Quantum-computing stocks endured a difficult June as persistent inflation, a higher-for-longer interest-rate environment and investor anxiety following the latest debate surrounding Microsoft's Majorana research weighed heavily on speculative growth names. Against this backdrop, IonQ IONQ declined 28.8% in June, while Quantum Computing Inc. QUBT or QCi fell 25.9%, creating an attractive entry point for investors seeking exposure to the next rally in quantum.

IonQ's Leadership Remains Intact

There is little debate that IonQ remains the industry's commercial leader. The company is gaining momentum backed by a rapidly expanding global customer base and one of the most comprehensive quantum platforms in the industry. During the last-reported first quarter of 2026, revenues surged 755% year over year. Remaining performance obligations climbed to $470 million and the company raised its 2026 revenue outlook to $260-$270 million.

IonQ also continued expanding its hardware, networking and quantum security businesses while advancing its 256-qubit roadmap toward fault-tolerant computing.

Why QUBT May Offer Greater Near-Term Upside

That said, bigger near-term upside may lie with QUBT, whose transformation is prominent. Although considerably smaller than IonQ, the company is evolving from a research-driven developer into a vertically integrated quantum hardware and photonics manufacturer. Its acquisitions of Luminar Semiconductor and NuCrypt significantly expanded its manufacturing capabilities, photonics expertise and quantum communications portfolio, while management continues to advance its room-temperature photonic quantum architecture and larger Fab 2 manufacturing strategy.

The company, during the first quarter, showed improving commercial momentum. Revenues increased to $3.7 million, supported by acquisitions. QUBT ended the quarter with $1.4 billion in cash and investments and a $16 million contract backlog. More importantly, management emphasized growing customer engagement, expanding fabrication capabilities and converting an increasing pipeline of commercial and government opportunities into recurring revenues.

Estimate Revisions Tilt in QUBT's Favor

Over the past 60 days, QUBT has witnessed upward revisions in earnings estimates for 2026 and 2027, with no downward revisions. The Zacks Consensus Estimate has improved meaningfully during this period, as shown in the chart below.

In contrast, IonQ has experienced a series of downward estimate revisions for 2026 and 2027, with loss per share estimates widening over the past two months despite its strong revenue growth and industry-leading market position.

QUBT Holds the Technical Edge

The technical picture also appears to favor QUBT in the near term. While both stocks have corrected sharply in June, IonQ has slipped below its 50-day simple moving average (SMA), reflecting weakening short-term momentum despite remaining above its upward-sloping 200-day SMA.

IONQ 50-and-200-Day SMAs

In contrast, QUBT is consolidating around its key moving averages, with the 50-day SMA trending higher and approaching the 200-day SMA after a steady recovery from its April lows.

QUBT-50 and 200-Day SMAs

Our Take

IonQ remains the long-term leader in commercial quantum computing, but weakening estimate revisions and softer technical momentum could limit its near-term upside. Meanwhile, QUBT is benefiting from accelerating commercialization, strategic acquisitions, improving earnings outlook and a stronger technical setup. Reflecting these contrasting trends, IonQ carries a Zacks Rank #4 (Sell), making profit booking prudent. QUBT's Zacks Rank #2 (Buy), in contrast, suggests it offers the more attractive upside opportunity for July and beyond. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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