Is IonQ Stock a Buy as Revenue Skyrockets?
For the third straight quarter, IonQ (NYSE: IONQ) saw its revenue more than triple. However, this time, its results were not enough to give the stock a lift, as its shares fell more than 9% the following session after its May 6 announcement. Yet the stock remains up more than 60% over the past year.
Let's look at the quantum computing company's earnings report and prospects to see whether this dip is a good buying opportunity.
While quantum computing is in its infancy, IonQ has become one of the early leaders in the field because its trapped-ion technology has proven to be one of the most accurate. This was on display when it hit the milestone of 99.99% 2-qubit gate fidelity (accuracy) last fall. This, in turn, is helping lead to more sales and contacts.
Source Fool.com
