QBTS Hits New High Amid Fed Rate Cut, Quantum Growth: Buy Now or Wait?

D-Wave Quantum QBTS reached a new all-time high of $24.85 yesterday, as a series of high-profile September 2025 events showcased the company’s growing influence in the quantum space. Management used global platforms like SEMICON Taiwan, Quantum World Congress and FintechNation 25 to highlight how annealing quantum computing is already delivering practical value for customers across optimization, AI and fintech. With technical breakthroughs and live use cases, D-Wave is strengthening its position as the world’s first and only commercial supplier building both annealing and gate-model systems.Fueling the stock’s momentum further, the Federal Reserve’s first interest rate cut of 2025 on Sept. 17 of 25 basis points has energized capital flows into innovation-driven sectors such as quantum computing, where valuations are largely shaped by projected future adoption.D-Wave, with more than 200 million problems submitted to its quantum systems and over 100 organizations leveraging its technology across optimization, artificial intelligence, fintech and materials research, is reinforcing its role as a leading commercial player in the quantum growth story. Against this backdrop of accelerating technical credibility and macro tailwinds, QBTS is attracting renewed attention from investors positioning for long-term upside.Year to date, shares of D-Wave have rallied 185.9%, outperforming the broader industry, sector and the S&P 500’s 24.3%, 20.4% and 14.3% growth, respectively. During this period, the company’s direct peers like Rigetti Computing RGTI and IonQ IONQ gained 62.1% and 59.9%, respectively.QBTS Stock ComparisonImage Source: Zacks Investment ResearchGlobal Visibility, Rising Adoption and Advantage2 Rollout Fueling D-Wave's GrowthA key driver of D-Wave’s recent momentum is its proactive global engagement and expanding product rollout, underscoring both visibility and adoption. At events like SEMICON Taiwan, Quantum World Congress and FintechNation 25, company leaders showcased technical breakthroughs, practical use cases in optimization and AI and even blockchain energy savings, strengthening investor confidence that annealing quantum computing is delivering measurable impact today. This narrative is supported by growing commercial traction, highlighted at the Qubits Japan 2025 user conference, where D-Wave reported an 83% year-on-year increase in APAC bookings, with customers such as Japan Tobacco and NTT DOCOMO moving beyond proofs of concept into real-world applications. Adding to the momentum, the general availability of its Advantage2 system, available through both cloud and on-premises deployment, brings enhanced qubit connectivity, longer coherence and improved efficiency, enabling customers to tackle more complex problems now.Renewed Momentum in Quantum Stocks With Fed Rate CutThe Federal Reserve’s September 2025 rate cut, its first of the year, is set to boost the investment-driven quantum sector. Companies like D-Wave, IonQ and Rigetti, still in their scaling phase, trade more on breakthroughs and adoption than near-term revenues. With lower financing costs and improved liquidity following the cut, investor appetite for high-growth innovation is likely returning, supporting commercialization efforts and accelerating long-term R&D roadmaps across the quantum space. Moreover, the Fed’s Summary of Economic Projections points to two additional 25-basis-point cuts before year-end 2025, signaling further upside momentum for the sector and its key players.FY25 Estimates for QBTSThe Zacks Consensus Estimate for D-Wave Quantum’s 2025 earnings and revenues implies 68% and 181.5% improvement, respectively, from 2024.Image Source: Zacks Investment ResearchBut Valuation Remains StretchedD-Wave Quantum’s shares are currently overvalued, as suggested by its Value Score of F. In terms of the forward 12-month price/sales (P/S), QBTS is trading at 236.93X, significantly higher than its one-year median of 100.30X and the Zacks Computer and Technology sector’s 6.94X. The stock is also trading at a premium to IONQ’s 135.61X. However, it remains discounted compared to RGTI’s P/S of 421.48X.Price/Sales Ratio (Forward 12 Months)Image Source: Zacks Investment ResearchWait for a Better OpportunityDespite D-Wave Quantum’s strong global presence, expanding adoption, and the added boost from the Fed’s September rate cut, the stock’s current valuation leaves limited room for near-term upside. Trading at over 236X forward sales, the market already prices in significant optimism around Advantage2 adoption and commercial traction. With a Zacks Rank #3 (Hold), we recommend that investors wait for a more favorable entry point as the company continues to execute on its growth initiatives and demonstrates sustained, measurable impact across industries.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Higher. Faster. Sooner. Buy These Stocks NowA small number of stocks are primed for a breakout, and you have a chance to get in before they take off.At any given time, there are only 220 Zacks Rank #1 Strong Buys. On average, this list more than doubles the S&P 500. We’ve combed through the latest Strong Buys and selected 7 compelling companies likely to jump sooner and climb higher than any other stock you could buy this month.You'll learn everything you need to know about these exciting trades in our brand-new Special Report, 7 Best Stocks for the Next 30 Days.Download the report free now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report IonQ, Inc. (IONQ): Free Stock Analysis Report Rigetti Computing, Inc. (RGTI): Free Stock Analysis Report D-Wave Quantum Inc. (QBTS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks