Down Almost 30%, Should You Buy the Dip on Rigetti Computing?

Core Viewpoint - Rigetti Computing has experienced significant stock volatility and growth, with shares increasing approximately 1,400% over the past year due to quantum computing hype, but have since seen a decline of up to 70% from their peak in January [1][2]. Company Overview - Rigetti is currently trading about 30% below its all-time high and is focused on establishing a leading position in the quantum computing market as the technology matures [2]. - The company has made notable advancements in quantum computing, including 237 issued or pending patents and early commercial traction through partnerships [4]. Technological Achievements - Rigetti launched its first 32-qubit system on Amazon Web Services (AWS) in 2019, demonstrated its first scalable quantum chip in 2021, and made its Aspen quantum computer commercially available on AWS in 2022 [5]. - The company's first quantum processing unit became commercially available in 2023 [5]. Market Potential - The long-term market for quantum computing is projected to be between $1 billion to $2 billion by 2030, with potential growth to a $15 billion to $30 billion market opportunity during the 2030s, and exceeding $100 billion by 2040 [6]. Competitive Landscape - Rigetti faces competition from both startups and established companies like Alphabet's Google, which are also developing quantum computing technologies [8]. - The company has sufficient cash for current development but may need to raise additional capital in the future, which could dilute shareholder value [8]. Investment Considerations - If quantum computing becomes a viable mainstream technology and Rigetti maintains a technological edge, it could represent a significant investment opportunity for patient investors [9].