IonQ: A Quantum Computing Pioneer

IonQ Company Overview Zacks Rank #2 (Buy) stock IonQ (IONQ) is a leading quantum computing company leading the charge in building and delivering highly effective quantum computers. The College Park, Maryland-based company was founded by two professors from Duke University who found a way to leverage “trapped-ion technology, allowing users to tackle complex computational problems that are well beyond the reach of classical computers. In addition, IonQ offers quantum systems accessible via leading cloud platforms like Microsoft’s (MSFT) “Azure” and Alphabet’s (GOOGL) “Google Cloud” so that users can experiment and apply quantum computing in their field. The company also has clients like Airbus, which uses the technology to optimize aircraft loading algorithms.IonQ’s Quantum Computing Breakthrough IonQ recently announced that it has reached a significant achievement in the field of trapped-ion quantum computing by creating high-speed, mixed-species quantum gates that greatly enhance the rate of computation and scalability. The research, done in partnership with the Australian National University, marks the first time ultrafast laser-driven gates have been realized, which enhance qubit interactions and decrease errors, both of which are necessary for fault-tolerant quantum networks. The company is now working to secure intellectual property (IP) rights for the innovation by filing patents on the technology, and future experiments are expected to incorporate these improvements into real-world quantum systems.IonQ Insider Buying  Insider buying is one of the best ways to gauge management’s conviction in their own stock. Earlier this month, insider disclosures showed that IonQ director William F Scannell wants “skin in the game.” Scannell purchased 93,066 IONQ shares for a total cost of more than $2 million. Scannell now owns 135,047 IONQ shares in total which are valued at ~$3.5 million.Image Source: Zacks Investment ResearchBullish Price ActionLate last year, highly respected and influential Nvidia (NVDA) CEO Jensen Huang rained on the quantum computing stock parade by saying that quantum computing is “at least a decade away.” Since then, QC stocks like IONQ have suffered dramatic drawdowns. That said, IONQ shares are finding buyers off of the rising 200-day moving average. The first tag of the moving average after a massive breakout is often an area of asymmetric reward-to-risk.Image Source: Zacks Investment ResearchQuantum Computing Sentiment is ShiftingThough it is inarguable that the quantum computing industry remains a speculative and early bet on the future, Wall Street sentiment is shifting to the bull camp. For instance, Huang and Nvidia reversed course and held a “Quantum Computing Day” last week. Meanwhile, IONQ industry peers like Rigetti Computing (RGTI) and D-Wave Quantum (QBTS) earn Zacks Rank “Buys,” signaling that analysts are becoming more bullish on the space.  Bottom Line With its innovative trapped-ion technology, partnerships with major cloud platforms, and recent breakthroughs, IonQ stands out as a promising leader in the emerging quantum computing industry.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Microsoft Corporation (MSFT): Free Stock Analysis Report NVIDIA Corporation (NVDA): Free Stock Analysis Report Alphabet Inc. (GOOGL): Free Stock Analysis Report IonQ, Inc. (IONQ): Free Stock Analysis Report Rigetti Computing, Inc. (RGTI): Free Stock Analysis Report D-Wave Quantum Inc. (QBTS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks