IonQ Inc. (NYSE: IONQ) has drawn attention to the quantum-computing sector following a demonstration of real-time error correction. According to a report from Benzinga, this capability allows a quantum system to identify and correct errors without slowing down its operations, addressing what analysts have identified as a significant hurdle for the industry.
Steve Grasso, a trader on CNBC’s "Fast Money," noted that real-time error correction has been one of the biggest challenges facing quantum computing. He stated that IonQ stands apart from competitors, who have not yet demonstrated the same capability. Grasso believes IonQ’s breakthrough could make quantum computing practical sooner than investors previously expected. He also suggested that rather than betting on a single company, investors might consider owning a basket of quantum-computing stocks to spread risk.
Lee Munson, President and CIO at Portfolio Wealth Advisors, echoed the view that IonQ removed a major roadblock to commercialization. Munson described IonQ as a venture-capital investment inside a publicly traded stock, characterizing the company as speculative and early-stage. He distinguished IonQ from D-Wave Quantum Inc. (NASDAQ: QBTS), noting that the two companies approach the technology differently and should not necessarily trade together. For investors seeking less risk, Munson pointed to International Business Machines Corp. (NYSE: IBM) and Alphabet Inc.’s (NASDAQ: GOOGL) Google as alternative ways to gain exposure to the sector.
Regarding IonQ’s stock performance, shares were down 2.97% at $41.27 during premarket trading on Thursday, according to Benzinga Pro data.
