10 Best Quantum Computing Stocks to Buy According to Analysts

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1. Rigetti Computing Inc. (NASDAQ:RGTI)

Median Upside Potential: 143.9% 

Number of Analysts: 4

Insider Monkey Weighted Score: 59.96

Rigetti Computing Inc. (NASDAQ:RGTI) is a california-based company that develops integrated circuits for quantum computers. RGTI has been losing momentum with wall street. According to Insider Monkey’s hedge-fund database for RGTI, the number of hedge funds that hold stake in RGTI declined by 74% from Q1, 2022 to Q2, 2024. However, four analysts disagree with the general sentiment of the market, with the median 12-month price upside for Rigetti Computing Inc. (NASDAQ:RGTI) being 143.9%.

Rigetti’s novel approach, Alternating-Bias Assisted Annealing (ABAA), enables more precise qubit frequency targeting and high fidelity. The approach is being used to fabricate chips including the company’s Novera and the upcoming Ankaa-3 system, which the company says its on track to develop by the end of 2024.

Following is what the CEO said in Q2 earnings call:

“We are seeing very promising results both with fidelity and speed on our current systems which leverage the underpinning technology of our upcoming Ankaa-3 system.”

While we acknowledge the potential of GE Vernova Inc. (NYSE:GEV) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than GEV but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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