IONQ - Forget IonQ: 3 Quantum Computing Stocks to Buy Instead
2024-02-12 05:19:00 ET
Quantum computing has captured the imagination of investors and tech enthusiasts alike, promising to revolutionize everything from drug discovery to cryptography. The intense spotlight has made a market darling out of IonQ (NYSE: IONQ) , a pure-play quantum computing company. Even after a 45% price drop from its yearly highs last summer, the stock has more than doubled over the last year and trades at a mind-blowing 113 times sales .
IonQ may have a stellar long-term future ahead, but it's still a highly speculative investment. It runs a deeply unprofitable business model with more question marks than exclamation points, and the company has yet to ship a functioning system. The nascent industry looks risky in this early stage, and IonQ doesn't have a Plan B ready in case its research or system-building efforts go wrong. Therefore, I'd rather look at more stable alternatives in the field of quantum computing .
On that note, here are three companies dabbling in quantum computing as a side gig to far more robust core businesses. This way, you can gain exposure to this cutting-edge technology while also enjoying the benefits of a diversified and proven business platform.
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Forget IonQ: 3 Quantum Computing Stocks to Buy Instead