After an explosive second quarter, July has been a reality check for quantum computing stocks. Pure-play names such as Rigetti Computing RGTI and Quantum Computing Inc. QUBT or QCi, D-Wave Quantum QBTS and IonQ IONQ have pulled back sharply as investors locked in profits and rotated away from high-beta technology stocks. Yet Zacks’ short-term price targets continue to imply triple-digit upside for these companies, highlighting Wall Street’s optimism despite the recent pullback. Let’s get into the details.

Profit-Taking and Macro Concerns Trigger July Pullback

The sell-off appears to have been driven more by macroeconomic and market-wide factors than by any deterioration in company fundamentals. Throughout…