After Google's parent, Alphabet (NASDAQ: GOOGL), announced a breakthrough in quantum computing with its Willow chip, stocks linked to quantum tech have soared. Rigetti Computing (NASDAQ: RGTI) has seen its value rise several times over in just a month. However, one company that has seen a less substantial rise is Skywater Technology (NASDAQ: SKYT). Shares are up around 61% in the past month as of the Jan. 2 close.
The company’s business is more diversified than just quantum computing, which is why its value hasn’t seen the same meteoric rise. However, the company generates much more revenue than Rigetti. Yet, it trades for a fraction of its valuation. This begs the question: Is Skywater a more fairly valued quantum computing stock at this point that can benefit in the long term?
