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.
In August, IonQ made waves in the quantum computing industry with a memorandum of understanding with CMC Microsystems. This partnership aimed to establish IonQ as a listed cloud access provider for Canada's FABrIC Quantum Computing Sandbox. However, IonQ's success story is overshadowed by the relative obscurity of FormFactor, a company that plays a crucial role in the quantum computing ecosystem.
FormFactor, trading under the NASDAQ ticker FORM, specializes in selling probe cards and cryogenic test equipment to the semiconductor industry. While FormFactor garners substantial media attention, its quantum computing ventures are often overlooked. Despite this, FormFactor reported record Q2 revenue of $258.2 million, showcasing robust financial performance.
The company's 20% free cash flow margin is a testament to its profitability. This lack of coverage for FormFactor's quantum initiatives is indicative of a broader trend where major players in the quantum computing supply chain receive less attention compared to the headline-grabbing companies like IonQ.
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