10 AI News And Ratings on Wall Street’s Radar

8. IonQ Inc. (NYSE:IONQ)

Number of Hedge Fund Holders: 17

IonQ Inc. (NYSE:IONQ) is a quantum computing firm that develops and manufactures quantum computers that use trapped ions as qubits to solve complex problems, including those in the fields of AI, finance, medicine, chemistry, and logistics. The company’s quantum computers are available through major cloud providers. IonQ Inc. (NYSE:IONQ) recently announced that it has successfully loaded classical data onto quantum states to enable efficient and robust quantum machine learning with high accuracy and faster speeds than classical computers.

On January 27th, Needham analyst N. Quinn Bolton increased IonQ Inc.’s (NYSE:IONQ) stock price target to $54 from $18 and maintained a “Buy” rating. Similar to D-Wave Quantum Inc. (NYSE:QBTS), the brokerage said pure-play quantum computing firms, including IonQ Inc. (NYSE:IONQ) are poised to benefit from the recent technical breakthrough, increasing dollar value of quantum awards and growing recognition of quantum computing as a potential way to disrupt the computing market in the coming decade.