IonQ Hit Major Quantum Computer Milestone Earlier Than Expected-Time to Buy?
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IonQ Hit Major Quantum Computer Milestone Earlier Than Expected-Time to Buy?
"With an impressive September of gains in the books, I think investors should be more cautious going into October, especially as some of the froth comes off the top of some of the market's most explosive gainers. Indeed, IonQ ( NYSE:IONQ) and the broad basket of quantum plays are on the rapid retreat right now, and the negative momentum seems to be so strong"
"At the time of this writing, shares of IONQ are down more than 18% in just over a week's time. Though being three months ahead of schedule is, undoubtedly, an impressive feat, valuation concerns could continue to be center stage, especially as investors get a bit jittery should a government shutdown set the stage for a bit of profit-taking in early October."
IonQ's Tempo system reached a major milestone three months ahead of schedule, with an algorithmic qubit score setting fresh records. Quantum computing stocks that rallied in September have dropped sharply in early October, with IonQ and other pure-plays experiencing rapid retreats and heavy negative momentum. IonQ's performance benchmarks appear to outpace some rivals, but shares fell over 18% in just over a week amid valuation concerns. Potential U.S. government shutdown risks could prompt profit-taking and heighten market jitters. Strong sell-offs might create entry opportunities for long-term investors in early-stage quantum innovators despite short-term volatility.
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