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QUBT vs. IONQ: Which Quantum Stock Should You Buy, Hold or Sell Now?
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Key Takeaways
QCi's Fab 2 expansion and NeuraWave demand support its photonic quantum commercialization strategy.
QUBT trades at 43.22X forward sales, while its average analyst target implies 104.71% upside.
IonQ raised its 2026 revenue outlook to $450-$460 million after completing the SkyWater acquisition.
Quantum Computing (QUBT - Free Report) or QCi and IonQ (IONQ - Free Report) are key quantum technology stocks pursuing commercial quantum computing. QUBT emphasizes room-temperature photonic systems, while IonQ focuses on trapped-ion quantum computing, making them two relevant quantum stocks for investors to consider amid the ongoing quantum boom. In the past six months, QUBT shares have risen 26.6%, while IONQ has gained 50.7%, compared with an 18.8% increase in the S&P 500.
During the second quarter, QCi’s revenues totaled $5.6 million compared with $61,000 in the second quarter of 2025 and $3.7 million in the first quarter of 2026. IonQ recognized $80.1 million in revenues during the quarter, 20% above the midpoint of its previously provided guidance and representing 287% year-over-year growth.
Image Source: Zacks Investment Research
The Case for QUBT
QCi is expanding its manufacturing infrastructure with the launch of Fab 2 following its acquisition of NHanced Semiconductors. The expanded U.S.-based footprint could improve production flexibility, strengthen supply-chain resilience and support the development of advanced photonic chips for quantum computing, AI, networking, secure communications and defense applications.
QCi is also advancing its quantum computing strategy through Entropy Quantum Computing (“EQC”). Its Dirac-3 platform reflects the company’s focus on applying EQC to practical computing applications without relying on the highly controlled environments typically associated with conventional quantum systems.
Demand for photonic reservoir computing in edge AI is supporting QCi’s NeuraWave platform. The company recently received a purchase order and entered into a framework agreement with Planck Dynamics to deploy NeuraWave as a foundational platform for next-generation AI applications.
Yet, QCi faces a key risk as strong revenue growth has not yet translated into positive profitability. This suggests that production volumes remain insufficient to efficiently absorb manufacturing-related fixed costs. Recent acquisitions have expanded QCi’s technology and manufacturing capabilities while also introducing integration and execution risks. Higher production volumes, backlog conversion and disciplined expense management will be critical to improving profitability.
Valuation: QUBT vs. IONQ
QCi currently trades at a forward one-year price-to-sales (P/S) of 43.22X, much lower than its median. IonQ’s 24.68X P/S also sits below its median.
Image Source: Zacks Investment Research
The Case for IONQ
IonQ completed the SkyWater acquisition, adding semiconductor manufacturing and advanced packaging capabilities to its quantum platform. IonQ updated its 2026 revenue outlook to $450-$460 million (previously $280-$290 million), including SkyWater's contribution from the acquisition date through year-end.
The company also launched its Superion 256 platform, its sixth-generation quantum computing platform, with first customer deliveries expected in 2027. Superion consumes less power than a rack of GPUs and features a cooling system designed to integrate into typical data center environments.
IonQ is developing its 256 and 10K generations concurrently. The 10K is the first hardware generation designed to run IonQ’s Walking Cat architecture, a blueprint published in April 2026 that outlines how applications compile into instructions, how errors are corrected and how ions move across the chip. IonQ expects the shift from laser-based to semiconductor-based control to reduce cost per qubit by more than 300x across its roadmap.
However, these milestones support the longer-term growth case without immediately changing IonQ’s financial profile. Delays in fabrication, commissioning or integration could extend conversion cycles and increase roadmap costs. The second-quarter adjusted EBITDA loss was $120.3 million, indicating the substantial investment still required to scale the platform.
Bullish Price Target for QUBT Over IONQ
Based on short-term price targets offered by six analysts, the average price target for QCi is $18.67. The average price target represents an increase of 104.71% from the last closing price of $9.12.
Image Source: Zacks Investment Research
Based on short-term price targets offered by 12 analysts, the average price target for IonQ $69.25. The average price target represents an increase of 62.79% from the last closing price of $42.54.
Image Source: Zacks Investment Research
Our Take
Both QCi and IonQ benefit from exposure to the growing quantum computing market. QCi offers commercialization potential through photonic technology, Fab 2 expansion and NeuraWave demand, though losses, integration risks and the need to scale production remain concerns. IonQ’s SkyWater acquisition, Superion 256 launch and semiconductor-based roadmap support long-term growth, but high investment needs, execution risks and significant EBITDA losses remain key challenges.
QUBT carries a Zacks Rank #3 (Hold), while IonQ has a Zacks Rank #4 (Sell). Given the stronger Zacks Rank and a more favorable price target, investors may consider retaining QUBT while exiting IONQ, despite both stocks posting similar recent gains.
View the Zacks #1 Rank List
Image: Bigstock
QUBT vs. IONQ: Which Quantum Stock Should You Buy, Hold or Sell Now?
Key Takeaways
Quantum Computing (QUBT - Free Report) or QCi and IonQ (IONQ - Free Report) are key quantum technology stocks pursuing commercial quantum computing. QUBT emphasizes room-temperature photonic systems, while IonQ focuses on trapped-ion quantum computing, making them two relevant quantum stocks for investors to consider amid the ongoing quantum boom. In the past six months, QUBT shares have risen 26.6%, while IONQ has gained 50.7%, compared with an 18.8% increase in the S&P 500.
During the second quarter, QCi’s revenues totaled $5.6 million compared with $61,000 in the second quarter of 2025 and $3.7 million in the first quarter of 2026. IonQ recognized $80.1 million in revenues during the quarter, 20% above the midpoint of its previously provided guidance and representing 287% year-over-year growth.
Image Source: Zacks Investment Research
The Case for QUBT
QCi is expanding its manufacturing infrastructure with the launch of Fab 2 following its acquisition of NHanced Semiconductors. The expanded U.S.-based footprint could improve production flexibility, strengthen supply-chain resilience and support the development of advanced photonic chips for quantum computing, AI, networking, secure communications and defense applications.
QCi is also advancing its quantum computing strategy through Entropy Quantum Computing (“EQC”). Its Dirac-3 platform reflects the company’s focus on applying EQC to practical computing applications without relying on the highly controlled environments typically associated with conventional quantum systems.
Demand for photonic reservoir computing in edge AI is supporting QCi’s NeuraWave platform. The company recently received a purchase order and entered into a framework agreement with Planck Dynamics to deploy NeuraWave as a foundational platform for next-generation AI applications.
Yet, QCi faces a key risk as strong revenue growth has not yet translated into positive profitability. This suggests that production volumes remain insufficient to efficiently absorb manufacturing-related fixed costs. Recent acquisitions have expanded QCi’s technology and manufacturing capabilities while also introducing integration and execution risks. Higher production volumes, backlog conversion and disciplined expense management will be critical to improving profitability.
Valuation: QUBT vs. IONQ
QCi currently trades at a forward one-year price-to-sales (P/S) of 43.22X, much lower than its median. IonQ’s 24.68X P/S also sits below its median.
Image Source: Zacks Investment Research
The Case for IONQ
IonQ completed the SkyWater acquisition, adding semiconductor manufacturing and advanced packaging capabilities to its quantum platform. IonQ updated its 2026 revenue outlook to $450-$460 million (previously $280-$290 million), including SkyWater's contribution from the acquisition date through year-end.
The company also launched its Superion 256 platform, its sixth-generation quantum computing platform, with first customer deliveries expected in 2027. Superion consumes less power than a rack of GPUs and features a cooling system designed to integrate into typical data center environments.
IonQ is developing its 256 and 10K generations concurrently. The 10K is the first hardware generation designed to run IonQ’s Walking Cat architecture, a blueprint published in April 2026 that outlines how applications compile into instructions, how errors are corrected and how ions move across the chip. IonQ expects the shift from laser-based to semiconductor-based control to reduce cost per qubit by more than 300x across its roadmap.
However, these milestones support the longer-term growth case without immediately changing IonQ’s financial profile. Delays in fabrication, commissioning or integration could extend conversion cycles and increase roadmap costs. The second-quarter adjusted EBITDA loss was $120.3 million, indicating the substantial investment still required to scale the platform.
Bullish Price Target for QUBT Over IONQ
Based on short-term price targets offered by six analysts, the average price target for QCi is $18.67. The average price target represents an increase of 104.71% from the last closing price of $9.12.
Image Source: Zacks Investment Research
Based on short-term price targets offered by 12 analysts, the average price target for IonQ $69.25. The average price target represents an increase of 62.79% from the last closing price of $42.54.
Image Source: Zacks Investment Research
Our Take
Both QCi and IonQ benefit from exposure to the growing quantum computing market. QCi offers commercialization potential through photonic technology, Fab 2 expansion and NeuraWave demand, though losses, integration risks and the need to scale production remain concerns. IonQ’s SkyWater acquisition, Superion 256 launch and semiconductor-based roadmap support long-term growth, but high investment needs, execution risks and significant EBITDA losses remain key challenges.
QUBT carries a Zacks Rank #3 (Hold), while IonQ has a Zacks Rank #4 (Sell). Given the stronger Zacks Rank and a more favorable price target, investors may consider retaining QUBT while exiting IONQ, despite both stocks posting similar recent gains.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.