Where Will Rigetti Computing Be in 10 Years?

Rigetti Computing (NASDAQ: RGTI) is a "pure play" quantum computing company that went public by merging with a special purpose acquisition company (SPAC) three years ago. It designs and manufactures its own quantum processing units (QPUs), builds full quantum computing systems, and hosts a cloud platform for developing quantum applications.

Rigetti has been a wildly unpredictable stock. It opened at $9.75 per share on the first day after closing its SPAC merger, sank to a record low of $0.38 in May 2023, but now trades at around $8. With a market cap of $2.38 billion, it's already valued at a whopping 170 times this year's sales. Let's look ahead and see if Rigetti can justify its sky-high valuations over the next decade.

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