This Brilliant Quantum Computing Stock Could Double in a Year

Quantum computing is coming faster than most investors realize, and next year could be a major rebound year for the stocks of some contenders in the space. One that I've got my eye on is IonQ (NYSE: IONQ). It is generally recognized as one of the top quantum computing pure-play companies, and is taking a different approach to the technology than most.

It has some impressive products in development that it expects to roll out in early 2027, and their arrival could ignite renewed interest in its stock. If it does, I could see the stock doubling over the next year. That would make it a no-brainer buy now, but how will it get it done?

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IonQ is on the doorstep of a major breakthrough

There are two primary problems with quantum computing right now. First, quantum computers aren't accurate enough to be useful in commercial settings. IonQ's quantum computers hold the world record for the best 2-qubit gate fidelity, which measures how accurate a calculation is after passing through two operations. That world-record score is 99.99%, or about one error in every 10,000 operations. Most of its competitors are below 99.9%, which in this arena is a huge gap.

The second problem is that the various contenders have not yet built quantum computers powerful enough to handle the types of computations that real-world users seek to put the tech to work on. IonQ is about to release its 256-qubit system, which will be one of the largest available. Combine that with its best-in-class accuracy, and this product could be a huge win for IonQ. It's due out in early 2027, and it already has a handful of preorders. If this early-stage quantum computing initiative is successful, it could drive demand for more as companies seek to prepare for the quantum computing revolution that could be coming.

In some ways, it's an exciting time to be an IonQ investor, but the stock's action has not reflected that. It reached its peak just over a year ago, and it's now down by around 60% from that level -- back to where it was trading in late 2024. So, in order for the stock to double, it would need to return to the high range it traded in last year. But IonQ's recent successes could start a buying spree for its stock.

IonQ has delivered strong revenue growth recently, although much of that came from acquisitions. Still, IonQ estimates that it is delivering 100% or greater organic revenue growth, indicating that its legacy business units are still delivering a large chunk of its growth.

IONQ Revenue (Quarterly YoY Growth) data by YCharts.

All of this adds up to a company that has a bright future, and if IonQ's new 256-qubit quantum computer receives a positive reception from potential buyers, the stock could be primed to surge higher.

Keithen Drury has positions in IonQ. The Motley Fool has positions in and recommends IonQ. The Motley Fool has a disclosure policy.