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.

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