Rigetti Computing, a leading pure play in quantum computing, recently sold two of its Novera systems, generating $5.7 million in revenue. However, the company’s stock price has already seen significant growth due to the rising popularity of quantum computing.
While Rigetti Computing is still an attractive option for investors, its valuation may be too high. The company projects a 25% market share by 2035 and aims to capture $7.5 billion in annual revenue. However, this would require achieving a 25% profit margin, which is uncertain.
Investors who missed the initial wave of quantum computing investments last year are now being encouraged to consider Rigetti Computing. However, with many other stocks in the industry experiencing significant growth, it may be worth exploring alternative options that offer more favorable valuations and potential for returns.
One example is Nvidia’s recent performance, which has outperformed the S&P 500 by 1,055% since its inclusion on The Motley Fool Stock Advisor list. This highlights the importance of staying informed about market trends and adjusting investment strategies accordingly.
Source: https://www.nasdaq.com/articles/if-you-invested-10000-rigetti-computing-1-year-ago-heres-how-much-youd-have-today