10 Best Quantum Computing Stocks To Buy According to Hedge Funds

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1. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 286  

Amazon.com, Inc. (NASDAQ:AMZN) operates as a technology conglomerate with core interests in the ecommerce business. Just like rival Microsoft, the quantum computing efforts of Amazon are led by the cloud division of the firm. Amazon Web Services (AWS) offers quantum computing solutions through the Amazon Braket brand. This brand focuses on providing businesses, researchers, and developers access to quantum computing resources in the cloud. The financial success of Amazon Braket is one of the reasons why the firm features on the list of best quantum computing stocks according to hedge funds.

AWS also collaborates with companies like NVIDIA to improve quantum and classical computing integration, highlighting an official commitment to supporting scalable quantum computing solutions. Braket serves as a platform for testing quantum hardware, developing quantum software, and conducting research using diverse quantum processors, such as those from IonQ, Rigetti, and QuEra​

AWS is the cloud market leader, beating the products of rivals like Microsoft and Google. Quantum computing prowess helped the cloud division of the firm post a revenue of over $27.4 billion in the third quarter this year, an increase of 19% year-on-year. The latest increase also means that AWS has posted year-on-year growth for five consecutive quarters.

While we acknowledge the potential of Amazon.com, Inc. (NASDAQ:AMZN) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than Amazon.com, Inc. (NASDAQ:AMZN) but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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