Rigetti Computing (RGTI +1.11%) could be entering its most exciting phase yet. With Wall Street projecting 55% upside and new partnerships fueling growth, Rigetti may be on the verge of another breakout as the quantum revolution accelerates.
Rigetti Computing Inc. NASDAQ: RGTI had high expectations for its third-quarter earnings report. Unfortunately, the results didn't meet expectations, and RGTI stock has declined by over 5% since the report.
Hedge fund billionaires Israel Englander and Cliff Asness purchased shares of Palantir and sold shares of Rigetti Computing in the second quarter. Palantir is a leader in artificial intelligence decisioning platforms, but it's also the most expensive stock in the S&P 500 several times over.
Quantum computing pure-play stocks IonQ, Rigetti Computing, D-Wave Quantum, and Quantum Computing Inc. have rallied as much as 2,090% over the trailing year. Historical precedent is a significant headwind for quantum computing stocks.
Rigetti Computing reported disappointing third-quarter 2025 financial results on Monday. Two analysts downwardly revised their price targets during the week.
Shares of Rigetti Computing are up by more than 2,000% over the last 12 months -- but down sharply in recent weeks. The drivers of Rigetti's rise can be boiled down to narrative-driven hype and meme-stock rallies.
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