above $100M/yr pace
  • Government contract wins (DoD, DOE, DARPA)
  • Enterprise adoption accelerates beyond pilots
  • Short squeeze catalyst (SI > 20%)

Invalidation Signals

  • Revenue growth decelerates sharply below 100%
  • Cash burn rate doubles or secondary offering
  • Key customer losses or contract cancellations
  • Break below $25 on volume
QBTS
#2 QBTS EXTREME US
D-Wave Quantum — Quantum Annealing
Quantum Annealing $6.9B Cap
$18.59
-60.2% from 52W High
52WH: $46.75
Revenue$24.6M
Rev Growth+19%
Gross Margin82%
Market Cap$6.9B
Cash$884M
Short %14.7%
Why it crashed: Quantum hype deflation. $47 to $19. Tiny revenue base questioned by bears. Dilution fears as cash burn continues.

Why it could recover: The ONLY commercially available quantum annealing computer. 82% gross margins are exceptional — the best in the quantum space. $884M cash provides multi-year runway. Working with defense, logistics, and enterprise customers on optimization problems that classical computers struggle with. First-mover advantage in quantum-as-a-service model. Advantage2 system represents a genuine technological leap.
Entry
$17-20
Stop
$12
TP1
$30
TP2
$42
R:R
1.9:1
Outlook: High-margin quantum-as-a-service model with real (if tiny) revenue. 82% gross margins suggest strong unit economics once scale arrives. $884M cash is the margin of safety. The key question: can quantum annealing find enough commercial use cases to justify the valuation before the cash runs out?

Confirmation Signals

  • Revenue acceleration above 25% YoY
  • New enterprise contract wins in logistics/finance
  • Advantage2 system delivers measurable performance gains
  • Defense/government procurement contracts

Invalidation Signals

  • Revenue stagnation or decline below $20M
  • Secondary offering dilution at depressed prices
  • Classical computing solves optimization problems faster
  • Break below $12 on volume
RGTI
#3 RGTI EXTREME US
Rigetti Computing — Superconducting Qubits
Quantum Superconducting $5.6B Cap
$17.01
-70.7% from 52W High
52WH: $58.15
Revenue$7M
Rev Growth-18%
Cash$444M
Debt$7M
Market Cap$5.6B
Short %15.7%
Why it crashed: Revenue tiny AND declining (-18%). $58 to $17. Biggest drawdown among pure quantum plays (-71%). Market lost patience with the slowest-growing quantum company.

Why it could recover: Cloud-native superconducting quantum computing. Revenue is indeed tiny and declining — this is the weakest fundamental story in the watchlist. But $444M cash with minimal debt provides 4+ year runway. Ankaa-3 84-qubit processor shows genuine technical progress. Potential acquisition target for a larger tech company wanting to add quantum capabilities. BIGGEST DRAWDOWN — weakest fundamentals.
Entry
$15-18
Stop
$10
TP1
$28
TP2
$45
R:R
1.7:1
Outlook: The weakest fundamental story in the pure-play group. Declining revenue at $7M is a red flag. The thesis is entirely cash runway ($444M), technical progress (Ankaa-3), and acquisition optionality. If a big tech company acquires Rigetti, you get a premium. If not, you are holding a cash-burning machine. Do not oversize.

Confirmation Signals

  • Revenue stabilization and return to growth
  • Major partnership or acquisition announcement
  • Ankaa-3 performance benchmarks beat expectations
  • Cloud platform adoption metrics improve

Invalidation Signals

  • Revenue continues declining below $5M
  • Cash burn rate accelerates beyond $120M/yr
  • Key talent departures to competitors
  • Break below $10 on heavy volume
QUBT
#4 QUBT EXTREME US
Quantum Computing Inc — Photonic Quantum
Quantum Photonic $1.7B Cap
$7.60
-70.6% from 52W High
52WH: $25.84
Revenue$0 (Pre-Rev)
Rev GrowthN/A
Gross MarginN/A
Market Cap$1.7B
ProfitabilityNone
Short %30.0%
Why it crashed: Pre-revenue photonic quantum company with 30% short interest. $26 to $7.60. Market punished zero-revenue quantum stocks hardest. Dilution fears and execution skepticism.

Why it could recover: Photonic quantum computing is a differentiated approach — uses photons instead of atoms or electrons, potentially operating at room temperature (no cryogenics needed). This is the most speculative pick in the pure-play group. The 30% short interest creates violent squeeze potential on any positive catalyst. EXTREME speculative — smallest cap, no revenue, highest short among pure plays.
Entry
$7-9
Stop
$4.50
TP1
$14
TP2
$22
R:R
2.1:1
Outlook: Maximum speculation. Zero revenue, $1.7B market cap, 30% short interest. The photonic approach is theoretically elegant (room-temperature quantum computing) but commercially unproven. This is a binary outcome: either photonic quantum works and you get 3-5x, or it does not and you lose most of your capital. Size at 0.25% maximum.

Confirmation Signals

  • First commercial revenue from any quantum product
  • Technical milestone in photonic qubit coherence
  • Strategic partnership with major cloud provider
  • Short squeeze catalyst (SI at 30%)

Invalidation Signals

  • Secondary offering at depressed prices
  • Photonic approach proves unscalable
  • Cash runway drops below 18 months
  • Break below $4.50 on volume
ARQQ
#5 ARQQ EXTREME US
Arqit Quantum — Post-Quantum Cybersecurity
Quantum Encryption $241M Cap
$15.41
-75.1% from 52W High
52WH: $62.00
RevenueMinimal
Rev GrowthN/A
Market Cap$241M
FocusQuantum Encryption
ProfitabilityNone
Short %10.0%
Why it crashed: Deepest drawdown in the watchlist at -75%. $62 to $15. Quantum encryption is a real need but Arqit has struggled to convert the thesis into commercial revenue. Smallest market cap ($241M).

Why it could recover: Post-quantum cybersecurity is one of the most urgent applications of quantum technology. When quantum computers can break current encryption (RSA, ECC), every government, bank, and corporation will need quantum-safe encryption. Arqit’s QuantumCloud platform addresses this exact market. The timing risk is the gap between “quantum threat” awareness and actual commercial demand. Smallest cap, deepest DD, but addresses the most urgent quantum use case.
Entry
$14-17
Stop
$9
TP1
$28
TP2
$45
R:R
2.0:1
Outlook: The most niche play in the watchlist. Post-quantum encryption will be essential — the question is whether Arqit will be the company that delivers it, or whether larger cybersecurity firms (Palo Alto, CrowdStrike, Fortinet) will build their own solutions. At $241M market cap, this is effectively a micro-cap speculation. Position accordingly.

Confirmation Signals

  • Government contract for quantum-safe encryption
  • NIST post-quantum standard adoption creates demand
  • Revenue ramp from QuantumCloud platform
  • Partnership with major defense/cybersecurity firm

Invalidation Signals

  • Larger cybersecurity firms build in-house solutions
  • Cash runway drops below 12 months
  • Failed to win any meaningful contracts
  • Break below $9 on volume
Quantum-Adjacent Enablers

LOWER RISK — PROFITABLE COMPANIES

Picks #6-10 are profitable companies with real revenue, real earnings, and meaningful quantum exposure. These are not lottery tickets — they are established businesses with quantum optionality built in.

5 of 5 profitable Combined Rev: $446B Avg DD: -17% Position size: 1-3%

#6 IBM LOW US Enabler
International Business Machines — IBM Quantum (Heron/Condor)
Quantum Enterprise Tech Dividend
$258.85
-20.3% from 52W High
52WH: $324.90
Revenue$67.7B
P/E23.3x
Div Yield2.6%
QuantumHeron / Condor
Qubit Roadmap1,000+ qubits
Short %2.3%
Why it pulled back: Broader tech rotation from highs. $325 to $259. General risk-off sentiment, not IBM-specific. Modest -20% drawdown compared to pure plays.

Why it could recover: The SAFEST quantum play in existence. IBM Quantum has the most advanced quantum roadmap: Heron processor (133 qubits with error mitigation), Condor (1,121 qubits), and a clear path to 100,000+ qubits. Over 210 organizations use IBM Quantum. The quantum business sits inside a $67.7B revenue, profitable enterprise tech giant with 2.6% dividend yield. You get paid to wait for quantum to mature. IBM is also pivoting its consulting arm toward quantum-enabled solutions. Zero existential risk.
Entry
$250-265
Stop
$225
TP1
$310
TP2
$350
R:R
1.8:1
Outlook: The anchor of any quantum-themed portfolio. You are buying a profitable tech giant at 23x earnings with quantum optionality for free. If quantum computing takes off, IBM is positioned as the enterprise standard. If it takes longer than expected, you still own a profitable business with a 2.6% dividend. Win-win with limited downside.

Confirmation Signals

  • Quantum revenue segment reported separately
  • Enterprise quantum adoption metrics accelerate
  • Condor processor benchmark results impress
  • Consulting revenue uptick from quantum engagements

Invalidation Signals

  • Quantum roadmap delays or deprioritization
  • Consulting revenue stagnation drags overall growth
  • Dividend cut (extremely unlikely)
  • Break below $225 on macro weakness
#7 FORM MEDIUM US Enabler
FormFactor — Quantum Chip Testing Infrastructure
Semis Equipment Probe Cards $6.6B Cap
$85.01
-20.6% from 52W High
52WH: $107.04
Revenue$785M
P/E123x (Fwd 38x)
Gross Margin45%
Market Cap$6.6B
Quantum RoleChip Testing
Short %5.3%
Why it pulled back: Semi equipment sector rotation. $107 to $85. Elevated P/E (123x trailing, 38x forward) made it vulnerable to multiple compression.

Why it could recover: FormFactor makes probe cards critical for testing semiconductor chips — including quantum processors. Every quantum chip IBM, Google, or any startup builds needs to be tested, and FormFactor is the dominant probe card supplier. The company is profitable with $785M revenue and growing. As quantum chip production scales from lab prototypes to commercial volumes, FormFactor’s quantum revenue will scale proportionally. A “picks and shovels” quantum play.
Entry
$82-88
Stop
$70
TP1
$100
TP2
$120
R:R
1.5:1
Outlook: A profitable “picks and shovels” play on quantum computing. Whether IONQ, IBM, Google, or Rigetti wins the quantum race, they all need FormFactor’s probe cards. The 38x forward P/E is rich but reflects growth expectations. Low short interest (5.3%) suggests less bearish consensus than pure plays.

Confirmation Signals

  • Quantum-specific revenue segment grows above 10% of total
  • New probe card wins from quantum hardware makers
  • Earnings beat and guidance raise on forward P/E
  • Semi capex cycle recovery lifts all boats

Invalidation Signals

  • Semi capex downturn compresses margins
  • Quantum chip testing moves to alternative methods
  • Revenue growth stalls and P/E compresses
  • Break below $70 on earnings miss
#8 ACLS MEDIUM US Enabler
Axcelis Technologies — Ion Implantation for Quantum Fab
Semis Equipment Ion Implant $2.5B Cap
$82.24
-20.1% from 52W High
52WH: $102.93
Revenue$839M
P/E21.6x
Market Cap$2.5B
Quantum RoleChip Fabrication
ProfitabilityYes
Short %24.0%
Why it pulled back: Semi equipment cyclicality and 24% short interest weighing on shares. $103 to $82. The high short interest is the KEY RISK here and makes this the most heavily shorted enabler pick.

Why it could recover: Axcelis makes ion implantation equipment used in semiconductor fabrication — including quantum chip manufacturing. Ion implantation is essential for creating the precise defect structures needed in quantum processors. With $839M revenue and a 21.6x P/E, this is cheap for a semi equipment company. If the semi capex cycle recovers and quantum chip production scales, Axcelis benefits from both secular trends simultaneously. The 24% short interest creates squeeze potential but also reflects genuine cycle concerns.
Entry
$78-85
Stop
$65
TP1
$100
TP2
$120
R:R
1.5:1
Outlook: Cheapest enabler on a P/E basis (21.6x) but carries the highest short interest (24%). This is a semi cycle play with quantum optionality. If the capex cycle turns, shorts cover and you get a squeeze + fundamental recovery. If the cycle extends its downturn, the 24% short interest will weigh on shares. The quantum angle is secondary to the semi cycle thesis.

Confirmation Signals

  • Semi capex recovery and order book growth
  • Short squeeze as cycle turns (24% SI)
  • Quantum fab customers ramp production
  • Earnings beat drives P/E re-rating

Invalidation Signals

  • Extended semi capex downturn persists
  • Revenue guidance cut below $750M
  • Short interest climbs above 30%
  • Break below $65 on cyclical weakness
#9 HON LOW US Enabler
Honeywell — Quantinuum (H-Series Quantum Computer)
Industrial Quantinuum Dividend
$235.29
-5.2% from 52W High
52WH: $248.18
Revenue$37.5B
P/E31.0x
Div Yield2.0%
QuantumQuantinuum (Majority)
H-SeriesWorld’s Most Powerful
Short %1.8%
Why it pulled back: Minor -5% pullback from highs. Shallowest drawdown in the watchlist. Industrial conglomerate with diversified revenue is resilient.

Why it could recover: Honeywell owns a majority stake in Quantinuum, which operates the world’s most powerful quantum computer (H-Series, trapped-ion architecture). Quantinuum is valued at $5B+ and could be spun off or IPO’d, unlocking hidden value for HON shareholders. The parent company has $37.5B revenue, 31x P/E, and a 2.0% dividend yield. Quantinuum represents pure optionality inside a blue-chip industrial. If Quantinuum IPOs, HON shareholders get a free quantum kicker. If it does not, you still own a great industrial conglomerate.
Entry
$228-240
Stop
$210
TP1
$260
TP2
$290
R:R
1.6:1
Outlook: The lowest-risk quantum play in the entire watchlist. Only -5% from highs, 2% dividend yield, 1.8% short interest. Quantinuum is hidden value — if it IPOs at $5-10B valuation, that adds $7-14/share to HON. Even without the quantum kicker, HON is a quality industrial at a reasonable 31x P/E. The only scenario where this loses is a broad industrial recession.

Confirmation Signals

  • Quantinuum IPO or spin-off announcement
  • H-Series quantum computer milestone (error correction)
  • Quantinuum revenue ramp or major contracts
  • Industrial division earnings growth sustains

Invalidation Signals

  • Quantinuum write-down or deprioritization
  • Industrial recession impacts core business
  • Dividend cut (extremely unlikely)
  • Break below $210 on macro weakness
#10 GOOG LOW US Enabler
Alphabet — Google Willow Quantum Chip
Mega-Cap Willow Chip 105 Qubits
$165.00
-20.7% from 52W High
52WH: ~$208
Revenue$340B
P/E~22x
Cash$100B+
QuantumWillow (105 qubits)
MilestoneBelow-Threshold Error Correction
Short %<1%
Why it pulled back: Broader tech selloff from AI-related highs. $208 to $165. Antitrust concerns and advertising growth deceleration contributed to the pullback. Not quantum-specific.

Why it could recover: Google’s Willow quantum chip achieved a historic milestone: below-threshold quantum error correction with 105 qubits. This means adding more qubits actually REDUCES errors instead of increasing them — the holy grail of quantum computing. Google demonstrated that Willow can solve a computation in under 5 minutes that would take the world’s fastest classical supercomputer 10 septillion years. This is a quantum moonshot inside the world’s most profitable advertising company. At ~22x earnings with $340B revenue, you are buying GOOG at a reasonable multiple and getting quantum optionality for free.
Entry
$160-170
Stop
$140
TP1
$195
TP2
$220
R:R
1.7:1
Outlook: You are buying Alphabet — the world’s dominant search and advertising company — at a very reasonable ~22x P/E, and getting quantum computing optionality for free. The Willow chip’s below-threshold error correction is the most important quantum milestone achieved by any company. If Google commercializes quantum computing, the upside is enormous. If it takes longer, you still own one of the best businesses on the planet. Negligible short interest (<1%) reflects near-zero bearish conviction.

Confirmation Signals

  • Willow successor chip scales beyond 200 qubits
  • Google Cloud quantum-as-a-service revenue grows
  • Quantum advantage demonstrated on commercial problem
  • Core ad revenue stabilizes and AI monetization grows

Invalidation Signals

  • Antitrust breakup ruling (extreme but possible)
  • Quantum program deprioritized in favor of AI spending
  • Ad revenue decline accelerates
  • Break below $140 on macro + regulatory pressure

Summary — All 10 Drawdowns

Risk/Reward Scatter

Quantum Technology Comparison

Comparative Analysis — All 10 Picks

Ticker Price DD Revenue P/E Short % Quantum Role Risk
IONQ $35.73 -58% $130M N/A 23.0% Trapped Ion HW EXTREME
QBTS $18.59 -60% $24.6M N/A 14.7% Quantum Annealing EXTREME
RGTI $17.01 -71% $7M N/A 15.7% Superconducting EXTREME
QUBT $7.60 -71% $0 N/A 30.0% Photonic EXTREME
ARQQ $15.41 -75% Minimal N/A 10.0% Encryption EXTREME
IBM $258.85 -20% $67.7B 23.3x 2.3% Heron / Condor LOW
FORM $85.01 -21% $785M 38x fwd 5.3% Probe Cards MEDIUM
ACLS $82.24 -20% $839M 21.6x 24.0% Ion Implantation MEDIUM
HON $235.29 -5% $37.5B 31.0x 1.8% Quantinuum LOW
GOOG $165.00 -21% $340B ~22x <1% Willow Chip LOW

Key Takeaway

The quantum computing universe presents a rare opportunity to build a barbell portfolio: small speculative positions in pure-play quantum startups (#1-5, sized at 0.25-0.5% each) paired with larger positions in profitable quantum-adjacent enablers (#6-10, sized at 1-3% each). This approach limits your max loss on the speculative side while capturing the full upside if quantum computing delivers on its promise.

Understanding Quantum Computing

Quantum computing harnesses the principles of quantum mechanics to process information in fundamentally different ways from classical computers. Here is what you need to know as an investor.

Qubits vs Bits

Classical computers use bits (0 or 1). Quantum computers use qubits, which can exist in a superposition of 0 and 1 simultaneously. This means a quantum computer with N qubits can explore 2^N states at once. A 300-qubit quantum computer can represent more states than there are atoms in the observable universe. This is the source of quantum computing’s theoretical power advantage.

Superposition & Entanglement

Superposition allows each qubit to be in multiple states simultaneously. Entanglement links qubits so that the state of one instantly affects the state of another, regardless of distance. Together, these phenomena allow quantum computers to process vast amounts of information in parallel. When you “measure” a qubit, superposition collapses to a definite state — the art of quantum computing is designing algorithms that make the correct answer the most probable outcome when measurement occurs.

Quantum Advantage — Where It Matters

Quantum computers will not replace your laptop. They excel at specific problem types: optimization (logistics, portfolio allocation), simulation (drug discovery, materials science), cryptography (breaking/making encryption), and machine learning (training certain models). Google’s Willow chip demonstrated “quantum advantage” — solving a problem in 5 minutes that would take classical supercomputers 10 septillion years. The investor question is: when does quantum advantage apply to commercially valuable problems?

The Error Correction Challenge

Qubits are fragile — they lose their quantum state (decohere) due to noise, temperature, and electromagnetic interference. Error correction is the biggest technical challenge. Google’s Willow achieved “below-threshold” error correction, meaning adding more qubits reduces errors rather than increasing them. This was the key technical breakthrough investors should watch. Companies like IONQ, IBM, and Honeywell (Quantinuum) are all racing to achieve fault-tolerant quantum computing.

Different Approaches — A Technology Horse Race

The quantum hardware landscape is a multi-approach horse race: Trapped Ions (IONQ, Quantinuum/HON) offer highest fidelity but slower gate speeds. Superconducting (RGTI, IBM, GOOG) offers faster gates but shorter coherence times. Quantum Annealing (QBTS) specializes in optimization problems. Photonic (QUBT) uses photons for potential room-temperature operation. No single approach has won yet — diversification across approaches is prudent for investors.

Why It Matters for Markets

McKinsey estimates the quantum computing market at $65B by 2030 and potentially $850B by 2040. The financial sector alone could save $2-5B annually through quantum-optimized portfolio construction, risk modeling, and fraud detection. Drug discovery timelines could shrink from 10+ years to 2-3 years. Materials science breakthroughs could transform batteries, superconductors, and catalysts. The quantum revolution is not a question of “if” but “when” — and the current drawdowns may represent the best entry point in a generation.

Portfolio Construction — Barbell Approach

Conservative (5% total)

  • GOOG (2%) — Mega-cap, Willow optionality
  • IBM (1.5%) — Quantum leader, 2.6% yield
  • HON (1%) — Quantinuum hidden value
  • IONQ (0.5%) — Single pure-play bet

Balanced (8% total)

  • GOOG (2%) — Willow moonshot
  • IBM (1.5%) — Enterprise quantum
  • HON (1%) — Quantinuum spin-off
  • FORM (1%) — Picks & shovels
  • ACLS (0.5%) — Cheap semi enabler
  • IONQ (0.5%) — Best pure-play
  • QBTS (0.5%) — 82% margins
  • RGTI (0.5%) — M&A target

Aggressive (10% total)

  • GOOG (2%) — Anchor position
  • IBM (1%) — Quantum roadmap
  • HON (1%) — Quantinuum
  • FORM (1%) — Testing enabler
  • ACLS (0.5%) — Squeeze + cycle
  • IONQ (0.5%) — Revenue leader
  • QBTS (0.5%) — Best margins
  • RGTI (0.5%) — Deepest DD
  • QUBT (0.25%) — Photonic lottery
  • ARQQ (0.25%) — Encryption niche

Disclaimer

This publication is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or solicitation to buy or sell any security. All investments involve risk, including the possible loss of principal.

EXTREME RISK WARNING (Picks #1-5): The pure-play quantum stocks in this watchlist are pre-revenue or near-zero-revenue speculative companies. You can lose 100% of your investment on any of these names. Never invest more than you can afford to lose entirely. Maximum position size: 0.5% of portfolio for pure plays, 0.25% for QUBT and ARQQ.

MEDIUM RISK (Picks #6-10): The quantum-adjacent enablers are profitable companies with real revenue but may underperform in a prolonged tech downturn. ACLS carries elevated short interest (24%) that amplifies volatility.

Past performance does not guarantee future results. The authors may hold positions in securities mentioned. Always conduct your own due diligence and consult a licensed financial advisor before making investment decisions.

Data sourced from MarketWatch Gateway, Yahoo Finance, SEC filings, and company reports. All data as of March 7, 2026.

Blood in the Streets
1Top Picks2Micro/Nano3Large/Mega4Europe5Crypto6Scarcity7AI8SaaS9Fintech10Cyber11China12Quantum
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