The quantum computing industry has had a wild ride in 2025. Despite a pullback this fall, the leading quantum stocks have dominated the broader market this year, and D-Wave Quantum Inc. (NYSE: QBTS) has remained an eye-catching favorite among analysts and investors alike. In the last month alone, analysts at four Wall Street firms have initiated Buy or Outperform ratings for QBTS stock.
Here’s the actionable setup for investors: If you’re looking at 2026 as a potential “real commercialization” year for quantum, D-Wave stands out for its mix of early traction, a long cash runway, and fresh analyst support—but the stock also carries the valuation and execution risk that comes with an industry still proving itself.
