D-Wave Quantum: A Chip-Led Slide, Two Trimmed Targets and a Lawsuit That Won't Go Away

D-Wave Quantum's shares bore the brunt of a sector-wide retreat in technology and AI names, with the quantum computing specialist giving up 13% and closing at €8.05. Reports attributed the drop to selling pressure spilling over from semiconductor stocks into quantum computing peers — Rigetti Computing and IonQ were caught in the same downdraft — rather than to any fresh company-specific disclosure. The Associated Press, for its part, described broad-based selling across AI-adjacent businesses and chipmakers.

Two Houses Trim Targets, Neither Blinks on Ratings

The pullback came wrapped in a week of recalibrated price targets. On Wednesday, Wedbush cut its target on D-Wave from $37 to $30 while keeping an "Outperform" rating — a lower mark, not a downgrade. Earlier in the week, B. Riley Securities' Craig Ellis had already reduced his target from $40 to $27, citing weakness in the quantum computing and AI sector, and likewise held firm on his buy recommendation. Both houses pulled back their marks without abandoning their positive stances.

A Securities Suit and a Deadline in December

Not every headline was market-driven. Pomerantz disclosed on October 29 that a securities class action had been filed against D-Wave and certain executives, alleging misleading statements about the business and its revenue prospects. The claims are unproven, and the notice sets December 15, 2026 as the deadline for motions seeking lead plaintiff status.

Research Wins, Product Upgrades and a Korean Pact

On the operational front, D-Wave reported on Monday that researchers at Florida Atlantic University had tested an annealing-based approach to lung cancer prognosis on limited data. According to the company, the method reached 94.31% accuracy in simulation and 91.90% on quantum hardware. The findings are preliminary and rest on a dataset expanded with additional data.

Midweek brought word that D-Wave had improved its hybrid Stride solver: in comparative tests, the revised version found better solutions within 15 seconds than its predecessor managed in 120 seconds. The company also launched a learning path on applied quantum optimization spanning three courses.

Last week, D-Wave and LG CNS announced a strategic collaboration built on a non-binding letter of intent, aimed at advancing quantum optimization adoption in South Korea. A multi-year agreement extending the manufacturing partnership with SkyWater Technology, meanwhile, underpins the company's development roadmap for its superconducting technology.

All Eyes on November 10

The next confirmed milestone is November 10, 2026, when D-Wave will publish third-quarter 2026 results before the opening bell — a date the company announced last week. Until then, the stock's direction looks set to be steered by the wider tech tape as much as by its own pipeline.