SpaceX (SPCX) stock has taken off again, aiming to overtake two heavyweight tech titans in the trillion-dollar market cap club.
SpaceX’s market cap now stands at $2.26 trillion, just below Taiwan Semiconductor (TSM) at $2.5 trillion and Amazon (AMZN) at $2.76 trillion. SpaceX shares are up 64% from their August 3 low.
The stock has gained 16% over the past month, driven in part by two factors.
First, Wall Street has backed SpaceX, even though the company is likely poised to report a quarter of heavy losses amid aggressive capital spending. About 80% of sell-side analysts rate SpaceX a buy or strong buy, according to Yahoo Finance AlphaSpace data.
This uptrend has coincided with three very bullish analyst notes over the past two weeks. Here are everyone’s comments that stood out to us:
“SPCX remains one of our top picks, and we think investors should look at the story, as an article by Elon Musk on
“…AI segment estimates still appear relatively conservative (compared to Street estimates) over the next 6-18 months absent a correction in the broader AI operating landscape. Also, for the space segment,” wrote Goldman Sachs analyst Eric Sheridan.
“Adjusted for growth, SpaceX is one of the lowest-cost ways to take advantage of the high optionality of the space and intelligence economy,” said Adam Jonas, an analyst at Morgan Stanley. “Investors still have a few weeks to ‘seize’ 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, which essentially represents 26 revenue generators for the company.
This was welcome evidence for investors optimistic about Starship’s profit potential.
“Starship represents the next potential step in feature enhancement, with a significant increase in payload capacity and a lower cost per kilogram that could accelerate the deployment of next-generation Starlink satellites, expand deep space and national security opportunities, and ultimately support new on-orbit infrastructure use cases,” said Dan Ives, partner at Yorkville Ives.
167.89 -4.03 (-2.34%)
At 11:02:20 a.m. EDT. Open market.
Brian Sozzi is the editor-in-chief of Yahoo Finance, host of the Sozzi unleashed the morning show and Power Actors with Brian Sozzi podcast and member of the Yahoo Finance editorial leadership team. Follow Sozzi on @BrianSozzi, InstagramAnd LinkedIn. Any advice on stories? Email brian.sozzi@yahoofinance.com.
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