Quantum computing is often considered the next frontier for the tech industry. Unlike traditional computers, which store their data separately in binary bits of zeros and ones, quantum computers can process those bits simultaneously in qubits. That difference allows them to process a lot more data at a faster rate than traditional binary computers.
However, quantum computers are also bigger, pricier, and consume more power while outputting a higher ratio of errors than traditional computers. But over the long term, quantum processing units (QPUs) should become smaller, cheaper, more power-efficient, and more accurate. When that happens, they should be more widely adopted for machine learning, AI, and other mainstream computing tasks.
Fortune Business Insights expects the quantum computing market to grow at a CAGR of 34.8% from 2024 to 2032 — so its early movers could deliver big multibagger gains for their patient investors. Let’s take a look at three stocks that could benefit from that secular trend.
This post originally appeared at The Motley Fool.