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IonQ Surged Over 290% in 2023, But Is It a Buy?

TheMotleyFool

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IonQ Surged Over 290% in 2023, But Is It a Buy?: https://g.foolcdn.com/editorial/images/759453/quantum-computing-quibit-chip.jpg

Quantum-computing pioneer IonQ (NYSE: IONQ) soared in 2023. On the morning of December 27, the stock had gained a cool 299% year to date, outperforming every member of the S&P 500 (SNPINDEX: ^GSPC) index by a wide margin. Only a handful of hypervolatile stocks and jumpy cryptocurrencies outperformed IonQ this year.

So IonQ is on a roll, but where will the stock go from here? Is the rocket ride running out of quantum-powered fuel, or was this just the start of a soaring long-term trend?

Let's have a look.

Source Fool.com

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