Prediction: Rigetti Computing Stock Could Double by 2031. Here's Why I'm Still Cautious.

Conventional computers process information using bits, often represented as lines of binary code (0 or 1). Quantum computers use qubits to perform certain calculations in fundamentally different ways. Through a property known as superposition, qubits can exist in multiple states at the same time.

Quantum computing technology is promising to transform drug discovery, materials science, financial modeling, cybersecurity, and more. Given its various use cases, McKinsey estimates the quantum computing market could reach between $43 billion and $71 billion by 2035.

That opportunity has attracted enormous attention to pure-play quantum developers such as Rigetti Computing (NASDAQ: RGTI). Smart investors understand the difference between a revolutionary technology and buying a stock at an attractive valuation.

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