SpaceX (SPCX) stock has taken off again, with its sights set on overtaking two heavyweight tech titans in the trillion-dollar market-cap club.
The market cap on SpaceX now stands at $2.26 trillion, just shy of Taiwan Semiconductor (TSM) at $2.5 trillion and Amazon (AMZN) at $2.76 trillion. SpaceX shares are up 64% from their lows on Aug. 3.
The stock has gained 16% over the past month, in part based on two factors.
First, Wall Street has stood by SpaceX despite the company likely being on the cusp of reporting a quarter of heavy losses amid aggressive capital expenditures. About 80% of the sell-side analysts rate SpaceX a Buy or Strong Buy, per Yahoo Finance AlphaSpace data.
The bullishness has coincided with three very upbeat analyst notes in the past two weeks. Here are comments from each that stood out to us:
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“SPCX remains one of our top picks, and we think investors should be leaning into the story, as a post by Elon Musk on X detailing current and expected GPUs across Colossus 1 and 2 indicates the Street is underestimating the company’s 2H26 compute and therefore 2027 revenue and EBITDA,” Evercore ISI analyst Kutgun Maral wrote.
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“… AI segment estimates still look relatively conservative (relative to Street estimates) over the next 6-18 months absent a correction across the broader AI operating landscape. In addition, for the Space segment,” Goldman Sachs analyst Eric Sheridan wrote.
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“Adjusted for growth, SpaceX is one of the cheaper ways to play the strong optionality of the Space and Intelligence Economy,” Morgan Stanley analyst Adam Jonas said. “Investors still have a few weeks to ‘catch’ the opportunity before [Starship] Flight 15.”
Second, SpaceX put Starship into Earth orbit for the first time in late September. In the process, it deployed all 26 Starlink V3 satellites on board — essentially 26 revenue generators for the company.
It was a welcome proof point for investors bullish on Starship’s profit potential.
“Starship represents the next potential step-function improvement, with a significant increase in payload capacity and lower cost-per-kilogram that could accelerate deployment of next-generation Starlink satellites, expand deep-space and national-security opportunities, and ultimately support new infrastructure use cases in orbit,” Yorkville Ives partner Dan Ives said.
168.08 -3.85 (-2.24%)
As of 11:12:22 AM EDT. Market Open.
Brian Sozzi is Yahoo Finance’s Executive Editor, host of the Sozzi Unleashed morning show and the Power Players with Brian Sozzi podcast, and a member of Yahoo Finance’s editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email brian.sozzi@yahoofinance.com.
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