The article argues that three quantum computing stocks, IonQ, D-Wave, and Rigetti, remain pricey and unprofitable despite steep declines this year. IonQ has $3 billion in cash and second-quarter sales up 287% to $80.1 million, though much of that growth came from acquisitions, while its non-GAAP EBITDA loss widened to $120.3 million. D-Wave posted just $3.1 million in revenue with a price-to-sales ratio of about 333, versus an average of 6 for the tech sector, while Rigetti reported $5.1 million in revenue, a $28.1 million operating loss, and a P/S ratio of 283. The author suggests caution, with only a small IonQ position potentially making sense, since commercial use cases for quantum computing are still years away.
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