The race in quantum computing is heating up in 2026 as IonQ (IONQ) and Rigetti Computing (RGTI) move closer to their first-quarter earnings. Both companies are still in the early stages of generating revenue, but they use completely different technologies to build the world’s next supercomputers. With investor interest in AI-linked hardware rising, the focus is now on which company can scale faster and deliver stronger results.
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Trade RGTI with leverageUsing TipRanks’ Stock Comparison Tool, here’s a closer look at how these two stocks stack up today.
IonQ Stock (NYSE:IONQ)
IonQ has positioned itself as an early commercial leader in quantum computing. The company uses a trapped-ion approach, which allows its systems to run at room temperature with very high accuracy. This advantage has helped it secure partnerships with major cloud providers like Amazon (AMZN) AWS, Alphabet (GOOGL) Cloud, and Microsoft (MSFT) Azure.
In 2026, IonQ is focused on rolling out its “Tempo” system for enterprise use. The company also has a strong balance sheet, with about $3.5 billion in cash, giving it the flexibility to invest in growth without near-term funding pressure.
Looking ahead, IonQ is set to report its Q1 FY26 results on Wednesday, May 6. Analysts expect a loss of $0.45 per share versus $0.14 in the year-ago quarter and revenue of about $49.73 million, reflecting a 556.9% year-over-year growth. While IonQ is still reporting losses as it builds its factories, the market is focused on its strong revenue growth.
Is IonQ a Buy, Hold, or Sell?
According to TipRanks data, IonQ currently carries a Strong Buy consensus rating based on bullish analyst sentiment. The average IONQ price target of $65.00 implies a potential 40.45% upside. With a Smart Score of 9, IonQ is signaling a high likelihood of outperforming the broader market.
Rigetti Computing (NASDAQ:RGTI)
Rigetti is taking a different route with superconducting quantum chips, which require extremely low temperatures. This approach can offer speed advantages but has faced challenges around accuracy. The company is working to improve this with its new 108-qubit chiplet system, which aims to make quantum machines easier and cheaper to build.
Rigetti’s stock has been more volatile and is down about 18% year-to-date. It also has a smaller cash position of roughly $600 million, putting more pressure on execution and revenue growth.
Looking ahead, Rigetti is expected to report its Q1 results in mid-May. Analysts expect a loss of $0.04 per share and revenues of about $4.13 million, reflecting a year-over-year increase of 181%. Analysts are looking for signs that its new hardware is attracting more users to its “Quantum Cloud Services.”
Is RGTI Stock a Buy, Sell, or Hold?
Despite the recent stock price dip, Wall Street remains optimistic about Rigetti’s technology. The stock has a Strong Buy consensus rating from analysts. The RGTI average price target of $30.67 represents a 68% upside potential from its current price of $18.25. However, its Smart Score of 5 suggests a “Neutral” outlook, reflecting the higher risks compared to IonQ.
Conclusion
Based on the data, IonQ appears to be the more stable choice, supported by stronger cash reserves, higher revenue, and a better Smart Score. However, Rigetti offers higher upside potential but comes with greater risk due to its smaller scale and ongoing execution challenges.