Alphabet's financial stability and profitability make it the preferred quantum computing stock over Rigetti

From Nasdaq: 2025-01-20 15:05:00

1. The quantum computing market is projected to reach $5.3 billion by 2029, with a CAGR of 32.7%. Quantum computers’ faster operation is attracting interest from investors, comparing Alphabet Inc. (GOOGL) and Rigetti Computing, Inc. for better stock options.
2. Alphabet’s quantum chip, Willow, has shown error-reducing capabilities, while Rigetti’s Quantum Cloud Services platform offers cost savings. Both companies are scaling up their quantum computing offerings for future growth.
3. Alphabet’s financial stability and profitability give it an advantage over Rigetti in the quantum computing sector. Alphabet’s net profit margin is 27.7%, while Rigetti is facing cash shortages and negative profit margins.
4. Brokers have raised Alphabet’s short-term price target, while reducing Rigetti’s, making Alphabet the preferred quantum computing stock. Alphabet’s average short-term price target is $215.59, compared to Rigetti’s $6.10.
5. Check out Zacks Investment Research’s list of 5 potential stocks set to double in 2024, handpicked by experts for significant growth opportunities. These stocks are flying under Wall Street’s radar, offering a ground-floor investment opportunity.

Read more at Nasdaq: Better Quantum Computing Stock: Alphabet at $2.4T or Rigetti at $2.8B?