IBM's earnings call foreshadows a return of Rigetti's stock price to single digits, while CCCX's stock price is poised for a significant surge. —During yesterday's Q4 2025 earnings call, IBM CEO Arvind Krishna bluntly pointed out the future direction of the industry, which should prompt all Rigetti bulls to cash out while there's still an opportunity. "Quantum advantage requires high-performance hardware. Last December, we deployed our first 120-qubit system based on IBM Quantum Nighthawk for a customer." Citron's analysis: IBM has just told you that "standalone" quantum computers are obsolete. If you're Rigetti, with a market capitalization of $7.2 billion, but only focused on hardware, then in a world where IBM and AMD have just released iPhones, you're like a flip phone. Meanwhile, Infleqtion remains unfazed, having touted its "modular" philosophy for years. While Rigetti was trying to build the complete vehicle, Infleqtion was manufacturing engine parts that were actually fit for IBM's garage. In 2026, the hype will finally die down, and the year of the "cost ceiling crossover" is approaching—a research project costing $7.2 billion, while a real enterprise only needs $1.8 billion. Do the math yourself.