Investors are piling into quantum computing stocks, with the Defiance Quantum ETF soaring 6% or more this year, outperforming the S&P 500’s roughly 20% gain in that time. Seven top-performing stocks in the ETF have shown impressive gains, including Onto Innovation (21.7%), MicroStrategy (18%), and Micron Technology (16%).
Despite cautious comments from Nvidia CEO Jensen Huang about quantum computing, research and development efforts will continue to drive progress, according to Joe Tigay, portfolio manager of the Rational Equity Armor Fund. The focus may shift towards near-term applications in AI enhancement, drug discovery, materials science, and financial modeling.
The top winner this year is Onto Innovation, with shares up 21.7%. MicroStrategy takes second place, with shares up over 420% in the past 12 months. Other top performers include KLA (28.2%), Teradyne (32.0%), Applied Materials (16.2%), and MKS Instruments (14.0%).
Source: https://www.investors.com/etfs-and-funds/sectors/sp500-investors-dont-waste-any-time-buying-7-quantum-computing-stocks