Core Viewpoint - Quantum computing stocks, particularly Rigetti Computing and D-Wave Quantum, are trading at unsustainable valuations, with share prices increasing dramatically since January 2023, leading to expectations of a market correction in the near future [1][2]. Quantum Computing Market Overview - Practical quantum computers are estimated to be at least a decade away, with no company having developed a large-scale, fault-tolerant quantum computer capable of useful computations [4][5]. - Experts predict that the quantum computing market will grow at an annual rate of 21%, reaching $4 billion by 2030, while AI spending is expected to grow at 36% annually, reaching $1.8 trillion in the same timeframe [6][7]. Rigetti Computing - Rigetti specializes in superconducting quantum computing and has a market capitalization of $8.5 billion, with a current stock price of $25.84 [9]. - The company has developed multichip quantum processors, which are expected to help scale quantum systems, but practical applications are not anticipated until late 2027 [10]. - Rigetti's stock is currently valued at 1,025 times sales, significantly higher than Palantir's 120 times sales, indicating an unsustainable valuation that could lead to a major correction [11]. D-Wave Quantum - D-Wave focuses on quantum annealers, which are easier to scale and have nearly 5,000 physical qubits, but their utility is limited compared to gate-based systems [12][13]. - The company has established strong client relationships as a first mover in the market, yet its stock trades at 325 times sales, which is still considered nonsensical given the projected growth of quantum computing sales [14].