IONQ stock has a hype problem. It's extremely overvalued compared to the other two publicly traded quantum computing stocks out there. While they have managed to achieve meaningful revenues of $11 million, and they're expecting $18 million for this year, they only have three customers accounting for most of their revenues (they don't tell us the exact amount). They also don't break down services vs QCaaS revenues, not to mention more than a third of their revenues come from a related party. We wouldn't consider investing in $IONQ stock unless they realized $50 million in revenues along with a market cap of at least $1 billion. Given their forecasted revenues of $18.6 million for 2023, we wouldn't pay more than $1.85 a share for $IONQ stock which represents a simple valuation ratio of 20. IonQ is an overpriced stock that we wouldn't consider investing in because there's just way too much hype.
RESEARCH PIECES USED IN THIS VIDEO:
1. Why Are Quantum Computing Stocks Falling?
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2. IonQ - A Publicly Traded Quantum Computing Stock
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3. Quantum Computing Stocks Are Having a Moment www.nanalyze.c...
4. Artificial Intelligence (AI) and Quantum Computing
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5. Check out our interview with Landon Downs from 1Qbit here: www.nanalyze.c...
CHAPTERS:
Intro
IONQ's volatile share price
Quantum computing is still emerging
Good news for IONQ
IonQ's cash situation
Why we wouldn't buy IONQ stock
How to buy IONQ stock
Conclusion
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