Stock Track | Rigetti Computing Surges 5.25% on Tempered Quantum Computing Expectations and Earnings Outlook

Stock Track
10 Jan

Rigetti Computing (RGTI) stock soared 5.25% to $12.24 during Friday's intraday trading, rebounding from a steep decline earlier in the week.

The rally can be attributed to a shift in investor sentiment regarding the near-term prospects of the quantum computing industry. Following comments from Nvidia CEO Jensen Huang, who cautioned that widespread adoption and commercial viability of quantum computing are still likely 20 years away, expectations were reset to more realistic levels. This served to alleviate some of the overexuberance that had inflated valuations in the sector.

Additionally, Rigetti's stock received a boost from the company's earnings outlook. Analysts expect the quantum computing firm to post a narrower loss of $0.08 per share for the current quarter, representing an improvement of 11.1% from the prior year. While still unprofitable, the projected earnings trajectory suggests Rigetti is making progress in its path towards profitability.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10