Can IonQ Become the First $100 Quantum Computing Stock? - Money Morning

AI & ROBOTICS Can IonQ Become the First $100 Quantum Computing Stock? Money Morning Team March 10, 2026 Quantum computing exploded onto the scene in 2024, with several players surging thousands of percent higher from their prior penny stock levels before sharply declining. While the ardor mostly cooled throughout 2025, and quantum stocks barely made headlines anymore, several breakthroughs later in the year brought them to the fore again and IonQ (IONQ) emerged as the industry frontrunner. In early October, IONQ’s stock almost reached $85 per share before pulling back again. With the stock trading around $37 today, can it reclaim its former glory and go on to hit $100 a share? Technological Advances Propel IONQ Forward IonQ has solidified its leadership through groundbreaking hardware improvements. In 2025, the company achieved a world-record 99.99% two-qubit gate fidelity using electronic qubit control technology – an unprecedented level of precision that minimizes errors and accelerates the timeline to practical, fault-tolerant quantum systems. This milestone outperforms many rivals and validates IonQ’s trapped-ion architecture as highly scalable and reliable for real-world applications. The upcoming IonQ Tempo system promises another leap, delivering significantly higher qubit counts and performance for complex problems in drug discovery, materials science, financial modeling, and optimization. These advances have already enabled customers to report up to 20x faster results in hybrid quantum-classical workflows, positioning IonQ ahead of competitors still grappling with noise and scalability issues. Strategic Partnerships and a Landmark Defense Contract Commercial traction is accelerating through high-profile partnerships. IonQ has forged deep integrations with Amazon's (AMZN) AWS, Nvidia (NVDA), and AstraZeneca (AZN), allowing enterprises to harness quantum power for logistics, cybersecurity, and pharmaceutical R&D. Collaborations with Nvidia, in particular, enhance hybrid computing platforms, while AWS provides seamless cloud access to IonQ systems for global clients. On the government side, IonQ just landed its biggest win yet. In late February, the company was selected for the Missile Defense Agency’s $151 billion SHIELD IDIQ contract. This multi-year vehicle qualifies IonQ to bid on task orders for advanced defense simulations, cybersecurity, and homeland security applications – building on prior DARPA and Air Force Research Laboratory work. The award not only validates IonQ’s technology for national-security needs but also opens potentially massive, recurring revenue streams in a sector where quantum advantages could prove decisive. Wall Street remains bullish on the stock with a moderate buy rating and a $69 per share target. However, Rosenblatt Securities last week staked a Street-high price target of $100, citing accelerating commercial adoption, the defense contract momentum, and IonQ’s clear technological edge. Bottom Line Can IonQ hit $100? The path is plausible given its first-mover status in reliable quantum hardware, expanding ecosystem of partnerships, and fresh foothold in massive defense spending. There does seem an argument to be made for the long-term growth of the space as quantum moves from labs to real revenue. Yet significant technical, execution, and market risks remain, including competition, the long road to full-scale fault tolerance, and macroeconomic swings. For that reason, IONQ remains appropriate only for the most risk-tolerant investors with long-term horizons who believe in quantum’s potential and are comfortable with extreme volatility.