D-Wave Quantum, Quantum Computing, and quantum-stock peers fell along with many of their larger rivals after DeepSeek, a Chinese start-up, sparked concerns about competition in the artificial intelligence market.

Competition is already heating up, with many companies taking a unique approach to developing their quantum computers. One such company is IonQ ( IONQ -1.43%), a leading manufacturer of quantum computing systems. But is the stock a buy right now? Let's take a closer look.

Trapped-ion quantum computing leader IonQ (NYSE: IONQ) is emerging as a potential leader in the commercialization of quantum computing through its trapped-ion technology approach. Unlike traditional superconducting quantum competitors,

Following tech giants such as Amazon (AMZN) and Nvidia (NVDA), enterprise software major SAP (SAP) has also joined the voices making a case for quantum computing. Sounding bullish about the technology,

Quantum computing has been an up-and-down investment theme over the past few months. The rage kicked off when Alphabet ( GOOG 1.16%) ( GOOGL 1.13%) announced a breakthrough with its Willow quantum computing chip, and any stock associated with quantum computing rose on the news of the announcement.

Many quantum computing stocks have risen well above Wall Street's price targets, but this one still has room to climb.