Rigetti Computing Inc. (NASDAQ: RGTI) has become a hot stock in the quantum computing sector, surging 28.23% to $11.22 on Friday. The massive rally came with a spike in trading volume, as 125.74 million shares exchanged hands—far exceeding its three-month daily average of 80.4 million units. Over the past year, Rigetti shares have skyrocketed 438.42%, making it one of the best-performing quantum computing stocks.
Quantum Computing Hype Drives RGTI’s Rally
The recent surge in Rigetti’s stock price reflects growing investor enthusiasm for quantum computing. The industry is gaining momentum thanks to breakthroughs in processing power and increased attention from major tech players.
Quantum computers have the potential to perform calculations exponentially faster than traditional computers, solving problems that would otherwise take millions of years. This transformative potential has led to a surge in early-stage investments, with traders betting on future profitability.
Competitors in the Quantum Race
While Rigetti Computing has captured attention with its recent rally, it is not the only player making waves. Several quantum computing stocks have seen increased interest, including:
- D-Wave Quantum Inc. (NASDAQ: QBTS) – Known for its quantum annealing technology, D-Wave is expanding its commercial applications.
- IonQ Inc. (NYSE: IONQ) – A leader in trapped-ion quantum computers, IonQ is rapidly scaling its technology with growing enterprise adoption.
- Quantum Computing Inc. (NASDAQ: QUBT) – Specializing in quantum-ready software solutions, QUBT is targeting the finance, logistics, and defense sectors.
- Alphabet Inc. (NASDAQ: GOOGL) – Google’s Quantum AI lab is exploring large-scale quantum systems, aiming for practical applications in machine learning and cryptography.
- Microsoft Corp. (NASDAQ: MSFT) – Microsoft is investing heavily in quantum hardware and cloud-based quantum services through Azure Quantum.
Strong Buy Ratings and Upside Potential
Quantum computing stocks have received strong buy ratings from analysts, reflecting their long-term growth potential.
- RGTI offers the highest upside potential at 35.28%, making it a standout pick among its peers.
- QBTS and MSFT also have strong buy ratings, with Microsoft’s quantum division gaining attention for its enterprise-level solutions.
Investor Takeaway
Rigetti Computing’s explosive rally highlights the growing investor interest in quantum computing stocks. With accelerating technological breakthroughs and expanding commercial applications, the sector is becoming a key focus for growth-seeking investors.
