The effect of a strong magnetic field on the stability and gross prope
rties of bulk as well as quasibulk quark matter is investigated using
the conventional MIT bag model. Both the Landau diamagnetism and the p
aramagnetism of quark matter are studied. How the quark hadron phase t
ransition is affected by the presence of a strong magnetic field is al
so investigated. The equation of state of strange quark matter changes
significantly in a strong magnetic field. It is also shown that the t
hermal nucleation of quark bubbles in a compact metastable state of ne
utron matter is completely forbidden in the presence of a strong magne
tic field.