IONQ Pivots From Trapped Ions to Hybrid Strategy for Quantum Advantage

IONQ's trapped ion qubit technology likely won't scale sufficiently to achieve quantum advantage or supremacy. The company seems to have accepted this and is looking at alternative strategies.

IONQ is pursuing near-term commercial applications with its existing systems while considering acquiring a company with a more scalable qubit technology in the future.

New qubit technologies like neutral atoms show more potential to scale to the thousands of error-corrected qubits needed for quantum advantage.

In the near term, IONQ remains the only company selling quantum computers and is building sales and reputation. But long-term prospects depend on acquiring better qubit technology.

To justify a "buy" rating, IONQ would need to show a path to quantum advantage, either through scaling trapped ions or acquiring a more scalable qubit technology.