It wasn't just the CES 2025 buzz that rattled quantum stocks this week — a dose of cold water came from none other than Nvidia Corp‘s CEO Jensen Huang.
Speaking at Nvidia’s Analyst Day, Huang made it clear: “very useful” quantum computers are likely decades away. In fact, he pegged the most optimistic timeline for a breakthrough in 15 to 20 years, with 30 years perhaps being more realistic. The comments have sent shockwaves through the quantum computing space, where stocks had been soaring on speculation about the technology’s potential.
Shares of key players like IonQ Inc IONQ, Rigetti Computing Inc RGTI, and D-Wave Quantum Inc. QBTS took a hit, plunging by as much as 40% in just a few days. While these stocks had been riding high on massive gains over the past year — with IonQ up a jaw-dropping 129% and Rigetti seeing an 828% surge — the CEO's reality check has sparked a sharp reversal.
Let’s dive into the numbers and technicals:
IonQ
IonQ’s shares are feeling the burn after the CEO's comments, down nearly 30% over the past five days. However, with the stock hovering just above key moving averages, there are still glimmers of hope.
Chart created using Benzinga Pro
Its eight-day simple moving average (SMA) of $43.76 suggests it could be primed for a bounce, while the 200-day SMA at $14.33 is also showing a solid bullish signal.
But, the technicals paint a mixed picture – the stock is under heavy selling pressure and is below its eight, 20, and 50-day SMAs. The risk of further bearish movement remains, but the relative strength index (RSI) of 39.05 shows it’s not quite oversold yet.
Rigetti Computing
Rigetti’s shares have been hit by the quantum frost, down 35% in the last five days. Yet, the company still carries strong technicals.
Chart created using Benzinga Pro
The eight-day SMA of $16.98 and the 20-day SMA of $12.39 both point to a potential rebound. The RSI is neutral at 46.58, and moving average convergence/divergence (MACD) indicator is bullish at 3.22. If the quantum sector catches a break, Rigetti might be one to watch.
D-Wave Quantum
D-Wave Quantum has been one of the hardest hit, with a 40% drop in just a few days. Still, its technical indicators remain resilient.
Chart created using Benzinga Pro
The eight-day SMA of $8.88 and the 20-day SMA of $7.61 show strong bullish signals, but D-Wave is still facing some bearish pressure, being below its recent SMAs. The RSI of 42.88 indicates that the stock is neither oversold nor overbought, suggesting a balance between buying and selling sentiment. MACD is positive and bullish at 1.23 despite the recent slid.
While Huang's comments have thrown a wrench in the momentum for these quantum darlings, the technicals don't entirely rule them out as potential buys, especially if the broader market sentiment shifts or if progress in quantum computing surprises us.
For now, it's a waiting game. The quantum computing sector might be experiencing a temporary stumble, but if the long-term potential holds up, these stocks could rise again once the storm clears. Time to buckle up and watch this quantum rollercoaster unfold.
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