IonQ Likely to Benefit From Quantum Sector Tailwinds, Wedbush Says

MT Newswires Live05-04 23:53

IonQ (IONQ) is expected to benefit from sector tailwinds following Nvidia's (NVDA) launch of its Ising open AI models to accelerate the path to useful quantum computers, Wedbush Securities said in a Monday note.

IonQ was cited directly by Nvidia as one of the early adopters of Ising Calibration, the report said.

"This signals that IonQ's trapped-ion architecture is being recognized by the industry's most influential infrastructure player as production-ready and technically credible," the note said.

The report said it also deepens the commercial relationship between IonQ and Nvidia and embeds IonQ within the hybrid stack NVDA is building around CUDA-Q and NVQLink.

The report also said IonQ has "consistently" beaten its own guidance and raised forward estimates, and it could continue this trend with its Q1 results, due for release on May 6. IonQ forecast Q1 revenue of about $50 million.

Wedbush reiterated its outperform rating and $60 price target.

Price: 47.45, Change: +1.25, Percent Change: +2.71

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