IonQ Stock Is Up 294% in the Past Year. Here's My Prediction For What Comes Next
Investors are keen on quantum computing stocks like IonQ (NYSE: IONQ) right now. The stock is up a whopping 294% in the past year, likely due to industry breakthroughs in quantum computer chips that are helping improve error correction and computational speeds. With a market cap of $8.6 billion as of this writing, IonQ is the largest pure play quantum computing stock on the market and has been a favorite of investors in the last few quarters.It can't be because of the company's underlying financial performance, which remains ugly. IonQ is generating minimal sales and racking up huge losses quarter after quarter. Here's my prediction for what comes next for IonQ shareholders.IonQ aims to build quantum computers to sell to third parties. The promise of quantum computers is large. Using quantum mechanics, researchers have been able to build quantum bits -- Qubits -- that can compute difficult problems exponentially faster than traditional computers. If quantum computers can be widely commercialized, it promises a revolution in computing similar to that of traditional computers. IonQ has an early stage quantum computer that it sells to research institutions and through the cloud computing platforms.Continue reading
Investors are keen on quantum computing stocks like IonQ (NYSE: IONQ) right now. The stock is up a whopping 294% in the past year, likely due to industry breakthroughs in quantum computer chips that are helping improve error correction and computational speeds. With a market cap of $8.6 billion as of this writing, IonQ is the largest pure play quantum computing stock on the market and has been a favorite of investors in the last few quarters.
It can't be because of the company's underlying financial performance, which remains ugly. IonQ is generating minimal sales and racking up huge losses quarter after quarter. Here's my prediction for what comes next for IonQ shareholders.
IonQ aims to build quantum computers to sell to third parties. The promise of quantum computers is large. Using quantum mechanics, researchers have been able to build quantum bits -- Qubits -- that can compute difficult problems exponentially faster than traditional computers. If quantum computers can be widely commercialized, it promises a revolution in computing similar to that of traditional computers. IonQ has an early stage quantum computer that it sells to research institutions and through the cloud computing platforms.
