To: Johnny Canuck who wrote (67401 ) 10/31/2025 3:36:44 AM From: Johnny Canuck Read Replies (1) | Respond to of 67759 Additional Reading from MarketBeat.com Will D-Wave's European Expansion Keep Fueling the Rally?Written by Nathan Reiff. Published 10/21/2025. Key PointsD-Wave Quantum hit an all-time high in mid-October but then slumped in the days after the firm announced a major sale to a Swiss supercomputing operation. As important as Advantage2 sales are for D-Wave's top and bottom lines, investors may be cooling on the firm while widespread marketability remains slow to develop. Two October Sell ratings from analysts also threaten to slow D-Wave's major rally, which has nearly quadrupled the price of shares year-to-date. Quantum computing giant D-Wave Quantum Inc. (NYSE: QBTS) appears to be at a new inflection point. Shares have nearly quadrupled this year, but in mid-October the stock began to reverse course after reaching nearly $45 on Oct. 15. 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Advantage2 sales are infrequent, so each new agreement attracts attention. That said, this is not a trivial deal—it could meaningfully affect D-Wave's quarterly and annual revenue. The market response, however, was muted. The stock reversed sharply—about 15%—following the announcement, underscoring investor concerns about whether even a deal of this size can justify D-Wave’s soaring valuation. Will the SQT contract be enough to sustain the investor enthusiasm that helped drive QBTS up more than 300% over the past year? A Closer Look at D-Wave's Advantage2 SalesReleased for general availability earlier this year, D-Wave's Advantage2 system has produced a few notable sales and collaborations. Defense and aerospace firm Davidson Technologies assembled a system at its Alabama facilities in April; the preexisting D-Wave computer at Germany's Jülich Supercomputing Centre is slated for an Advantage2 upgrade; and D-Wave is pursuing a sale to Yonsei University and Incheon Metropolitan City in South Korea. Nevertheless, sales of physical Advantage2 systems have been fairly rare, despite a growing customer base across geographies and sectors. There are two likely reasons for that: cost and cloud access. Advantage2 systems can be prohibitively expensive for many potential clients—most appealing to specialty supercomputing centers like Jülich or large government customers—while other users can access Advantage2 capabilities via D-Wave's cloud service. When D-Wave reports earnings on Nov. 13 (covering the first full quarter since Advantage2's general availability), investors may get a clearer view of the financial impact from both physical system sales and cloud-based Advantage2 services. Analyst Sentiment Turns Mixed Wall Street analysts remain largely bullish on D-Wave , but it’s notable that two firms issued or reiterated Sell ratings in October. Weiss reiterated its Sell rating just before the Advantage2 news, while Zacks downgraded the stock to Strong Sell from Hold earlier in the month. Those shifts likely reflect concern about D-Wave's ability to maintain momentum. As of Oct. 20, the consensus price target is just over 40% of the current price, implying roughly 41% downside potential. CEO Alan E. Baratz recently sold nearly 32,000 shares , a move that may have added to selling pressure and increased investor unease. Competition across the industry is also heating up, creating another external headwind for D-Wave. In its announcement about the SQT Advantage2 sale, D-Wave noted the project's connection to the "Q-Alliance," a partnership with sometime-rival IonQ Inc. (NYSE: IONQ) . As the quantum industry matures and firms' share performance decouples, investors will be watching how major players collaborate in ways that are mutually beneficial. This partnership could benefit both D-Wave and IonQ, especially as peer Rigetti Computing (NASDAQ: RGTI) recently revealed a major partnership with the U.S. Air Force . QBTS Faces a Reality Check as Hype Meets Investor SkepticismQBTS's recent plunge highlights the market’s shifting focus from hype to fundamentals. While D-Wave continues to position itself at the forefront of quantum computing innovation , the company now faces the burden of proving it can generate consistent, scalable revenue—both from physical system sales and its cloud platform. Investors should brace for increased volatility. The next few months will be critical in determining whether this quantum rally has staying power. This message is a paid sponsorship for Stocks To Trade, a third-party advertiser of MarketBeat. Why did I get this email? . If you need assistance with your subscription, please feel free to email MarketBeat's South Dakota based support team at contact@marketbeat.com . If you would no longer like to receive promotional emails from MarketBeat advertisers, you can unsubscribe or manage your mailing preferences here . © 2006-2025 MarketBeat Media, LLC. All rights protected. 345 N Reid Pl., Suite 620, Sioux Falls, SD 57103. United States of America . . Featured Link: Nvidia CEO Makes First Ever Tesla Announcement (From Brownstone Research)