IonQ Could Be One of the Most Important Tech Stocks of the Next Decade

Buying and holding top technology stocks for the long run is one of the best ways to make money in the stock market, as companies in this sector can grow at above-average rates by capitalizing on disruptive trends.

Nvidia, for example, has been one of the most important tech stocks in the past 10 years. The semiconductor specialist has benefited from multiple growth trends, including gaming, automotive, and, most importantly, artificial intelligence (AI). An investment of just $1,000 made in Nvidia stock a decade ago is now worth over $272,000.

That's why I think it may be a good idea for investors to invest some of their investible cash in shares of IonQ (NYSE: IONQ). This company operates in a fast-growing industry capable of surging impressively in the next decade.

Let's look at the reasons why IonQ could turn out to be one of the most important tech stocks of the coming decade.

Image source: Getty Images.

Quantum computing's growth could supercharge IonQ in the long run

IonQ is a company that manufactures quantum computers, which rely on quantum mechanics to solve problems at exponentially faster rates when compared to traditional computers. Specifically, quantum computers offer massive parallel computing power that can be deployed in areas such as drug discovery, AI, and more.

The company also operates a cloud platform, which allows customers to access its quantum computing infrastructure on demand to run workloads without investing in expensive hardware. It has been pulling the right strings in the quantum computing market by enhancing the accuracy of its machines. Investors will do well to note that error rates have been limiting the adoption of quantum computing. These errors are caused by multiple factors, including an unstable environment due to unsuitable temperatures, heat, vibration, or electromagnetic fields.

Correcting these errors is costly, which is why companies such as IonQ are focusing on building fault-tolerant quantum computers. IonQ pointed out in October 2025 that it became "the first and only quantum computing company" to achieve two-qubit gate fidelities of 99.99%. In simpler terms, IonQ achieved almost error-free performance. The two-cubit gate performance refers to the accuracy of an operation performed by the quantum computer, hereby known as fidelity.

IonQ has achieved this accuracy thanks to its trapped-ion technology, known for its high fidelity rates and low error rates, achieved by trapping ions in a vacuum and protecting them from environmental factors that could cause instability and, therefore, lead to higher error rates. Importantly, IonQ believes that it can unlock "more complex applications for customers sooner and a thousands of time reduction in logical error rates" by 2030.

As a result, there is a good chance that IonQ will become a key player in the global quantum computing market, which is expected to gain tremendous traction in the future. According to McKinsey, the quantum computing market could generate a whopping $72 billion in revenue by 2035, compared to $4 billion in 2024.

IONQ Revenue (TTM) data by YCharts.

The overall quantum technology market, including quantum communication and quantum sensing, could be worth $97 billion in 2035 and $198 billion in 2040. As IonQ serves all these areas, the company has a huge addressable market that could help supercharge its growth in the long run. The good news is that IonQ has been growing at a nice clip of late. Even better, analysts expect a solid surge in the company's revenue going forward, as evident from the following chart.

IONQ Revenue Estimates for Current Fiscal Year data by YCharts.

The stock is expensive, but investors shouldn't miss the bigger picture

IonQ is a small company right now, but it has been growing at an incredible pace. Additionally, the multibillion-dollar quantum computing market opportunity suggests it may sustain solid growth for the long term.

These are the reasons why investors may want to look past IonQ's price-to-sales (P/S) ratio of 158. Of course, the multiple is significantly higher than the U.S. tech sector's average sales multiple of 8.8. Still, it can be justified by the stunning growth the company is clocking and the disruptive nature of quantum technology that could send this market soaring in the long run.

Additionally, IonQ appears to be making solid progress toward mainstream adoption of quantum computers by reducing error rates. The company has over 1,100 patents, both granted and pending, which suggests that it has a wide technological moat. Moreover, IonQ points out that the cost of its quantum computers is 30x lower than competitors, which puts it in a nice position to make the most of the lucrative opportunity on offer.

Throw in a strong balance sheet with just $28 million in debt and almost $1.1 billion in cash, and it's evident that IonQ is in a strong position to capitalize on the long-term quantum computing opportunity by investing in product development and also by way of acquisitions. All this makes IonQ a top growth stock to buy for the next decade.

Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends IonQ and Nvidia. The Motley Fool has a disclosure policy.