Hedge fund managers Israel Englander, Ken Griffin, and Steven Schonfeld sold Amazon and bought Rigetti in the third quarter. Amazon utilizes AI to enhance sales and efficiency, while Rigetti focuses on quantum computing. Despite Rigetti’s potential, its stock price is considered excessively high.

Englander, Griffin, and Schonfeld have all outperformed the S&P 500 over the past three years. Amazon’s strong position across multiple industries and AI innovations have led to significant financial growth. However, concerns about tariffs may have influenced the decision to sell Amazon shares.

Rigetti specializes in superconducting quantum computing, offering unique competitive advantages. Despite its potential, the company is not expected to achieve widespread utility for another decade or two. Rigetti’s stock valuation is exceptionally high, leading some to question the billionaires’ decision to invest.

The Motley Fool’s Stock Advisor team recently identified ten top stocks for investment, with Amazon not among them. This suggests other opportunities may offer greater potential returns. Investors should consider historical returns and the market-crushing performance of Stock Advisor when making investment decisions.

Read more at Nasdaq: Billionaires Sell Amazon Stock and Buy a Quantum Computing Stock Up 3,050% Since 2023