Quantum Stocks Have Pulled Back Lately. Bank of America Says It’s Time to Buy This One
Quantum Stocks Have Pulled Back Lately. Bank of America Says It’s Time to Buy This One
Aaron McDadeMon, September 28, 2026 at 7:50 PM UTC
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IonQ shares have pulled back about 40% from their summer peak.Credit: Sheldon Cooper / SOPA Images / LightRocket via Getty ImagesKey Takeaways -
Bank of America initiated coverage of IonQ with a “buy” rating and a $60 price target on Monday.
The analysts pointed to IonQ’s scale and broad customer base, along with recent acquisitions.
Quantum computing stocks have pulled back in recent months. Bank of America says it’s time to buy one stock in the sector.
Analysts at the bank on Monday launched coverage of IonQ (IONQ), the largest publicly traded pure-play quantum company by revenue, with a “buy” rating and $60 price target. Shares of the quantum computing firm were down less than 1% to $45 in recent trading, on a day when the broader tech sector lost ground.
The analysts pointed to IonQ’s scale and broad customer base, along with recent acquisitions that have “added nearer-term products and revenue, enterprise & sovereign customer relationships, and additional commercialization paths.”
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Optimism around the potential benefits of quantum computing technology and its potential to solve more complex problems than traditional computers has boosted stocks of firms developing the technology in recent years. Breakthroughs by high-profile firms including Alphabet (GOOGL) and IBM (IBM), along with investments from Nvidia (NVDA), have also helped introduce the technology to a wider range of investors.
IonQ shares remain in positive territory for the year, but have lost about 40% from their May highs.
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Source: “AOL Money”
