Core Insights - Wall Street analysts expect shares of Rigetti Computing and D-Wave Quantum to increase over the next year, with unanimous positive outlooks from analysts covering both companies [1][2]. Rigetti Computing - The median target price for Rigetti Computing is $40 per share, indicating a 42% upside from its current price of $28, with the highest target suggesting an 82% upside [4]. - Rigetti specializes in superconducting quantum computing, utilizing microscopic superconducting circuits cooled to near absolute zero to create qubits, which allow for more efficient problem-solving compared to classical computers [5]. - The company benefits from vertical integration, controlling its supply chain to achieve cost efficiencies, and has developed the first multi-chip quantum processor, potentially giving it an edge in scaling fault-tolerant systems [6]. - Rigetti's valuation is a concern, with a price-to-sales (P/S) ratio of 1,080, significantly higher than the most expensive stock in the S&P 500, indicating potential unsustainability [9]. D-Wave Quantum - The median target price for D-Wave Quantum is $40 per share, suggesting a 48% upside from its current price of $27, with the highest target indicating a 77% upside [10]. - D-Wave focuses on quantum annealers, which excel at solving optimization problems but cannot run most quantum algorithms, making them a niche technology [11]. - D-Wave's revenue increased by 100% to $3.7 million, but it reported a non-GAAP net loss of $18.1 million, with a significant increase in outstanding shares due to stockholder dilution [13]. - D-Wave's valuation is also concerning, trading at 325 times sales, which is deemed unreasonably expensive given the projected growth rate of the quantum computing market at 21% per year [14].