IonQ, a quantum computing stock, saw sales increase by 77% in Q1 but losses widened

From Nasdaq: 2024-07-12 09:37:33

Investing in tech stocks is risky due to their disruptive nature. IonQ, a beaten-down tech stock, valued at $1.78 billion, operates in quantum computing. In Q1 of 2024, IonQ saw sales increase by 77%, but its losses widened. Despite R&D investments, Morgan Stanley lowered its price target citing negative profit margins.

IonQ has a cash burn rate for two years but may need to raise equity soon. Analysts expect sales to rise to $82.4 million by 2025. Morgan Stanley lowered its target price to $7 due to concerns about negative profit margins but remains hopeful about the long-term prospects of quantum technology.



Read more at Nasdaq: This Quantum Computing Stock Just Got a New Street-Low Price Target