Original Coverage & Source Attribution: www.theglobeandmail.com
Quantum computing is heating up, and there could be some breakthroughs over the next few years. IonQ(NYSE: IONQ) is one of the leaders in this space and is generating pretty sizable revenue figures for still being in a start-up stage. However, it remains to be seen whether it’s a viable investment, as IonQ hasn’t released any commercially viable equipment and is relying on partnerships and outside funding to keep its business going.
2027 could be a huge year for the company, as it has a major product launch coming that could dramatically accelerate its business trajectory. That could lead to huge upside for the beaten-down stock, potentially being worth $80 by the end of 2027 — over a double from today’s levels.
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IonQ’s new computer will be a game changer for the industry
Next year, IonQ’s 256-qubit system is expected to launch and utilize the same technology that set the world record for quantum computing accuracy. This is a big deal, as the two hurdles any quantum computing competitor must clear are accuracy and size.
Quantum computing can be done right now; the question is whether you can trust the results. Some of the best companies in this industry are struggling to achieve 99.9% 2-qubit fidelity, which means that the quantum computer will make an error after passing through two operations one time out of every 1,000 operations. That’s a major problem, and with complex calculations, it could lead to a computing error effect. IonQ’s technology has achieved 99.99% fidelity. While that extra 0.09% may not sound like a lot, that pushes the threshold to one error in every 10,000 operations. IonQ’s accuracy is better than everyone else’s because it uses a different quantum computing technique, known as trapped-ion quantum computing. This pathway trades off computing speed for accuracy, and that could give IonQ a leg up on every competitor, especially in the early stages of quantum computing.
Next up is size. Companies have struggled to make scalable quantum computers that can handle commercial-level problems. IonQ is taking the next step by launching its 256-qubit computer in early 2027, for which it already has several preorders. This will be an innovative system and could even provide some commercial viability. However, IonQ has repeatedly stated that it believes a 10,000-qubit computer will be necessary to achieve commercial viability. IonQ has a road map to building its 10,000-qubit computer, which it believes will be fault-tolerant, leading to nearly perfect accuracy.
If IonQ can achieve this, the sky is the limit for the stock, as it will easily be one of the top players in this space. But what would a short-term investment look like by the end of next year?
Quantum computing stocks have been heavily sold off
Because IonQ isn’t really a viable business right now and is a more speculative investment, its stock rises and falls with the risk tolerance of the market. The market is currently in a risk-off state, and quantum computing stocks have really struggled. IonQ is no exception, down about 65% from its all-time high set in October 2025.
However, IonQ’s business has grown, and the stock isn’t as expensive as it once was (though it’s still pricey). When next year’s projections are priced in, it doesn’t look so bad.
IONQ PS Ratio data by YCharts
I wouldn’t be surprised to see IonQ regain its old swagger if the launch of its 256-qubit system is successful. I think that could send the stock back to all-time-high levels of over $80 per share, which would be a sizable gain from today’s $30 levels. As a result, the stock looks like a buy here.
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Keithen Drury has positions in IonQ. The Motley Fool has positions in and recommends IonQ. The Motley Fool has a disclosure policy.
