IonQ (IONQ) stock is diving today following a warning from Nvidia (NVDA) CEO Jensen Huang about the state of quantum computing. During the 2025 Consumer Electronics Show (CES) Huang said quantum computing is still a far way off. The NVDA CEO said it works with companies in this sector, but quantum computers are still 15 years away at a minimum and 30 years away at the latest.
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Huang’s statement on quantum computing is hurting stocks in the sector, including IonQ. The company’s shares were down 41.62% as of Wednesday morning. That’s taking the wind out of the stock after it experienced an updraft alongside others in the sector late last year.
Today’s stock drop is fueled by a selloff of IONQ shares. This brings with it heavy trading of the stock with more than 47 million units traded as of this writing. That’s nearly double the stock’s three-month daily average trading volume of about 26 million shares.
What’s Next for IonQ Stock?
It’s unclear how much damage the Nvidia CEO’s comments will do to IONQ stock, but they could start a multi-day slump for the shares. Waiting 15 to 30 years is a long time for even the most patient of long-term investors, meaning many shareholders may exit their positions in IonQ to pursue more timely investments.
It’s also not surprising that IONQ stock is seeing such massive drops. The quantum computing sector underwent a massive rally over the last couple of months but didn’t have the news and progress to warrant that attention. Instead, most of that hype was on the coattails of Alphabet’s (GOOGL) Google announcing a potential quantum computing breakthrough.
Is IONQ Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for IonQ is Strong Buy based on four Buy and one Sell ratings over the last three months. With that comes an average price target of $40, a high forecast of $50, and a low of $18. This represents a potential 40.8% upside for IONQ shares.
