IONQ - Could IonQ Become the Next Snowflake?
2024-01-27 07:00:00 ET
IonQ (NYSE: IONQ) and Snowflake (NYSE: SNOW) represent two very different ways to invest in the booming cloud services market. IonQ serves up its quantum computing power as a cloud-based service, while Snowflake uses its cloud-based data warehouses to collect and organize data for large organizations.
With an enterprise value (EV) of $2 billion, IonQ is still a lot smaller than Snowflake, which has an EV of $58 billion. IonQ also hasn't attracted as much attention as Snowflake, which made history as the biggest software IPO ever upon its public debut in September 2020. But over the long term, could this smaller cloud stock become just as important as Snowflake?
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Could IonQ Become the Next Snowflake?