IONQ & DESY Partner to Optimize Airport Gate Management

IonQ IONQ collaborated with a German-based research center for fundamental science — Deutsches Elektronen-Synchrotron (DESY) to run combinatorial optimization problems on IonQ Aria.

Early findings from the research show that quantum computing may be a more efficient way to solve equations involving several variables in a crowded setting, like a busy airport, than standard classical computing.

The research focused on improving airport gate management by efficiently scheduling inbound and outbound flights to minimize traveler wait times and idle plane durations. The company used 'logarithmic-linear encoding', which devised algorithms to optimize flight-gate assignments.

IonQ, Inc. Price and Consensus

IonQ, Inc. Price and Consensus

IonQ, Inc. price-consensus-chart | IonQ, Inc. Quote

IonQ plans to extend this approach to larger-scale optimization tasks using IonQ Forte and IonQ Tempo, targeting the needs of regional European airports.

Per a report from Fortune Business Insights, the quantum computing market size is projected to grow from $928.8 million in 2023 to $6,528.8 million by 2030, at a CAGR of 32.1%. The industry is likely to benefit from increasing government investments and ongoing digitalization, added the report.

In February, the company announced that it had produced photons that are consistently and reliably entangled with ions, generating a quantum state that would enable future quantum systems to interact and exchange data. This huge advancement in photonic interconnects and quantum networking will be crucial in enabling IonQ to provide noticeably more processing power in systems of the future.

Prior to that, the company announced the launch of the first manufacturing plant for quantum computing in the United States, which is situated in Bothell, WA. The plant will house its growing R&D and manufacturing teams, including those working on the impending release of the IonQ Forte Enterprise and IonQ Tempo systems of the next generation.

In the fourth quarter, IonQ Forte was made available on Amazon Braket, which is Amazon Web Services’ quantum computing service. This expands upon IONQ’s existing presence on Amazon Braket, following the debut of the company’s Harmony system on the platform in 2020.

IONQ currently carries a Zacks Rank #3 (Hold). In the past year, the stock has gained 91.7% compared with the Zacks sub-industry’s growth of 53.2%.

Zacks Investment Research
Image Source: Zacks Investment Research

Stocks to Consider

Some better-ranked stocks from the broader technology space are Synopsys SNPS, Woodward WWD and Perion Network PERI. Synopsys and Perion Network sport a Zacks Rank #1 (Strong Buy) at present, while Woodward carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Synopsys’ 2024 earnings per share (EPS) has improved 1.1% in the past 60 days to $13.56. SNPS’ long-term earnings growth rate is 17.5%.

Synopsys’ earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, delivering an average surprise of 4.1%. Shares of SNPS have risen 51.7% in the past year.

The Zacks Consensus Estimate for Woodward’s fiscal 2024 EPS has inched up 5.7% in the past 60 days to $5.27. WWD’s long-term earnings growth rate is 15.5%.

Woodward’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, delivering an average surprise of 27.2%. Shares of WWD have risen 55% in the past year.

The Zacks Consensus Estimate for Perion Network’s fiscal 2024 EPS has improved 0.6% in the past 60 days to $3.34. PERI’s long-term earnings growth rate is 22%.

The company’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 12.9%. Shares of PERI have lost 34.2% in the past year.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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