IONQ - Could IonQ Become The Next Nvidia?
2023-11-21 06:37:00 ET
Nvidia 's (NASDAQ: NVDA) stock has rallied about 1,110% over the past five years, turning it into the world's first trillion-dollar chipmaker. A large portion of that rally was fueled by the explosive growth of the artificial intelligence (AI) market, which drove more companies to buy Nvidia's high-end data center chips for processing AI tasks.
Nvidia might still have room to run , but it's asking a lot for a $1.2 trillion company to generate even bigger multibagger gains. Therefore, many investors are already likely seeking out the "next Nvidia" -- a company that is exposed to the same secular AI tailwinds but has more upside potential. Could the quantum computing company IonQ (NYSE: IONQ) check all the right boxes?
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Could IonQ Become The Next Nvidia?