From Nasdaq:

Investors have been wary of the idea that a stock can’t have two successful years in a row, but that’s not necessarily true. IonQ’s stock, which gained 280% in 2023, has the potential to see another fruitful year in 2024 due to several factors. Quantum computing is gaining more recognition, IonQ has technological advantages over its competitors, a major milestone is on the horizon, and mergers and acquisitions in the industry could drive the stock higher.

Firstly, the practical use of quantum computers in technologies like artificial intelligence is increasing, with IonQ involved in a generative AI partnership. This will help investors understand and acknowledge the potential of IonQ’s technology.

IonQ’s trapped-ion approach to quantum computing sets it apart from competitors. While companies like Alphabet, IBM, and Microsoft are planning quantum-computing solutions for the future, IonQ is already generating revenue with practical, commercialized quantum computers.

In 2024, IonQ expects to reach a milestone in their quantum-computing platforms, offering a higher measure of computing power. This technological progress will likely draw attention to IonQ’s capabilities and potential.

The quantum-computing industry is expected to see a wave of mergers and acquisitions, with tech giants seeking to solidify their positions. While this doesn’t guarantee a buyout for IonQ, it could create positive momentum for the stock.

Although investing in IonQ carries above-average risk and volatility, the company’s tangible solutions and potential revenue growth make it an intriguing investment opportunity for those who can stomach the risk. While it wasn’t identified as one of the 10 best stocks to buy now by The Motley Fool Stock Advisor, IonQ’s potential for another successful year in 2024 is something to consider before making an investment.



Read more: 4 Reasons IonQ Stock Could Make You Money in 2024