9:28 AM ETThe Dow Jones index tumbled nearly 400 points Thursday, as... BREAKING: Tech Futures Fall; Tesla Shareholders OK Musk Pay Deal Investors.com will undergo scheduled maintenance from 10:00 PM ET to 2:00 AM ET and some features may be unavailable. We apologize for any inconvenience. Nvidia (NVDA) and Apple (AAPL) took a back seat last month in the Dow Jones Industrial Average, ceding the month's performance to technology and industrial names as the top Dow stocks of October. Caterpillar (CAT), Amazon ...

Core Insights - Rigetti Computing (RGTI) is set to release its third-quarter 2025 results on November 10, with expectations of a loss per share of 5 cents and revenues of $2.39 million, reflecting a modest year-over-year improvement of 0.4% [1][2][9] Group 1: Financial Performance - The Zacks Consensus Estimate for RGTI's revenues is $2.39 million, indicating a 0.4% year-over-year increase, while the loss per share is projected at 5 cents, representing a 37.5% growth compared to the same quarter last year [2] - In the last reported quarter, RGTI's loss per share of 5 cents exceeded the Zacks Consensus Estimate by 16.7%, although the company has experienced an average earnings surprise of negative 10.8% over the past four quarters [1][2] Group 2: Influencing Factors - Ongoing uncertainty regarding U.S. public-sector funding is likely to impact RGTI's third-quarter earnings, particularly due to the expiration of the National Quantum Initiative and pending congressional reauthorization [3] - The deployment of Cepheus-1-36Q, the largest multichip quantum computer, is expected to enhance RGTI's strategic momentum and may support incremental platform revenue as early adopters explore hybrid quantum workflows [4] - RGTI's strengthened balance sheet, bolstered by a $350 million equity raise, provides the company with approximately $571.6 million in cash and no debt, allowing for continued R&D and system-scaling projects [5] Group 3: Future Outlook - The dynamics surrounding NQCC and DARPA present potential catalysts for RGTI's earnings, with advancements in U.K. programs and confidence in selection for DARPA's Quantum Benchmarking Initiative [6] - Overall, RGTI's third-quarter earnings are expected to be characterized by constrained revenue due to federal funding timing, but supported by accelerated platform deployment and strategic partnerships [7]

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Core Insights - Rigetti Computing's stock experienced significant volatility, nearly doubling in early October due to $5.7 million in sales for its quantum computing systems, but has since dropped from its peak [1][5] - Analysts have downgraded RGTI stock to "Neutral" while raising the target price from $35 to $42, indicating that much of the expected commercial success is already priced in [2][5] - The company is seen as a potential candidate for a U.S. government stake, which could enhance investor sentiment despite its strong cash position of over half a billion dollars [3] Stock Performance - RGTI stock has increased by 134% year-to-date in 2025, significantly outperforming the Nasdaq Composite's 21.2% returns [5] - The stock's market capitalization has risen to $11.4 billion, following a dramatic recovery from a low of $6 earlier in the year [5] - The stock reached an all-time high of $56.34 in mid-October but is currently trading at a 39% discount to that peak [5] Company Overview - Rigetti Computing operates in the computer hardware industry, focusing on processors and quantum computers, and is headquartered in Berkeley, California [4] - The stock is characterized as high-risk, high-reward, often confused with speculative stocks despite having relatively decent fundamentals compared to peers [4]

Core Viewpoint - Viewbix Inc. has signed a non-binding term sheet for the acquisition of Quantum X Labs Ltd., which will significantly enhance its capabilities in quantum computing and AI technologies [1][2]. Company Overview - Viewbix operates in the digital advertising sector through subsidiaries Gix Media Ltd. and Cortex Media Group Ltd., focusing on search and digital content activities [5]. - The company develops technological software solutions for automating, optimizing, and monetizing internet campaigns, aiming to drive user traffic to its clients [5]. Acquisition Details - The acquisition will involve Viewbix acquiring 100% of Quantum X Labs' issued and outstanding share capital in exchange for shares of Viewbix's common stock and pre-funded warrants [2]. - The securities issued to Quantum X Labs' shareholders will represent 65% of Viewbix's total post-closing issued and outstanding share capital, which includes a concurrent PIPE financing of $3 million [2]. - The closing of the acquisition is anticipated in December 2025, pending due diligence, definitive agreements, regulatory approvals, and stockholder approval [4]. Quantum X Labs Profile - Quantum X Labs is a leading company in quantum computing and AI, focusing on quantum algorithmics and quantum physics [3]. - The company is recognized for its commitment to creating and retaining quantum innovations across various industries, supported by a diverse ecosystem of subsidiaries developing unique, patent-protected solutions [3].

Core Insights - Stack Capital Group Inc. reported its financial results for Q3 2025, highlighting a strong capital position and ongoing investments in high-growth technology companies [1][2]. Financial Summary - Book Value per Share ("BVpS") was $14.26 as of September 30, 2025, down from $14.34 at June 30, 2025 [4]. - Total Book Value reached $188.7 million [4]. - The company raised $35 million through a private placement during the quarter [4]. Portfolio Company Highlights - Stack Capital made significant investments in technology companies, including: - OpenAI: Invested US$8.0 million, focusing on generative AI and enterprise AI deployment [3]. - Databricks: Invested US$2.1 million in a unified cloud-based platform for data and AI workloads [9]. - PsiQuantum: Invested US$0.5 million in developing a silicon photonic quantum computer [9]. - Valuation of SpaceX increased from US$350 billion to US$400 billion during the quarter [4]. - Canva's valuation rose from US$32 billion to US$42 billion [4]. Management Commentary - The CEO of Stack Capital noted a robust IPO environment and strong momentum in private markets, particularly in AI, defense, and robotics, indicating attractive investment opportunities [5]. Breakdown of Book Value per Share - The detailed breakdown of Book Value per Share as of September 30, 2025, includes: - CoreWeave, Inc. (AI hyper-scaler): $2.37 - SpaceX: $2.28 - Canva, Inc.: $1.30 - Other notable investments include Locus Robotics, Omio, Hopper, and OpenAI, contributing to the overall Book Value per Share of $14.26 [5][6].

Core Insights - Investors in pure-play quantum computing stocks are facing challenges in valuing these companies, leading to high price volatility in this emerging sector on Wall Street [1] Group 1 - The quantum computing industry is currently experiencing significant interest, but the valuation of companies within this space remains uncertain [1] - The volatility in stock prices reflects the speculative nature of investments in quantum computing, which is considered a futuristic technology [1]

Core Insights - Investors are facing challenges in valuing pure-play quantum computing stocks, leading to high volatility in prices for companies like Rigetti, IonQ, D-Wave Quantum, and Quantum Computing Inc [1][2] - The potential of quantum computing could revolutionize various fields, with shares of these companies soaring by 100% or more this year [2] - The excitement around quantum technology raises questions about appropriate valuation, as seen with Rigetti's stock price surge from $1.06 to a recent high of $58 [3][4] Company Valuations - Rigetti's shares are currently priced around $38, reflecting a valuation over 1,000 times its sales, in stark contrast to Nvidia's 50 times sales [4] - Despite the soaring stock price, Rigetti remains unprofitable, although it reported a profit in Q1 2025 due to changes in the value of its securities [4] - The market capitalization of Rigetti stands at $13 billion, with forecast revenues of only $22 million, highlighting a significant disconnect in valuation [5] Market Dynamics - The "Quantum 4" includes Rigetti, IonQ, D-Wave, and Quantum Computing Inc, which have attracted significant trading interest [6] - Rigetti has become the fourth most actively traded stock among clients of Interactive Brokers, surpassing trading volumes of major companies like Apple and Amazon [3]

Core Insights - The rapid rise of quantum computing stocks is expected to be followed by a significant decline, indicating a potential bubble in the market [1][10][11] Market Performance - Quantum computing stocks have shown trailing-12-month returns of up to 3,170% as of October 31, with companies like IonQ, Rigetti Computing, D-Wave Quantum, and Quantum Computing Inc. leading the surge [2] - Current market capitalizations for these companies range from $3.7 billion for Quantum Computing Inc. to $21.7 billion for IonQ, despite a lack of supporting data for such high valuations [3] Technology and Use Cases - Quantum computing utilizes specialized computers based on quantum mechanics to solve complex problems beyond the capabilities of traditional computers [5] - Potential applications include enhancing AI algorithms, improving drug trial success rates, strengthening cybersecurity, refining weather forecasting, and optimizing investment portfolios [5] Investment Dynamics - The surge in quantum computing stocks has been fueled by potential partnerships and financing opportunities, including discussions of equity stakes by the Trump administration [7] - Major cloud computing services like Amazon's Braket and Microsoft's Azure Quantum are providing access to quantum computing resources, further legitimizing the technology [8] Market Sentiment - The phenomenon of "FOMO" (fear of missing out) is driving investor behavior, contributing to the rapid price increases of quantum computing stocks [9] - Historical trends suggest that every major technological advancement has experienced a bubble-bursting event, indicating that quantum computing may follow suit [12][15] Valuation Concerns - Current valuations of quantum computing stocks are unsustainable, with price-to-sales (P/S) ratios reminiscent of the dot-com bubble, where leading companies peaked at P/S ratios of 30 to 40 [16] - The S&P 500's Shiller P/E Ratio is currently at 41.20, suggesting that a market correction could disproportionately affect high-valuation stocks like those in quantum computing [19][20] Future Projections - Consensus sales projections for 2027 indicate that even with significant sales growth, existing valuations for quantum computing stocks cannot be justified [18]

You can catch Trader Talk on Apple Podcasts, Spotify, YouTube, or wherever you get your podcasts. Is Washington chaos really what’s moving your money, or is it just noise? On this episode of Trader Talk, Kenny Polcari breaks down how the 2026 midterm elections, government shutdown drama, and policy shocks surrounding tariffs, healthcare, EV credits, and rare earth metals can cause entire sectors to be slammed overnight, while long-term investors stay focused on fundamentals. Then Schwab Network lead market ...