The quantum computing sector represents the cutting edge of computing technology. It focuses on developing computers based on the principles of quantum theory. Unlike traditional computers, which use bits as the smallest unit of data, quantum computers use quantum bits, or qubits, that can represent and store information in a more complex manner. This fundamental difference allows quantum computers to solve certain types of problems much faster than their classical counterparts. The sector is still in its early stages. With research and development being conducted by a mix of startups, tech giants, and academic institutions.

Investing in quantum computing stocks offers exposure to a technology with the potential to transform industries. These include cryptography, drug discovery, and complex system simulation. The advantages of investing in this sector include the potential for significant long-term growth as quantum computing matures and finds practical applications. However, there are also considerable risks. The technology is still experimental, and practical, widespread applications may be years away. Moreover, the high cost of research and development can strain the financials of companies in this space, making investments in quantum computing stocks speculative.

For investors, the quantum computing sector represents a high-risk, high-reward proposition. Due diligence is essential, as is a clear understanding of the technological and market challenges facing the sector. Taking this into consideration, here are two quantum computing stocks to keep an eye on in the stock market today.

Quantum Computing Stocks To Buy [Or Sell] Now

• Honeywell International Inc. (NASDAQ: HON)
• IonQ Inc. (NYSE: IONQ)

Honeywell International (HON Stock)

First, Honeywell International Inc. (HON) is a multinational conglomerate that operates in various sectors, including aerospace, building technologies, performance materials and technologies, and safety and productivity solutions.

Last month, Honeywell International announced a quarterly dividend of $1.08 per share, as decided by its Board of Directors. This dividend, drawn from the company's surplus, is scheduled for payment on March 15, 2024, to shareholders who are on record as of March 1, 2024. This equals an annual dividend yield of 2.15%.

In 2024, shares of HON stock are trading modestly lower by 3.65% YTD. Meanwhile, as of Thursday's closing bell, Honeywell stock is trading at $201.38 a share.

IonQ Inc. (IONQ Stock)

Next, IonQ Inc. (IONQ) is at the forefront of developing quantum computing technology, aiming to harness the unique properties of quantum mechanics to process information in ways that traditional computers cannot. IonQ focuses on building quantum computers that are anticipated to significantly advance computational capabilities in various fields such as material science, pharmaceuticals, and finance.

This week, IonQ announced a partnership with South Carolina Quantum (SC Quantum) to boost quantum computing in South Carolina. They'll provide quantum computing resources and services to partners, including academic institutions, and develop courses to train people for the quantum economy. This move makes South Carolina the latest state to collaborate with IonQ, following others like Maryland and Washington, highlighting the growing emphasis on quantum skills across various sectors. Last year, South Carolina invested in SC Quantum for workforce development and quantum technology advancement.

Year-to-date, shares of IONQ stock have fallen by 22.53% thus far. Though, over the last five trading days, IONQ stock has rebounded by 2.17%, closing Thursday's trading session at $9.42 a share.