Stay informed with our free disruptive technology investing newsletter, Nanalyze Weekly. Signup now at https://www.nanalyze.com/nanalyze-weekly/. This episode is pulled from a YouTube presentation. View the original presentation at https://youtu.be/N09PrgOVDO8.

IONQ stock has a hype problem. It's extremely overvalued compared to the other two publicly traded quantum computing stocks out there. While they have managed to achieve meaningful revenues of $11 million, and they're expecting $18 million for this year, they only have three customers accounting for most of their revenues (they don't tell us the exact amount). They also don't break down services vs QCaaS revenues, not to mention more then a third of their revenues come from a related party. We wouldn't consider investing in $IONQ stock unless they realized $50 million in revenues along with a market cap of at least $1 billion. Given their forecasted revenues of $18.6 million for 2023, we wouldn't pay more than $1.85 a share for $IONQ stock which represents a simple valuation ratio of 20. IonQ is an overpriced stock that we wouldn't consider investing in because there's just way too much hype.

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