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IONQ vs. QBTS: Which Quantum Stock Has More Upside Potential in June?
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Key Takeaways
D-Wave posted nearly 2,000% bookings growth and expects up to three annual system sales.
QBTS analysts see 30.77% upside from current levels versus 9.92% projected for IONQ.
IonQ raised 2026 revenue guidance as demand grows for Tempo systems and quantum platforms.
After a difficult start to 2026, shares of IonQ (IONQ - Free Report) and D-Wave Quantum (QBTS - Free Report) have staged a stunning rebound since April 1, with IONQ soaring 128.9% and QBTS rallying 103.1%, far outperforming the S&P 500’s 14.4% gain. While global macroeconomic concerns persist, the sharp turnaround has been fueled by improving investors' confidence around accelerating commercial traction, rising bookings, expanding quantum AI and optimization use cases, major system-sale momentum and strong technology road maps outlined by both companies.
With quantum stocks back in favor, it is time for investors to assess whether this momentum can extend through June or if it is time to lock in profits. Let’s find out.
Image Source: Zacks Investment Research
IONQ’s Technology Road Map Drive Optimism
In the first quarter, IonQ recorded revenue growth of 755% year over year and raised its full-year revenue guidance to $260-$270 million from its previous outlook of $225-$245 million. The company expanded its remaining performance obligations to $470 million. IONQ registered strong demand for its Tempo systems, early traction for its upcoming 256-qubit platform and growing adoption across pharmaceuticals, logistics, cybersecurity and quantum networking applications. Major partnerships, expanding global deployments and the SkyWater Technology acquisition (completed in May), aimed at scaling manufacturing capabilities, are other driving factors.
Still, the risks are significant. IonQ remains unprofitable, spending aggressively on R&D and expansion while facing execution risks tied to scaling fault-tolerant quantum systems and turning backlog into consistent revenue.
D-Wave's Bookings Surge Fuels Bullish Sentiment for the Near Term
In the first quarter, D-Wave reported bookings growth of nearly 2,000% year over year, while its remaining performance obligations surged 563%. The company is benefiting from growing demand for annealing quantum systems, increasing enterprise adoption and expectations for two to three system sales annually, up from its earlier outlook of one system sale per year. Investor optimism further improved after the company’s acquisition of Quantum Circuits, which expanded D-Wave into gate-model quantum computing alongside its established annealing business.
Still, risks remain. Revenue recognition timing for large system deals could continue creating quarterly volatility, while elevated operating expenses and execution risks tied to scaling both annealing and gate-model platforms remain key concerns.
2026 Estimates
IONQ: The company is expected to record earnings growth of 42.9% in 2026 on revenue growth of 101.9%.
Image Source: Zacks Investment Research
QBTS: The company is expected to record earnings growth of 72.1% in 2026 on revenue growth of 63.3%.
Image Source: Zacks Investment Research
Short Term Price Target Favors QBTS Over IONQ
IONQ: Based on short-term price targets offered by 11 analysts, the average price target of $69.95 represents an increase of 9.92% from the last closing price.
Image Source: Zacks Investment Research
QBTS: Based on short-term price targets offered by 13 analysts, the average price target for D-Wave of $36.38 represents an increase of 30.77% from the last closing price of $27.82.
Image Source: Zacks Investment Research
Which Stock Offers Higher Upside Potential for June?
While both quantum stocks have delivered massive gains since April, D-Wave Quantum appears better positioned for near-term upside in June 2026. QBTS currently carries a Zacks Rank #3 (Hold), supported by bookings growth, rising enterprise adoption and stronger short-term analyst price targets.
Meanwhile, IonQ currently holds a Zacks Rank #4 (Sell). Despite strong long-term growth potential, the stock’s massive rally, elevated valuation and ongoing execution risks could limit additional upside in June. Investors may consider retaining QBTS shares for now, while booking some profits in IONQ after its sharp run-up since April.
View the Zacks #1 Rank List
Image: Bigstock
IONQ vs. QBTS: Which Quantum Stock Has More Upside Potential in June?
Key Takeaways
After a difficult start to 2026, shares of IonQ (IONQ - Free Report) and D-Wave Quantum (QBTS - Free Report) have staged a stunning rebound since April 1, with IONQ soaring 128.9% and QBTS rallying 103.1%, far outperforming the S&P 500’s 14.4% gain. While global macroeconomic concerns persist, the sharp turnaround has been fueled by improving investors' confidence around accelerating commercial traction, rising bookings, expanding quantum AI and optimization use cases, major system-sale momentum and strong technology road maps outlined by both companies.
With quantum stocks back in favor, it is time for investors to assess whether this momentum can extend through June or if it is time to lock in profits. Let’s find out.
Image Source: Zacks Investment Research
IONQ’s Technology Road Map Drive Optimism
In the first quarter, IonQ recorded revenue growth of 755% year over year and raised its full-year revenue guidance to $260-$270 million from its previous outlook of $225-$245 million. The company expanded its remaining performance obligations to $470 million. IONQ registered strong demand for its Tempo systems, early traction for its upcoming 256-qubit platform and growing adoption across pharmaceuticals, logistics, cybersecurity and quantum networking applications. Major partnerships, expanding global deployments and the SkyWater Technology acquisition (completed in May), aimed at scaling manufacturing capabilities, are other driving factors.
Still, the risks are significant. IonQ remains unprofitable, spending aggressively on R&D and expansion while facing execution risks tied to scaling fault-tolerant quantum systems and turning backlog into consistent revenue.
D-Wave's Bookings Surge Fuels Bullish Sentiment for the Near Term
In the first quarter, D-Wave reported bookings growth of nearly 2,000% year over year, while its remaining performance obligations surged 563%. The company is benefiting from growing demand for annealing quantum systems, increasing enterprise adoption and expectations for two to three system sales annually, up from its earlier outlook of one system sale per year. Investor optimism further improved after the company’s acquisition of Quantum Circuits, which expanded D-Wave into gate-model quantum computing alongside its established annealing business.
Still, risks remain. Revenue recognition timing for large system deals could continue creating quarterly volatility, while elevated operating expenses and execution risks tied to scaling both annealing and gate-model platforms remain key concerns.
2026 Estimates
IONQ: The company is expected to record earnings growth of 42.9% in 2026 on revenue growth of 101.9%.
Image Source: Zacks Investment Research
QBTS: The company is expected to record earnings growth of 72.1% in 2026 on revenue growth of 63.3%.
Image Source: Zacks Investment Research
Short Term Price Target Favors QBTS Over IONQ
IONQ: Based on short-term price targets offered by 11 analysts, the average price target of $69.95 represents an increase of 9.92% from the last closing price.
Image Source: Zacks Investment Research
QBTS: Based on short-term price targets offered by 13 analysts, the average price target for D-Wave of $36.38 represents an increase of 30.77% from the last closing price of $27.82.
Image Source: Zacks Investment Research
Which Stock Offers Higher Upside Potential for June?
While both quantum stocks have delivered massive gains since April, D-Wave Quantum appears better positioned for near-term upside in June 2026. QBTS currently carries a Zacks Rank #3 (Hold), supported by bookings growth, rising enterprise adoption and stronger short-term analyst price targets.
Meanwhile, IonQ currently holds a Zacks Rank #4 (Sell). Despite strong long-term growth potential, the stock’s massive rally, elevated valuation and ongoing execution risks could limit additional upside in June. Investors may consider retaining QBTS shares for now, while booking some profits in IONQ after its sharp run-up since April.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.