Quantum company IonQ climbs as BofA joins bull camp

BofA analyst Vivek Arya said IonQ is the largest public pure-play quantum company by revenue, citing its semiconductor-enabled approach to scaling qubit count and its customer engagement and exposure across quantum computing, communications and sensing. Arya said the company’s next-generation Superion 256 system will be the first to use electronic qubit control on silicon, which could support substantial logical-qubit scaling.

Arya said IonQ’s recently closed SkyWater acquisition adds an operating merchant-foundry business and brings process development, wafer fabrication and advanced packaging in-house. Of 15 brokerages covering IonQ, 12 rate the stock buy or strong buy and three rate it hold; the median price target is $65.