IonQ (IONQ) stock gained 2% on Thursday after the company, in partnership with Ansys (ANSS), a software company, disclosed a breakthrough in quantum computing. The companies showed that quantum computing can work better than classical methods for designing medical devices.
By using IonQ’s quantum system, IonQ Forte, Ansys simulated blood pump dynamics to improve designs and boost efficiency. This hybrid approach was 12% faster than classical computing, marking an important step toward using quantum technology in real-world applications.
IONQ’s Other Major Achievements
This is not IonQ’s first achievement in the quantum computing world. In October 2024, the company achieved remote ion-ion entanglement, which involves linking two qubits in separate ion traps by using photons. This process creates a quantum link between the qubits, which is key to building larger, scalable quantum systems.
Also, in September 2024, IonQ’s barium-based quantum system surpassed 99.9% two-qubit gate fidelity. This greatly improves the accuracy and reliability of quantum computing, while also reducing errors and enabling high-performance, enterprise-grade usage.
Together, these advancements point to IonQ’s strong position in the quantum computing sector and its growing potential to solve real-world challenges.
Is IonQ a Good Stock to Buy?
Turning to Wall Street, IONQ stock has a Moderate Buy consensus rating based on four Buys and two Holds assigned in the last three months. At $41.60, the average IonQ stock price target implies a 96.78% upside potential.
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