IonQ is a company that develops quantum computing technology for commercial applications. Accesible through major cloud platforms such as Microsoff Azure or Google Cloud, these quantum computers solve problems way beyond the capabilities of traditional computers.
Shares of IonQ have been on a streak this year, rising by more than 200%. It is posting all time highs at the $48 mark and is going through a period of consolidation. The company states that the adressable market will grow to $65 billion by 2030, pointing to strong growth opportunities in the near future.
Despite the bullish sentiment toward the stock, IonQ is still in it’s early days. It will have to face, and come out above strong competition from the likes of IBM, Alphabet, and more. I believe waiting for a pullback between $35-$40 would represent a good buy the dip opportunity to invest in the stock.
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