D-Wave Quantum Inc. (NASDAQ:QBTS) stock fell in Tuesday premarket trading as investors took profits after the stock surged nearly 20% on Monday following its AT&T agreement. The pullback also comes ahead of the company’s earnings report next week.
The broader market was also under pressure, with Nasdaq futures down 0.92% and S&P 500 futures off 0.03%. Investors are now weighing whether D-Wave can extend its recent momentum after Monday’s sharp, catalyst-driven advance.
AT&T Agreement Sparked Recent Rally
D-Wave’s rally followed an agreement with AT&T Inc. (NYSE:T) to expand quantum computing across its network operations.
The deal highlights a commercial use case for D-Wave and also lifted peers IonQ Inc. (NYSE:IONQ), Rigetti Computing Inc. (NASDAQ:RGTI) and Quantum Computing Inc. (NASDAQ:QUBT).
Quantum stocks rose Monday despite the Nasdaq falling 1.09% and the technology sector declining 2.18%, underscoring the group’s momentum-driven trading.
Critical Levels To Watch For QBTS Stock
From a trend perspective, QBTS is still trying to repair damage from earlier in the year: it’s trading 3.3% below its 20-day SMA ($19.68) and 16.2% below its 50-day SMA ($22.71).
The longer-term backdrop also remains heavy, with the 50-day SMA below the 200-day SMA (a death cross that occurred in March), which often means rallies can face supply until price reclaims key averages.
Momentum looks more “reset” than “extended,” with RSI at 48.66, a neutral reading that suggests the move is more about a bounce attempt than an overbought breakout.
Key levels to watch are straightforward given where the moving averages sit overhead and where buyers previously defended the tape:
- Key Support: $16.00 — a nearby downside level tied to a prior buyer-defense zone if momentum fades
- Key Resistance: $22.00 — a round-number area that also sits near the 50-day SMA, where rebounds can stall
D-Wave Quantum Earnings Outlook
Attention is now shifting to D-Wave’s second-quarter earnings report, scheduled for August 6.
- EPS Estimate: Loss of 10 cents (Down from a loss of 8 cents YoY)
- Revenue Estimate: $4.04 million (Up from $3.10 million YoY)
Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $39.00 (high: $43.00; low: $30.00) across 18 analysts. Recent analyst moves include:
- Benchmark: Initiated with Buy (Forecast $30.0000) (July 27)
- Mizuho: Outperform (Raises forecast to $35.00) (June 15)
D-Wave Quantum Price Action
QBTS Stock Price Activity: D-Wave Quantum shares were down 2.75% at $18.97 during premarket trading on Tuesday, according to Benzinga Pro data.
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