Honeywell International vs Rigetti Computing: Quantum Computing Stock War

quantum computing

The Quantum Computing Market is expected to grow to US$10.6 billion by 2026.

In recent years, quantum computing has become poised for growth as a viable section of the Technology industry across the globe. According to a report, the Quantum Computing Market is expected to register a 40.1% CAGR, growing to US$10.6 billion by 2026. Another reason for the potential growth of quantum computing as a business section of the tech sector is the increase in private equity (PE) investments over the past half-decade. In this article, you can compare the best quantum computing stock to invest in between Honeywell International and Rigetti Computing.

Prominent technology name Honeywell manufactures numerous high-tech products, ranging from aerospace equipment to medical devices and advanced materials. In late November, it merged its Honeywell Quantum Solutions with Cambridge Quantum Computing to create Quantinuum, the largest quantum computing company in the world. Its current quantum computing stock is US$197.04, 2.67% up from the previous close.

Rigetti Computing’s Quantum Cloud Services (QCS) platform serves global enterprises, various agencies of the U.S. government, and leading research centers. Several of them include the National Aeronautics and Space Administration (NASA), the U.S. Department of Energy, and Palantir Technologies. Its current quantum computing stock is US$8.23, 10.15% down from the previous close.

Honeywell announced Q4 2021 results on Feb. 3. Revenue declined 3% YOY to US$8.7 billion. Net income came in at US$1.43 billion, or US$2.05 per diluted share, up from US$1.36 a year ago. Cash and equivalents ended the period at nearly US$11 billion. Rigetti Computing announced fiscal 2021 results on March 10. Revenue increased by 48% YOY to US$8.2 million. Net loss widened to US$38.2 million, or a US$1.74 loss per share, compared with US$26.1 million a year ago. Cash and equivalents ended the period at US$11.7 million.

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