D-Wave Quantum: Trump's Orders Make This Speculative Buy Worth Watching
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Agar Capital4.85K FollowersFollow5ShareSavePlay(19min)CommentsSummaryD-Wave Quantum Inc. is rated "Buy," but only for small, speculative positions due to high risk and overvaluation.Recent U.S. executive orders have elevated quantum computing to a national security and procurement priority, catalyzing QBTS’s potential government contract opportunities.QBTS’s dual-platform strategy—commercial annealing today, gate-model quantum roadmap for tomorrow—underpins the investment thesis despite negative EPS and FCF.Bookings surged to $33.4M in Q1 2026, but QBTS stock valuation remains steep; my $37 price target implies ~50% upside from current levels. akinbostanci/E+ via Getty Images Executive Summary D-Wave Quantum Inc. (QBTS), as a general rule, is a stock I would typically take on with a great deal of skepticism: negative (EPS), negative (FCF), extremely overvalued, highly volatile, and a business model that is not big enough toThis article was written byAgar Capital4.85K FollowersFollowI’m a Portfolio manager (flexible equity funds and private clients), fundamental equity research, macro and geopolitical strategy.Over 10 years across global markets, managing multi-asset strategies and equity portfolios at a European asset manager.I combine top-down macro, bottom-up stock selection and real-time positioning (Bloomberg, models, data).I focus on earnings, tech disruption, policy shifts and capital flows — to identify mispriced opportunities before the market.On Seeking Alpha I share high-conviction ideas, contrarian views and deep breakdowns of both growth and value names.For more insights: follow me on X @AgarCapitalAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in QBTS over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.