IONQ stock up 500% in 6 months due to quantum computing technology, with promising but risky future.

From Nasdaq: 2024-12-25 21:30:20

IonQ Inc. stock (NYSE: IONQ) has surged 500% in the last six months due to its quantum computing technology. Quantum computers use qubits to process complex calculations, offering unique computational capabilities. IonQ’s revenue comes from Quantum Computing as a Service. While promising, quantum computing is still in development with high risks. IonQ reported a $209 million operating loss in the last year.

Advancements in quantum computing, like Google’s Willow chip and Amazon’s Quantum Embark, have boosted the rally in quantum stocks. IonQ’s latest offering, IonQ Forte, is a 36-qubit quantum computer for commercial use. IonQ’s revenue base is small at $37 million. The company faces challenges in technological improvements and costs. IonQ has high-fidelity rates and notable customers like Hyundai and Airbus.

IONQ stock has been volatile, with returns of 55% in 2021, -79% in 2022, and 259% in 2023. The Trefis High Quality Portfolio, with 30 stocks, has outperformed the S&P 500 each year. IonQ reported a 22% return in December 2024 and a 259% return for 2024. The Trefis Reinforced Value Portfolio had a 18% return for 2024.



Read more at Nasdaq: What’s Behind The 500% Rise In IONQ Stock?