IonQ Inc (NYSE:IONQ) shares are trading higher on Tuesday. The company announced a significant technological advancement in its pursuit of scalable quantum networks.
What To Know: IonQ said it successfully demonstrated the frequency conversion of photons from visible wavelengths used to interface with trapped barium ions, into telecom wavelengths on a prototype system.
Reaching this milestone creates a path forward for interconnecting quantum computers over broad distances using the current existing fiber optic infrastructure. The prototype demonstration also signifies a major advancement in the company’s long-term vision for the quantum internet.
“Working closely with AFRL, we are the first quantum company to demonstrate the ability to convert visible signals to telecom wavelengths,” said Niccolo de Masi, chairman and CEO of IonQ.
“We will soon connect two quantum computers over standard wavelengths, opening the floodgates for broadly networked quantum devices using commercial fiber infrastructure.”
IonQ said this technology is directly relevant to the future infrastructure needs of telecom companies and network providers and paves the way for future commercial opportunities in distributed quantum computing and quantum communication.
IONQ Analysis: The stock shows strong momentum with a recent price increase indicating positive sentiment. IonQ has a strong momentum score of 99.32/100, according to Benzinga’s Edge rankings.
The MACD shows a bullish crossover, with the MACD line at 1.25 and the signal line at 0.95, reinforcing the upward momentum. A potential ascending triangle pattern is forming, suggesting a breakout could be imminent if the stock can maintain momentum.
Volume is robust, suggesting heightened interest and potential continuation of the trend. Support is established at $71.50, where recent buying pressure has emerged. The RSI is calculated at 65.30, indicating the stock is approaching overbought territory, which could signal a pullback or consolidation.
IONQ Price Action: IonQ shares were up 3.38% at $74.37 at the time of publication on Tuesday, according to Benzinga Pro.
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Photo: courtesy of IonQ.
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