Should You Buy Rigetti Computing Stock Right Now?
Rigetti Computing (NASDAQ: RGTI) has caught investors' attention. It's one of the few quantum computing companies with its own manufacturing facility, and it's shown it can deliver some impressive technology. If quantum computing delivers on its promise, Rigetti would be one of the names you'd want to own.
The company has a market capitalization north of $5.8 billion, yet its sales in the last 12 months total just $7.5 million. That is a serious disconnect. Investors are pricing in a massive amount of future growth and, in my opinion, are too optimistic about the quantum computing's development timeline.
A recent MIT report said that large-scale commercial applications -- the kind that justify multibillion-dollar market caps -- likely remain "far off." Morningstar agrees; its analysis puts general-use quantum computing two decades away.
Source Fool.com
Morningstar Inc. Stock
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