IonQ (NYSE: IONQ) has surged 61% year-to-date, driven by optimism in quantum computing, yet trades at an astonishing 292 times trailing sales, reminiscent of the late 1990s dot-com bubble. In contrast, industry leader IBM (NYSE: IBM) has partnered with HSBC for the first quantum algorithmic trading at just four times sales, highlighting IonQ’s high-risk valuation that could lead to significant losses for investors.
