Quantum computing is an exciting yet complex space with much promise. Recent projections estimate the global quantum computing market will grow to$7.6 billionin 2027. This forecast considers factors like the methodical pace of quantum hardware development, competition from other advanced computing technologies, and current economic uncertainties.

Analysts expect a gradual expansion as the market matures. Progress will likely come through enhancements in infrastructure, computing platforms, and a wider range of suitable applications. Experts predict investments will continue accelerating over the next five years, even with measured hardware breakthroughs.Quantum computing stocksare positioned to capitalize on this advancement. Lets take a look at the three most promising ones.

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The first quantum computing stock on our list is the global tech companyMicrosoft(NASDAQ:MSFT). It has been around for over48 yearsand is based in Redmond, Washington. Today, the company is valued at over $2.7 trillion, develops software and hardware, provides cloud computing, and now develops quantum computing technology. Main business segments include productivity, business processes, and LinkedIn; cloud computing platforms like Azure; Windows and other operating systems; and devices like Surface and Xbox.

While quantum computing may have a limited financial impact on Microsoft, like its investment in OpenAI, the companys innovative contributions solidify its role in shaping the future of computing technology.

MSFTrecently announceda partnership with the AFL-CIO to develop AI technology that benefits workers. Instead of treating labor as an input to be optimized by tech, they want workers themselves to guide the development process. The partnership allows workers on-the-ground expertise to shape how AI gets built and deployed. This collaboration can reduce burdens, enhance careers, unlock human potential, and increase company valuation.

Microsoft reported strong financial results in its recent quarter. Total revenue rose13%year-over-year to $56.5 billion, operating income jumped 25% to $26.9 billion, net income increased 27% to $22.3 billion, and diluted earnings per share was $2.99. The company saw double-digit growth across major financial metrics, and on top of that, analysts rated the stock aStrong Buy, citing over 60% upside potential with a high price target of $600. These factors show that Microsoft continues to fire on all cylinders and deliver shareholder value, making it one of the best quantum computing stocks to buy.

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Intel(NASDAQ:INTC) has been an innovative force since its founding over55 yearsago. The company develops and provides computing products and services, including quantum computing technologies. Intels market cap now exceeds $200 billion thanks to its multiple business segments, such as client computing platforms, data centers, and artificial intelligence solutions. The company is also known for driving progress in cloud infrastructure, networking, and vision capabilities.

Intelrecently announcedthe launch of AI products, including the Intel Core Ultra and 5th Gen Intel Xeon processors. The company can unlock operational value by deploying these solutions across its technology infrastructure to boost efficiency, reduce expenses, and open the door for modern applications.

Intel delivered third-quarter revenue of$14.2 billionwhich represents an 8% decline in revenue year-over-year. The company outlined fourth-quarter guidance indicating expected revenues between $14.6 billion and $15.6 billion and non-GAAP EPS of $0.44. Analysts are confident with the stock, giving it a Buy rating witha high estimate of $68, citing over 34% upside potential from its current prices, making it one of the great quantum computing stocks to pick up.

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Honeywell(NASDAQ:HON) is a diversified technology and manufacturing company. The company was founded in1885and headquartered in Charlotte, North Carolina. As of late, the company has an enterprise value of$150 billionand operates four main business segments: aerospace, building technologies, performance materials and technologies, and safety and productivity solutions. Besides these segments, Honeywell also explores quantum computing through its Honeywell Quantum Solutions division. The division focuses on developing and commercializing quantum devices.

Honeywell recently boosted its market presence by integratingquantum-computing-hardened encryptionkeys into its smart utility meters. This solution generates keys through quantum-computing-enhanced randomness, significantly increasing data security for gas, water, and electric utilities. This initiative fortifies Honeywells commitment to innovation and positions the company at the forefront of cybersecurity.

Honeywell reported strong third-quarter results, with sales of$9.2 billion, up 3% over the prior year. Orders were up by 10%, the companys backlog grew 8% to reach a record level of $31.4 billion. Operating margins also went up by 20.9%. The Aerospace division performed well this quarter, with 18% sales growth. Honeywell also exceeded earnings expectations by a modest2.25%and analysts rate the stock as a Strong Buy with over 20% upside potential. Considering these factors, Honeywell is set for continued growth and makes for an excellent quantum computing stock to buy.

On the date of publication, Rick Orford held long positions in MSFT. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

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