Global macro conditions in early 2026 created a difficult backdrop for high-beta, pre-earnings, early-revenue technologies like pure-play quantum computing. However, the last couple of months have seen a sharp recovery, leading to renewed risk appetite toward pure-play quantum stocks.
Against this backdrop, we highlight two such names, D-Wave Quantum QBTS and Rigetti Computing RGTI, whose short-term target prices are rising significantly.
Macro Headwinds and Risk Reset
Escalating geopolitical tensions, particularly the Middle East conflict, pushed energy prices higher, tightened financial conditions and lifted inflation risks, with the IMF projecting global growth to slow to 3.1% in 2026 alongside a temporary uptick in inflation. Rising uncertainty triggered a broad risk-off shift across global markets, with capital rotating out of long-duration, high-risk assets into defensives. In the United States, Federal Reserve commentary highlighted persistent inflation risks and supply-side disruptions tied to geopolitical tensions, reinforcing a higher-for-longer rate outlook and pressuring speculative growth segments.
However, market dynamics began to turn in March-April. Oversold conditions, stabilizing yields and resilient earnings drove a rebound in risk appetite with technology and small-cap growth segments leading gains.
AI-Quantum Convergence Gains Traction
Another key driver behind improving sentiment is the emerging convergence of AI and quantum computing.
IonQ has partnered with Microsoft MSFT and Amazon AMZN to integrate quantum systems into cloud-based AI workflows, enabling hybrid models where classical AI optimizes quantum circuits. Similarly, IBM IBM is leveraging AI to improve quantum error correction and hardware calibration-critical bottlenecks to scalability.
As the first-quarter 2026 earnings reporting season unfolds for quantum stocks in May, improving risk sentiment alongside growing momentum in AI-quantum convergence is rebuilding investor confidence. While macro risks remain, this current momentum suggests a potential rebound, bringing pure-play quantum stocks back into focus for investors.
2 Quantum Stocks to Watch in May With Over 75% Price Target
QBTS: D-Wave’s Strong bookings growth and rising multi-period contracts signal improving enterprise demand and better long-term visibility. A dual-platform roadmap combining annealing leadership with early gate-model access expands monetization optionality, while solid liquidity and capacity support a potential back-half 2026 ramp.
This stock carries a Zacks Rank #3 (Hold). Based on short-term price targets offered by 14 analysts, the average price target of D-Wave represents an increase of 76.5% from the last closing price.
Image Source: Zacks Investment Research
Rigetti: It is another pure-play quantum computing company developing superconducting quantum processors and offering quantum computing services through cloud platforms. With its proprietary Fab-1 facility, modular chiplet design and a clear roadmap toward 100-plus qubit systems, Rigetti shows credible progress on scaling hardware while cutting error rates. Strategic collaborations with Quanta Computer, DARPA and NVIDIA, alongside global partnerships, give it both funding support and strong external validation.
This stock too carries a Zacks Rank #3. Based on short-term price targets offered by 11 analysts, the average price target of RGTI represents an increase of 75.1% from the last closing price. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Image Source: Zacks Investment Research
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
International Business Machines Corporation (IBM) : Free Stock Analysis Report
Rigetti Computing, Inc. (RGTI) : Free Stock Analysis Report
D-Wave Quantum Inc. (QBTS) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
