IonQ (IONQ) stock has slumped along with other names in the quantum computing sector following comments made by Nvidia (NVDA) CEO Jensen Huang

All it took to derail a rally that had sent shares of pure-play quantum computing stocks soaring was a single comment from a tech CEO. When Nvidia's Jensen Huang suggested that a useful quantum computer was likely decades away,

Quantum computing stocks collapsed in the early part of January, thanks in part to comments from the CEO of Nvidia. The companies have promising technology, but it is still many years away from commercialization.

IonQ (NASDAQ:IONQ) is arguably the leading stock in the quantum computing space. Prior to today, its stock was up nearly 500% over the last three months as it works to push quantum physics into computing to make massive,

As with any Discovery Stock, investors are looking to the price and the potential of the stock, not the fundamentals. As it stands now, IonQ has the benefit of round numbered support from the $30 price. Shares recently saw support at $40 on their ascent and then resistance at $50, displaying the effect of round-numbered prices.

The drop in stocks came after Nvidia CEO Jensen Huang's Q&A with analysts at CES in Las Vegas. When answering a question about the future of quantum computing, he said the timeline may be between 15 and 30 years until there is "very useful" quantum computers. This is the relevant quote from Huang:

Rigetti Computing, IonQ, and other quantum stocks plunged after Nvidia CEO Jensen Huang told Wall Street analysts that “very useful quantum computers” are likely 20 years away.

One of Wall Street’s most speculative trades just had some of the froth wiped out in dramatic fashion. The outlook is looking murky from here onwards.

Therefore, Huang's prediction that quantum computers won't go mainstream for 15 to 30 years sounds reasonable. It took Nvidia about two decades for its gaming and professional vis

First, D-Wave Quantum CEO Alan Baratz said that Huang was “dead wrong.” He said that his company is “commercial today,” and its services are be