IonQ Inc (NYSE:IONQ) shares are volatile Thursday, trading approximately 5% lower in the morning before flattening out by the afternoon. This movement correlates with a broader tech sector downturn triggered by Oracle Corp’s (NYSE:ORCL) mixed second-quarter earnings report.
- IonQ shares are volatile Thursday. What’s ahead for IONQ stock?
What To Know: Oracle reported second-quarter revenue of $16.06 billion, missing analyst estimates of $16.21 billion. While Oracle posted massive 438% growth in Remaining Performance Obligations, the revenue miss sparked a sell-off, dragging down high-growth tech stocks.
The link between Oracle's stumble and IonQ's volatility lies in the fragility of the current AI narrative. Oracle has positioned itself as a pillar of AI infrastructure, highlighting unprecedented demand for cloud services and AI training.
When a foundational player like Oracle misses revenue targets despite high demand, it signals to the market that monetizing AI infrastructure may be slower or more capital-intensive than projected.
IonQ, which is aggressively positioning itself at the intersection of quantum computing and AI, recently partnering with CCRM to accelerate drug discovery via quantum-AI technologies, trades heavily on this future sentiment.
As investors reassess the timeline for AI returns following Oracle’s miss, capital retreats from speculative, pre-profit stocks like IonQ first, causing exaggerated volatility compared to established titans.
Benzinga Edge Rankings: Despite the volatility, Benzinga Edge rankings assign IonQ a high Momentum score of 88.19, indicating strong recent price performance relative to the market.
IONQ Price Action: IonQ shares were up 1.95% at $52.72 at the time of publication on Thursday, according to Benzinga Pro data.
The stock is currently trading approximately 10.8% below its 50-day moving average of $58.21, indicating a potential resistance level that may need to be overcome for further bullish momentum.
In contrast, IonQ is trading approximately 21.4% above its 200-day moving average of $42.75, suggesting a strong long-term trend and underlying strength in the stock.
Read Also: Dow Jones Hits Record Highs, Oracle Sinks On AI Concerns: What’s Moving Markets Thursday?
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