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Rigetti Computing (RGTI) is a small but mighty player in the quantum computing world. Founded in 2013, this California-based company builds quantum hardware and offers Quantum Computing as a Service (QCaaS). Their tech uses superconducting qubits, and they’re betting big on modular design to scale faster than their rivals.

But here’s the thing: the quantum race isn’t won yet.

IBM is leading on the tech side, with the most advanced public quantum systems. Google (GOOGL) made headlines with its 2019 “quantum supremacy” claim, though it’s been quiet since.

Microsoft and Amazon are taking a different approach, acting as platforms that host multiple quantum systems in the cloud. Then there’s IonQ, the public market darling using ion-trap tech, with flashy partnerships but slower scaling.

So where does Rigetti fit in?

They’ve been under the radar… until now. Their recent breakthroughs in chip design, boosted cash position, and rising analyst targets are making waves. Some even wonder if they could leapfrog the giants.

The IDDA Analysis framework is used to analyze companies and determine which are right for you. There are five steps to the process:

1. Capital Analysis – Your personal risk tolerance.
2. Intentional Analysis – Your unique financial goals and timelines based on your age, health, and lifestyle.
3. Fundamental Analysis – The viability of the asset based on company performance, financial health, and market position.
4. Sentimental Analysis – The current emotions of Wall Street and other market participants.
5. Technical Analysis – Historical price action to identify key psychological levels and market patterns.

Let’s dive into the IDDA analysis to assess Rigetti Computing’s fundamental, sentimental, and technical outlook.

IDDA Point 1&2: Capital & Intentional 

The capital and intentional analysis need to be conducted by you.

Select your assets in alignment with your financial goals. Listen to your intuition about each asset, but remember to invest based on your own values, not just because of recommendations from others.

IDDA Point 3: Fundamental

Cash in the Bank

Rigetti raised $350 million in June through an at-the-market offering. They now have around $575 million in cash and no debt. That gives them an estimated runway of 6 years for research and development. For a deep tech startup, that’s rare and powerful.

Big Leap in Technology

In July, Rigetti launched a 36-qubit modular quantum computer by linking four 9-qubit chips. This system reached 99.5% gate fidelity, a massive improvement. It shows they’re on track to scale without the usual roadblocks that come with traditional quantum systems.

Smart Partnerships

Rigetti is working with Riverlane, a top name in quantum error correction. They also struck a deal with Quanta Computer in Taiwan to scale hardware manufacturing. These collaborations help them focus on innovation while trusted partners handle the rest.

Still Burning Cash

Despite the funding, Rigetti isn’t profitable. It lost $22.6 million last quarter and expects more losses ahead. Their earnings report is due August 12, and it’s likely to show another net loss. That’s expected in this stage, but it’s still a risk.

Supportive Industry Trends

The US government is heavily investing in quantum tech. Bills like the National Quantum Initiative and Quantum Leadership Act bring billions in funding. This creates a strong tailwind for US-based players like Rigetti.

Far from Revenue Growth

Rigetti’s revenue is still tiny, estimated around $1.9 million for the quarter. It’s growing, but not fast enough to excite short-term investors. Most of its value today is tied to future potential, not current earnings.

Competitive Pressure

IBM, Google, and IonQ are all building quantum systems. While Rigetti has made technical progress, it still trails IBM in scale and lags IonQ in public attention. Staying in the game will depend on continued breakthroughs.

Fundamental Risk: High

Rigetti has strong tech, solid partnerships, and a healthy cash cushion—but no profits, low revenue, and lots of competition. High risk, high potential.

IDDA Point 4: Sentimental

Overall sentiment is bullish for Rigetti Computing.

Strengths

 Recent tech breakthrough boosted investor excitement. The 36-qubit modular launch was seen as proof that Rigetti can actually build and scale, not just talk.

 Analysts are turning heads. B. Riley raised their price target to $19, one of the highest on the Street. Cantor Fitzgerald also initiated coverage with an overweight rating.

 Quantum hype is back. Nvidia’s CEO recently hinted at quantum reaching a tipping point. That adds fuel to anything in the space, including Rigetti.

 New leveraged ETFs (RGTX and RGTU) bring more exposure. While volatile, they also put Rigetti in front of more speculative and momentum-driven investors.

 Government support. The US is pouring billions into quantum computing through multiple initiatives. That creates a supportive backdrop for all domestic players.

Risks

 Retail-driven spikes. A big part of Rigetti’s recent gains came from speculative momentum. That can fade quickly and cause wild swings.

 Still not widely known. Rigetti doesn’t have the same name recognition as IonQ or IBM. That means less institutional trust, at least for now.

 Earnings loss ahead. The upcoming August 12 earnings call is expected to show more cash burn and limited revenue. That could scare off short-term traders.

 Tech is hard to understand. Most investors don’t fully grasp quantum fundamentals. That creates confusion, doubt, and a “wait and see” attitude from serious players.

Sentimental Risk: Medium to High

There’s excitement, optimism, and analyst love—but also uncertainty, hype, and emotional volatility. The crowd is watching, but not fully committed yet.

IDDA Point 5 – TECHNICAL

Weekly Chart

 Price is trading above the Ichimoku Cloud. The cloud is green, which confirms strong bullish momentum.

 The Tenkan line is above the Kijun line. That’s a bullish crossover showing continued upward pressure.

 RSI is at 66. It’s in the overbought zone, which shows strong buying—but also means a potential short-term cooldown could happen.

(Click on image to enlarge)

Daily Chart

 The stock is making higher highs. Buyers are in control and momentum is strong.

 RSI is at 63. Still overbought, but not extreme. This supports the bullish trend.

 Both daily and weekly charts are aligned, which adds confidence for short-term swing trades.

Rigetti’s chart is showing clear bullish signs. But with RSI sitting in overbought territory on both timeframes, a pullback is possible. This setup is great for swing traders who can manage risk.

(Click on image to enlarge)

Overall Technical Outlook: Bullish

Momentum is strong across the board, however, keep in mind that investing in a company that isn’t profitable yet carries higher risk. For this reason I consider Rigetti (RGTI) a stock suitable for short-term swing trading.

Buy Limit (BL) levels:

 $16.04 – High Risk

 $13.40 – Moderate Risk

 $10.89 – Low Risk

Profit Taking (PT) levels:

 $21.37 – High Risk

 $23.88 – Moderate Risk

 $27.86 – Low Risk

Here are the Invest Diva ‘Confidence Compass’ questions to ask yourself before buying at each level:

1. If I buy at this price and the price drops by another 50%, how would I feel? Would I panic, or would I buy more to dollar-cost average at lower prices? (hint: this question also reveals your CONFIDENCE in the asset you’re planning to invest in).
2. If I don’t buy at this price and the stock suddenly turns around and starts going up again, will I beat myself up for not having bought at this level?

Remember: Investing is personal, and what is right for me might not be right for you. Always do your own due diligence. You should ONLY invest based on your own risk tolerance and your timeframe for reaching your portfolio goals

Technical Risk: Medium to High

The trend is bullish and momentum is strong, but RSI is overbought on both the weekly and daily charts. A short-term pullback is likely. Traders need to manage entries carefully.

Summary: Final Thoughts

Rigetti Computing is an underdog with real potential. Its recent tech breakthrough—a 36-qubit modular system with high fidelity—is a major milestone. They have strong partners, a healthy cash runway, and growing attention from Wall Street analysts.

But this is still an early-stage company. Revenue is small, profits are far away, and the competition includes giants like IBM, Google, and IonQ. Most of Rigetti’s value today is tied to what could happen—not what’s already working.

Sentiment is bullish for now, fueled by optimism, analyst upgrades, and U.S. government support. But investor emotions can flip fast, especially with speculative stocks like this.

On the technical side, the chart looks strong. Momentum is pushing higher, but RSI is overbought. That means a pullback wouldn’t be surprising.

Rigetti stock may be a smart play for risk-tolerant swing traders or long-term investors who believe in quantum’s future and want exposure before it becomes mainstream. But this is not a stock for the faint of heart.

Overall Opinion: Cautiously Bullish

Overall Risk: High

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