Jim Cramer on IonQ, Inc. (IONQ): “It’s Too Speculative for Me”

We recently published a list of Jim Cramer Put These 14 Stocks Under the Microscope. In this article, we are going to take a look at where IonQ, Inc. (NYSE:IONQ) stands against other stocks that Jim Cramer discusses.

A caller asked if IonQ, Inc. (NYSE:IONQ) stock’s current valuation makes sense given that the company has acquired government contracts. In response, Cramer said:

“Oh my god, it’s so high and it’s losing so much money, but it’s quantum. If I offer you a considered explanation of why I think that stock’s too expensive, most people ignore it, so all I’m going to say is it’s too speculative for me. I don’t know what else to say.”

A quantum computer on a countertop in an engineering laboratory with a technician at work.

IonQ (NYSE:IONQ) develops and sells access to quantum computers. Additionally, the company provides related hardware and cloud services, and works on technologies like quantum networking, detection systems, and algorithm development. In January, appearing on Squawk on the Street, Cramer commented:

“But frankly, I’m going to use the word chimerical, in the sense that these companies, none of these companies, have much in terms of revenue. Except for IONQ.”

Overall, IONQ ranks 12th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of IONQ as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than IONQ and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.