2 Top Quantum Computing Stocks to Buy in April

Quantum computing hasn't received much attention lately, with all the focus on the general economy and the effects of President Donald Trump's tariff plans.

However, if you look at some of the pure-play quantum computing investments, like IonQ or D-Wave Quantum, it's clear that these stocks have completely fallen out of favor with the market due to their high risk. These stocks are down over 30% at the time of this writing, but they're not the quantum computing stocks I'm buying.

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Instead, I'm focusing on some of the larger players in the space, since they are also selling off quite heavily and appear to be excellent values right now. The two that I think are top buys right now are Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) and Nvidia (NASDAQ: NVDA). Each is well off its all-time high.

Alphabet and Nvidia are both involved in quantum computing

Alphabet kicked off the latest round of hype in December when it announced that its Willow quantum computing chip had a novel way of reducing computational errors inherent to quantum computers.

Quantum computers are different than regular computers since they don't transmit information in binary form (1s and 0s). There isn't any way to interpret a 1 or a 0 improperly, so there aren't any inherent errors in the system.

Quantum computing transmits information in qubits, which can better be described as the probability of an answer being a 1 or a 0, and the value is often transmitted as a number between these two points. Because there are rounding errors and other aspects of uncertainty with a quantum computer, errors start to enter a calculation.

This is a huge problem because quantum computing loses its edge over traditional computing if the same process is run multiple times to ensure that the correct answer is obtained.

Alphabet's breakthrough involved arranging its qubits in a grid-like system to increase the interaction between them, thus reducing the number of errors in a calculation. This innovation spurred interest in quantum computing until Nvidia CEO Jensen Huang crashed it in January.

In January, Huang said that useful quantum computing was over a decade away. However, he recently retracted that statement during the 2025 GTC, its global artificial intelligence conference, by inviting several of the top quantum computing companies to present information on their technology. Now, Nvidia has pivoted to supporting these companies through its QPU (quantum processing unit) products.

Nvidia isn't directly getting involved in the quantum computing race; it's choosing to support these companies by providing the hardware necessary to control and direct computing resources. Through its already successful CUDA software, it has developed some computing libraries that help accelerate the research into developing useful quantum computing. This is an excellent place for Nvidia to be, as quantum computers need classical hardware, like Nvidia's flagship GPUs.

So Alphabet and Nvidia are both highly involved in the quantum computing race, and the current state of each business makes them excellent buys.

Both stocks have reached valuation points not seen in a while

Neither company needs quantum computing to go in its favor to make investors a profit. Each has viable businesses right now that are solid and have not priced in any quantum computing success. Alphabet and Nvidia are trading for valuations not seen since the start of 2023, when there was widespread fear about a recession.

NVDA PE Ratio (Forward) data by YCharts; PE = price to earnings.

We've returned to that fear point again in the markets, but each time both of these stocks have recovered and reached a new high.

Right now, the broader market, as measured by the S&P 500, trades around 20 times forward earnings. This means that Alphabet trades at a discount to the market, and Nvidia trades for only a bit of a premium. Considering that each of these companies is a strong competitor in AI and has lots of growth ahead, these prices seem like absolute bargains.

While some of the pure quantum computing plays have sold off heavily, the large businesses competing in quantum computing have sold off a similar amount. As a result, I want to buy the stronger companies, as they don't need quantum computing to pan out to be successful investments.

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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Keithen Drury has positions in Alphabet and Nvidia. The Motley Fool has positions in and recommends Alphabet and Nvidia. The Motley Fool has a disclosure policy.