2 Reasons IonQ Is the Top Quantum Computing Stock to Buy Right Now

Quantum computers, which can process specific tasks much faster than classical computers, are still mainly used for niche research projects rather than mainstream computing applications. That’s because they’re much larger, pricier, and consume more power than classical computers.

Yet as more companies miniaturize and improve those systems, that technology could become more widely adopted and attract a broader range of customers. One of those companies is IonQ (IONQ 6.60%), which boasts two major strengths against its industry peers.

Image source: Getty Images.

Its focus on trapped ion systems

Most of the early movers in the quantum market — including tech giants like IBM (IBM 5.18%) and Alphabet‘s (GOOG +0.52%) (GOOGL +0.45%) Google — accelerate electrons through superconducting loops to achieve a quantum state. These systems are relatively inexpensive to manufacture and easy to scale, but they require cryogenic refrigeration. As a result, they’re big, consume a lot of power, and are expensive to operate.

IonQ addresses those issues with its “trapped ion” systems, which use tiny lasers to trap ions in a quantum state in miniaturized vacuum chambers. These systems can operate at room temperature and are more compact than older electron-driven systems.

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Current Price

$31.39

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Market Cap

$12B

Day’s Range

$31.28 – $33.59

52wk Range

$17.88 – $84.64

Volume

618K

Avg Vol

21M

Gross Margin

-747.41%

Its focus on lower error rates

Most quantum computers also have a higher error rate than their classical counterparts. To address that issue, most quantum companies are trying to improve their gate fidelity, which measures the percentage of correct calculations.

Since IonQ’s trapped ion qubits are identical atoms, they exhibit more consistent and predictable behavior than electron-driven superconducting loops. That’s why IonQ can achieve much higher gate fidelity levels (up to 99.99% on its two-qubit systems) than its industry peers.

Why is IonQ the top quantum stock to buy?

IonQ’s focus on miniaturization and lower error rates makes it a more forward-thinking play on the quantum computing market, which could grow at a 34.8% CAGR from 2025 to 2032, according to Fortune Business Insights. It already sells four systems: its older Aria system, its flagship Forte system, its data center-oriented Forte Enterprise system, and its upcoming Tempo system. It also serves up its own quantum computing power as a cloud-based service.

From 2025 to 2028, analysts expect IonQ’s annual revenue to nearly triple to $317 million as it scales up its business. Its stock might look expensive at 38 times its projected 2027 sales, but it could still have plenty of room to grow as the quantum computing market expands.