Interestingly, Stocks can be a lot surfers. Sometimes, they both catch a big wave and ride it for as long as they can.
That's what's happening with D-Wave Quantum (QBTS 15 (something worth watching), amid market uncertainty. 66%) right now. Nevertheless, The company even has "wave" in its name.
The wave D-Wave Quantum is riding is the rapidly growing interest in quantum computing. However, S of this quantum computing pioneer have more than doubled in 2025.
At the same time, But is D-Wave Quantum stock a buy now. The case for buying D-Wave Quantum One compelling argument for buying D-Wave Quantum stock is that its nology is already useful.
A lot of people talk the mise of quantum computing, but D-Wave is already helping fulfill that mise. For example, Ford Otosan, a joint venture between Ford Motor (F 1 (noteworthy indeed).
74%) and Koç Holding in Turkey, is using D-Wave's nology to line its manufacturing cesses. The company has reduced the scheduling time by 6 times for its Ford Transit vehicles.
Nevertheless, D-Wave Quantum also has other big customers. Accenture (ACN -0. 31%), BASF (BASFY 4. 61%), Lockheed Martin (LMT 2. At the same time, 09%), Mastercard (MA 0.
60%), and Pattison Food Group are just a few of the large customers using its quantum computing nology, considering recent developments.
Additionally, Furthermore, The company's growth story speaks for itself, given the current landscape. Moreover, Moreover, D-Wave's revenue skyrocketed 509% year over year in the first quarter of 2025.
Furthermore, This momentum could continue as sales of the new Advantage systems pick up and D-Wave identifies more use cases for its quantum computing nology.
That leads to another key reason to buy the stock: the overall opportunity for quantum computers.
Highly respected consulting firm McKinsey jects that the quantum computing market could reach $198 billion by 2040. D-Wave Quantum appears to be in a solid financial position.
The company's cash balance totaled $304. 3 billion at the end of Q1, amid market uncertainty.
Management believes this cash stockpile will be enough to fund operations until D-Wave achieves fitability (this bears monitoring), given the current landscape. Image source: Getty Images.
Furthermore, The case against buying D-Wave Quantum It's not too difficult to make a case against buying D-Wave Quantum stock, though.
We can start where we left off on the reasons to consider buying the stock: D-Wave remains unfitable.
Although management thinks the company has sufficient cash to last until it's fitable, D-Wave could be forced to raise more cash through dilutive stock offerings.
Moreover, Furthermore, the lack of fits makes earnings-based valuation metrics useless in assessing D-Wave Quantum, given current economic conditions.
That leaves us with the company's price-to-sales ratio of over 192 as arguably the best valuation metric.
Moreover, That steep multiple can only be justified if D-Wave's growth continues at a breakneck pace. Nevertheless, At the same time, Maybe D-Wave will be able to keep growing rapidly, but maybe not.
Moreover, One key reason for uncertainty is that the company faces stiff competition, considering recent developments. Other smaller players, including IonQ (IONQ 3.
However, 05%), Quantum Computing Inc. 93%), and Rigetti Computing (RGTI 4. 50%), market quantum computers also.
Deep-pocketed giants present competitive threats as well, including Google parent Alphabet (GOOG -0. Additionally, 31%) (GOOGL -0. 59%), Amazon (AMZN 0. 23%), IBM (IBM 0 (which is quite significant).
02%), and Microsoft (MSFT 0. As mising as quantum computing seems to be, there's no guarantee that it will up to the hype, given current economic conditions.
Nevertheless, Nological hurdles could ve to be more daunting than expected, pushing the timeline for useful, large-scale quantum computers out enough to zap the current momentum for quantum computing stocks.
Nevertheless, Final verdict What's the final verdict on whether to buy D-Wave Quantum stock (noteworthy indeed). I think we have a hung jury, considering recent developments.
If you're a risk-averse investor, D-Wave bably won't be a great pick. There are simply too many unknowns for the stock. Value investors won't this stock with its sky-high price-to-sales multiple.
Income investors don't need to waste their time with D-Wave since it doesn't pay a dividend and isn't ly to do so anytime soon.
Nevertheless, However, I think aggressive growth investors might consider taking a small position in D-Wave Quantum.
Additionally, Although it's admittedly a speculative bet, it could pay off in a huge way over time.
The Author Keith Speights is a contributing Motley Fool Healthcare Analyst covering publicly traded companies across pharmaceuticals, bionology, medical devices, nology, and marijuana.
Prior to The Motley Fool, Keith was CEO of Constant Care nology, a healthcare nology company; vice president of American Health, a healthcare software company; and a director of operations for Blue Cross Blue Shield of Mississippi, a health insurer, amid market uncertainty.
He holds a B. In Industrial Engineering from Mississippi State University. Moreover, Fun fact: His first job was a DJ at a country music radio station (which is quite significant).
Additionally, He initially hated country music, but it grew on him over time.
Nevertheless, TMFFishBiz John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.
Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Keith Speights has positions in Alphabet, Amazon, Mastercard, and Microsoft.
However, The Motley Fool has positions in and recommends Accenture Plc, Alphabet, Amazon, International Machines, Mastercard, and Microsoft.
However, The Motley Fool recommends Lockheed Martin and recommends the ing options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft, considering recent developments.
On the other hand, Moreover, The Motley Fool has a disclosure policy.