Rigetti Computing (RGTI): Buy, Hold, or Watch? Analyzing Quantum Stock Trends
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Rigetti Computing, Inc. (RGTI) has recently garnered significant attention, appearing on Zacks.com's list of most searched stocks. But is the buzz justified? This article delves into the factors influencing RGTI's performance and future prospects.
Recent Performance and Industry Context
Over the past month, RGTI shares have experienced a -2% return, underperforming the Zacks S&P 500 composite's +6.3% change. The Zacks Internet - Software industry, which includes Rigetti Computing, has seen a gain of 14.2% during the same period. This raises the question: can Rigetti catch up and potentially outperform its peers?
Earnings Estimate Revisions and Future Value
Zacks prioritizes analyzing revisions in a company's future earnings projections. The core belief is that the present value of future earnings determines a stock's fair value. When earnings estimates increase, so does the fair value, attracting investors and driving the stock price upward. Trends in earnings estimate revisions often correlate strongly with short-term stock price movements.
Strategic Collaboration with Quanta Computer
Rigetti achieved a crucial milestone by partnering with Quanta Computer, a global leader in electronics manufacturing. Quanta's $35 million equity investment reflects strong confidence in Rigetti's quantum roadmap. Over five years, both companies plan to invest over $100 million each in joint development. This aims to accelerate the commercialization of superconducting quantum processors. Focus is given to building scalable, fault-tolerant systems for academic, enterprise, and government use.
Leveraging Quanta's Manufacturing Prowess
This partnership grants Rigetti access to Quanta's manufacturing scale, global reach, and operational infrastructure. For Rigetti, it helps the transition from research-stage prototypes to commercially viable quantum computing systems. The alliance will focus on producing and distributing Rigetti’s quantum processing units, integrating them into broader computing frameworks, and advancing applications across logistics, pharmaceuticals, and machine learning.
Ankaa-3 and the Road Ahead
The partnership's timing is strategic, following Rigetti’s Ankaa-3 launch, an 84-qubit system boasting a 99.5% two-qubit gate fidelity. This positions the company to rapidly make meaningful advancements in real-world quantum applications.
Conclusion
Rigetti Computing's recent performance has been mixed. However, strategic collaborations, particularly with Quanta Computer, and advancements in quantum processing technology, like the Ankaa-3, could significantly impact its future trajectory. Investors should closely monitor earnings estimate revisions and the progress of these strategic partnerships to make informed decisions.