IonQ, Inc. is a top tech stock according to hedge funds, with B. Riley initiating coverage and giving it a Buy rating with a $61 price target. The stock was trading at $42.42 on September 2, implying a 43.8% upside potential.

The company is a revenue growth leader in the quantum computing sector, with three years of 100% year-over-year growth. A fifth-generation product is set to launch later this year, adding to its progressing pipeline.

IonQ focuses on trapped-ion technology, generating reliable quantum bits that can solve complex problems. Acquisitions like Oxford Ionics have helped improve computing power and efficiency in quantum computing.

While IonQ shows promise, some AI stocks may offer greater upside potential with less risk. Consider exploring undervalued AI stocks that could benefit from current economic trends for investment opportunities.

Read more at Yahoo Finance: B. Riley Initiates Buy on IonQ (IONQ), Citing Quantum Growth