IonQ Stock Looks Expensive. Can Scale Justify the Valuation?

IonQ has demonstrated customer demand for quantum technology, but the key question is whether the company can convert this demand into repeat business, improve manufacturing efficiency, and achieve better cash economics. The company's valuation appears expensive, and upcoming quarters will be critical in showing whether scale is making each dollar of growth more valuable. A partnership with SkyWater may help, but investors need to see concrete evidence of improving unit economics.