Quantum computing is having a moment in the stock market

Core Insights - Quantum computing is gaining traction as it transitions from theoretical research to practical applications, with significant interest from investors [1][7] - The recent rally in quantum stocks is largely driven by advancements from Rigetti Computing and other key players in the sector [1][2] Company Developments - Rigetti Computing's stock experienced a surge following the announcement of two purchase orders for its quantum systems, totaling $5.7 million, from an Asian manufacturing company and a US AI startup [3][4] - The revenue impact from these orders is expected to be modest, but they have generated positive investor sentiment, indicating a shift in market perception [4] Market Sentiment - Analysts have adjusted their price targets for quantum stocks, with B. Riley Financial raising Rigetti's target from $19 to $35, and Ascendiant Capital Markets increasing its target for Quantum Computing stock from $22 to $40, suggesting a potential upside of 55% [5] - The involvement of major institutions like HSBC and Vanguard in quantum technology has further bolstered confidence in the sector [6]