Quantum computing is not a foreign concept. The concept of using quantum mechanics to process information has long been acknowledged, but has been held back due to technological limitations. Recent advances in hardware technology has led to quantum computing’s ability to solve real-world problems, thus generating massive interest from global companies and investors alike.
These monumental strides have put quantum computing at a discovery phase. What this means is increased investor interest: thus higher trading volume and short-term volatility. As AI capabilities continue to expand , spending on cloud computing (hence quantum computing) is expected to reach $1 trillion annually.
You should keep an eye out for this stock:
IonQ is a developer of quantum computing hardware and is in it’s early stages of discovery. The company has already announced partnerships with Microsoft, Amazon and Google on the cloud computing front.
Despite being able to generate revenue, shown by a 100% increase in revenue over the last year, the company is not profitable. The current profit per share sits at -0.24 dollars. Hence, investing in this company woukd be a speculative move for the future of quantum computing. However, I’m quite excited about this company, and expect the high levels of investment into the technology will yield long-term profits.
Shares of IonQ are sitting at a 40% dip at the time of writing, and further volatility should be expected in the next couple of weeks. The $30 price level acts as a significant mark. Dipping below the level would result in continued selling, whereas moving above this psychological mark would trigger “Fear of Missing Out” activity, driving prices higher
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