Forget D-Wave: This Stock Is the Next Quantum Computing Winner

By Chris Neiger – Dec 12, 2025 at 8:00AMKey PointsD-Wave stock has skyrocketed 433% over the past year, but it generates little revenue and is unprofitable.The quantum computing market is frothy right now, and practical usage of the technology is likely still years away. Alphabet has made significant strides in quantum computing and has the financial resources to weather the potentially lengthy timeline toward success. These 10 Stocks Could Mint the Next Wave of Millionaires ›NASDAQ: GOOGLAlphabetMarket Cap$3.8TToday's Changeangle-down(-2.42%) $7.75Current Price$312.46Price as of December 11, 2025 at 3:59 PM ETInvestors are giddy about quantum computing upstarts, but it could be the big tech leaders that experience long-term success from this emerging tech.Quantum computing has risen to the top of many investors' must-have lists over the past few years, driving up the share prices of niche players in this space, including D-Wave Quantum Inc. (QBTS +4.40%). D-Wave's share price has surged by over 433% in the past year alone, although it has recently pulled back as investors have become increasingly concerned about speculative investments. Still, the quantum computing market appears very frothy right now, and the timeline for widespread real-world applications of quantum computing seems lengthy. Here's why investors should avoid D-Wave right now and opt for picking up shares of tech leader Alphabet (GOOGL 2.42%) (GOOG 2.27%) instead. Image source: Getty Images. Why you should forget about D-Wave right now Let's start with quantum computing's long path toward practicality. Many experts, including those from some quantum computing companies such as Alphabet, believe it will be many years, and possibly even a decade, before real-world use cases for quantum computing emerge. That's particularly troubling for quantum computing pure plays like D-Wave. The company had just $3.7 million in sales in the third quarter, while its net loss widened from $0.11 per share to $0.41 per share. With such minimal sales and widening losses amid a potentially long runway before quantum computing takes off, investors are taking a big bet on the company.Advertisement What's more, D-Wave's shares currently have a very high price-to-sales ratio of 325 -- compared to the average P/S ratio of 9 for the tech sector -- making the company's stock priced for perfection. If it doesn't deliver sales and eventually earnings at a breakneck pace, investors could quickly lose interest and abandon this stock. Why Alphabet is a better quantum computing play It surprises me that we currently hear so much about a potential AI bubble, but far less so about a quantum computing bubble. After all, many AI companies have lots of revenue and earnings to back up their share price gains. That's why I think it's worth zooming out and viewing the big picture with quantum computing, focusing on companies that are already tech leaders and doing significant things in the space, such as Alphabet. ExpandNASDAQ: GOOGLAlphabetToday's Change(-2.42%) $-7.75Current Price$312.46Key Data PointsMarket Cap$3770BDay's Range$308.61 - $321.1252wk Range$140.53 - $328.83Volume5.8KAvg Vol37MGross Margin59.18%Dividend Yield0.27% The company released a quantum computing processor, called Willow, last year, that it says "paves the way for a useful, large-scale quantum computer" and was a breakthrough in error correction. The company also recently created what it calls a "Quantum Echoes" algorithm, which ran 13,000 times faster than the world's most powerful supercomputer. The advantage Alphabet has over D-Wave and other pure-play quantum computing players is that it had $2.87 per share in earnings, $102 billion in revenue, and $24.4 billion in free cash flow in its third quarter. In short, it's massively profitable and has the cash resources to invest in new areas of growth like quantum computing for years to come. If quantum computing takes off in the near future, Alphabet's current developments will help the company tap into it. However, if the timeline extends over many years or even a decade, Alphabet will benefit from its lead in artificial intelligence, advertising, and software in the meantime.About the AuthorChris Neiger has been a contributing Motley Fool technology and automotive analyst since 2012.

Before The Motley Fool, Chris was an automotive journalist for the BBC. He holds a master’s degree in journalism from Regent University and a bachelor’s degree from the University of Delaware.TMFNewsieRead NextDec 12, 2025 •By Keithen Drury2 Magnificent Artificial Intelligence Stocks to Buy in 2026Dec 11, 2025 •By Adam SpataccoDid Alphabet Just Say "Checkmate" to Nvidia?Dec 11, 2025 •By Courtney Carlsen3 Growth Stocks to Invest $1,000 in Right NowDec 11, 2025 •By Patrick SandersThe Best Warren Buffett Stocks to Buy With $10,000 Right NowDec 10, 2025 •By Courtney CarlsenThis Growth Stock Continues to Crush the MarketDec 10, 2025 •By Chris NeigerMove Over Lumentum Holdings, Alphabet Is a Better AI Play