Why Wall Street Can’t Stop Betting on IonQ Stock in 2025

Quantum computing just became Wall Street's new shiny object—and IonQ is riding the hype wave.

### The Quantum Gold Rush

Forget AI. Hedge funds are now pouring cash into quantum plays, and IonQ's trapped-ion tech has them drooling. No revenue? No problem—this is about potential disruption.

### Short Sellers Beware

The stock's 300% run this year already vaporized skeptics. Now institutions are piling in, betting quantum advantage arrives before the bubble pops.

### The Cynical Take

Let's be real—half these bankers couldn't explain a qubit if their bonuses depended on it. But when has that ever stopped a good momentum trade?

Image source: Getty Images.

Why investors focus on IonQ

Investors likely focus on IonQ because they see quantum computing as the next big thing and see the possibility that buying such a company while it is small could lead to considerable returns over time.

Indeed, one only needs to look at the historical returns from innovations such as the personal computer, the internet, and, more recently, the rise of artificial intelligence (AI) to know innovation can deliver massive returns. Assuming quantum technology can succeed in the marketplace, it can also hold such potential.

Moreover, it recently developed a prototype that could lead to relatively compact, room-temperature quantum systems. This is notable since current quantum systems often take up the space of an average room and require temperatures NEAR absolute zero.

Unfortunately for IonQ, most of its revenue has come from research-related products, indicating that, at least for now, quantum computing is a solution without a problem.

In the first quarter of 2025, IonQ generated just $7.6 million in revenue. That's a small fraction of its $83 million in costs and expenses for the same period, raising questions about whether it can ever turn a profit.

Furthermore, investors may question its remaining growth potential. The stock ROSE by about 420% over the last year. That gives it a market cap of over $10 billion, a massive size for a company generating only $7.6 million in quarterly revenue. Not surprisingly, that growth results in a price-to-sales (P/S) ratio of 208, a high level even for a fast-growing stock.

Ultimately, the potential of quantum computing and IonQ's innovations make the stock intriguing. However, it is likely too expensive and too unproven for investors to consider at this time.