1 Quantum Computing Stock Everyone's Ignoring While IonQ Gets the Headlines
Who tests the quantum chips that IonQ's rivals are building? FormFactor does, and almost nobody is talking about it.
Overview
IonQ (NYSE: IONQ) had a busy August. The company signed a memorandum of understanding with CMC Microsystems on Aug. 18 to become a listed cloud access provider for Canada's FABrIC Quantum Computing Sandbox. That was the third such deal in three weeks. In the second-quarter report, IonQ's revenue hit $80.1 million, up 287% year over year.
That's exciting. But while IonQ collects the headlines, the companies that test everyone else's quantum chips barely get mentioned.
Details
FormFactor (NASDAQ: FORM) sells probe cards and cryogenic test equipment to the semiconductor industry. The company gets plenty of press coverage, but not about its quantum computing projects. Those quantum products are a small part of FormFactor's much larger business, with record Q2 revenue of $258.2 million and a 20% free cash flow margin, which is exactly why the stock rarely appears on quantum screens.
Source
Originally published at www.fool.com.