SpaceX's Valuation Surpasses Micron and AMD Combined
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 55 minutes ago
0mins
Source: Fool
- Market Valuation Comparison: SpaceX's market cap has reached $2 trillion, surpassing the combined valuation of Micron and AMD, indicating its leadership in the space technology sector; however, its actual revenue and profitability remain inadequate.
- Revenue Growth Disparity: SpaceX generated $18.7 billion in revenue last year, a 33% year-over-year increase, but only saw a 15% growth in Q1 2026, while Micron and AMD achieved revenue growth rates of 75% and 38%, respectively, highlighting its competitive disadvantage.
- Governance Structure Risks: Elon Musk controls over 80% of SpaceX's voting power, which could lead to decisions that do not align with the interests of other shareholders, unlike Micron and AMD, which have more dispersed governance structures that mitigate such risks.
- Future Potential vs. Current Reality: Although SpaceX's total addressable market is estimated at $28.5 trillion, showcasing immense future potential, its current financial performance and governance issues render it a high-risk choice for investors compared to Micron and AMD.
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Analyst Views on SPCX
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About SPCX
Space Exploration Technologies Corp. designs, manufactures, launches, and operates products and services built on technologies, including rockets and spacecraft. The Company's segments include Space, Connectivity, and artificial intelligence (AI). Its Space segment designs, manufactures, and launches reusable rockets to provide access to space. Its Connectivity segment operates broadband data and communications network powered by approximately 9,600 Starlink broadband and mobile satellites in Low-Earth orbit, delivering connectivity to consumer, enterprises, and government customers over 164 countries, territories, and other markets. In its AI segment, it operates a vertically integrated AI platform spanning its truth-seeking frontier model Grok, AI solutions for consumer and enterprise customers, X-its real-time information, entertainment, and free speech platform and AI computational infrastructure.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
SpaceX Quickly Joins Nasdaq-100 Index Following IPO
- Fast-Track Inclusion: SpaceX has become eligible for the Nasdaq-100 index just 15 trading days post-IPO, highlighting its rapid ascent in the capital markets and likely attracting increased attention from passive investors.
- Index Fund Inflows: With SpaceX's inclusion, over $800 billion in assets will begin purchasing its shares, particularly from index funds and ETFs tracking the Nasdaq-100, which is expected to significantly boost market demand.
- Market Impact: The inclusion of SpaceX marks it as one of the first beneficiaries of Nasdaq's newly adopted fast-track inclusion framework, altering how investors access newly public companies and shortening the waiting period, thereby enhancing market liquidity.
- Float Constraints: Although SpaceX's index weighting is expected to be less than 1%, its relatively small tradable float could necessitate substantial purchases from passive investment vehicles, potentially driving up the stock price.
See More
SpaceX Sets IPO Record at $75 Billion Amid Stock Volatility
- Record IPO Financing: SpaceX raised $75 billion in its initial public offering, setting a new record for IPO financing, with a valuation of $1.77 trillion, indicating strong market confidence in its future potential.
- Stock Price Volatility: Despite an initial price surge post-IPO, SpaceX's stock has declined by 3% as of June 23, reflecting uncertainty in market expectations and advising investors to proceed with caution.
- Lock-Up Period Schedule: Following SEC recommendations, SpaceX has established a lock-up period, with 20% to 30% of shares expected to be released in the coming months, which may exert downward pressure on the stock, particularly after the 90-day mark when the second block of shares is unlocked.
- Changes in Market Liquidity: With only 4% of shares available to the public, the gradual release of additional shares will increase market liquidity, necessitating investor attention to how these changes may impact stock prices.
See More
SpaceX's Valuation Surpasses Micron and AMD Combined
- Market Valuation Comparison: SpaceX's market cap has reached $2 trillion, surpassing the combined valuation of Micron and AMD, indicating its leadership in the space technology sector; however, its actual revenue and profitability remain inadequate.
- Revenue Growth Disparity: SpaceX generated $18.7 billion in revenue last year, a 33% year-over-year increase, but only saw a 15% growth in Q1 2026, while Micron and AMD achieved revenue growth rates of 75% and 38%, respectively, highlighting its competitive disadvantage.
- Governance Structure Risks: Elon Musk controls over 80% of SpaceX's voting power, which could lead to decisions that do not align with the interests of other shareholders, unlike Micron and AMD, which have more dispersed governance structures that mitigate such risks.
- Future Potential vs. Current Reality: Although SpaceX's total addressable market is estimated at $28.5 trillion, showcasing immense future potential, its current financial performance and governance issues render it a high-risk choice for investors compared to Micron and AMD.
See More
STMicroelectronics Positioned for Significant Upside Amid SpaceX Hype
- Market Outlook Positive: STMicroelectronics N.V. is touted as one of the stocks poised for significant upside, particularly in the context of the SpaceX IPO hype, and despite the IPO timing not meeting expectations, the company is still viewed as an investment opportunity, showcasing its strong potential in the semiconductor industry.
- Strong Stock Performance: The stock has surged by 140% over the past year and 164% year-to-date, indicating robust market confidence in its future growth, especially driven by demand for AI servers.
- Analyst Rating Upgrade: Miuzho raised its price target for the firm from $56 to $68 on May 19, maintaining an Outperform rating, reflecting optimistic expectations for its potential growth in the AI sector, which further boosts investor confidence.
- Solid Industry Position: As one of the largest semiconductor companies globally, STMicroelectronics designs and sells power management chips, analog chips, and sensors, with its technology embedded in every satellite launched by Elon Musk, underscoring its significance and influence in the market.
See More
Comcast Corp. Seen as Beneficiary of SpaceX IPO
- Positive Market Outlook: Mark Skousen highlighted Comcast (CMCSA) as one of the top 13 stocks poised for significant gains, with predictions of a potential 1,500% increase following the SpaceX IPO, indicating strong market optimism about its future growth prospects.
- Strategic Partnership Opportunity: Comcast has secured a deal to distribute Starlink's managed services to Fortune 500 companies, government agencies, and military operations, which means the company will earn a cut from every contract, enhancing its revenue streams.
- Cybersecurity Expansion: On June 11, Comcast announced the launch of a network-native cybersecurity solution tailored for small businesses, indicating its strategic move into the cybersecurity sector to boost market competitiveness and address rising security demands.
- Poor Stock Performance: Despite the optimistic outlook, Comcast's shares have declined by 31% over the past year and 18% year-to-date, reflecting investor concerns about its short-term performance, which may impact its future financing capabilities.
See More
Tesla Expands into AI with New Chip Development
- Chip Design Breakthrough: Tesla has completed the tape-out of its AI5 computer chip, which is expected to enter production within the next 12 to 18 months, supporting new projects like the Optimus humanoid robot, showcasing the company's ambitions in the AI sector.
- Significant Performance Boost: The new chip boasts a 40x performance increase over its predecessor, aimed at facilitating Tesla's expansion into robotics and autonomous driving, which is expected to provide a cost advantage and enhance market competitiveness.
- Vertical Integration Strategy: Tesla plans to build its own semiconductor manufacturing facility, named Terrafab, in Texas, aiming to further integrate its robotics and AI production chain and reduce reliance on external suppliers.
- Complex Market Outlook: Despite Tesla's market cap reaching $1.4 trillion and a P/E ratio of 348, realizing Musk's vision faces multiple challenges, prompting investors to carefully assess the current stock price's validity.
See More
SpaceX Quickly Joins Nasdaq-100 Index Following IPO
- Fast-Track Inclusion: SpaceX has become eligible for the Nasdaq-100 index just 15 trading days post-IPO, highlighting its rapid ascent in the capital markets and likely attracting increased attention from passive investors.
- Index Fund Inflows: With SpaceX's inclusion, over $800 billion in assets will begin purchasing its shares, particularly from index funds and ETFs tracking the Nasdaq-100, which is expected to significantly boost market demand.
- Market Impact: The inclusion of SpaceX marks it as one of the first beneficiaries of Nasdaq's newly adopted fast-track inclusion framework, altering how investors access newly public companies and shortening the waiting period, thereby enhancing market liquidity.
- Float Constraints: Although SpaceX's index weighting is expected to be less than 1%, its relatively small tradable float could necessitate substantial purchases from passive investment vehicles, potentially driving up the stock price.
See More
SpaceX Sets IPO Record at $75 Billion Amid Stock Volatility
- Record IPO Financing: SpaceX raised $75 billion in its initial public offering, setting a new record for IPO financing, with a valuation of $1.77 trillion, indicating strong market confidence in its future potential.
- Stock Price Volatility: Despite an initial price surge post-IPO, SpaceX's stock has declined by 3% as of June 23, reflecting uncertainty in market expectations and advising investors to proceed with caution.
- Lock-Up Period Schedule: Following SEC recommendations, SpaceX has established a lock-up period, with 20% to 30% of shares expected to be released in the coming months, which may exert downward pressure on the stock, particularly after the 90-day mark when the second block of shares is unlocked.
- Changes in Market Liquidity: With only 4% of shares available to the public, the gradual release of additional shares will increase market liquidity, necessitating investor attention to how these changes may impact stock prices.
See More
SpaceX's Valuation Surpasses Micron and AMD Combined
- Market Valuation Comparison: SpaceX's market cap has reached $2 trillion, surpassing the combined valuation of Micron and AMD, indicating its leadership in the space technology sector; however, its actual revenue and profitability remain inadequate.
- Revenue Growth Disparity: SpaceX generated $18.7 billion in revenue last year, a 33% year-over-year increase, but only saw a 15% growth in Q1 2026, while Micron and AMD achieved revenue growth rates of 75% and 38%, respectively, highlighting its competitive disadvantage.
- Governance Structure Risks: Elon Musk controls over 80% of SpaceX's voting power, which could lead to decisions that do not align with the interests of other shareholders, unlike Micron and AMD, which have more dispersed governance structures that mitigate such risks.
- Future Potential vs. Current Reality: Although SpaceX's total addressable market is estimated at $28.5 trillion, showcasing immense future potential, its current financial performance and governance issues render it a high-risk choice for investors compared to Micron and AMD.
See More
STMicroelectronics Positioned for Significant Upside Amid SpaceX Hype
- Market Outlook Positive: STMicroelectronics N.V. is touted as one of the stocks poised for significant upside, particularly in the context of the SpaceX IPO hype, and despite the IPO timing not meeting expectations, the company is still viewed as an investment opportunity, showcasing its strong potential in the semiconductor industry.
- Strong Stock Performance: The stock has surged by 140% over the past year and 164% year-to-date, indicating robust market confidence in its future growth, especially driven by demand for AI servers.
- Analyst Rating Upgrade: Miuzho raised its price target for the firm from $56 to $68 on May 19, maintaining an Outperform rating, reflecting optimistic expectations for its potential growth in the AI sector, which further boosts investor confidence.
- Solid Industry Position: As one of the largest semiconductor companies globally, STMicroelectronics designs and sells power management chips, analog chips, and sensors, with its technology embedded in every satellite launched by Elon Musk, underscoring its significance and influence in the market.
See More
Comcast Corp. Seen as Beneficiary of SpaceX IPO
- Positive Market Outlook: Mark Skousen highlighted Comcast (CMCSA) as one of the top 13 stocks poised for significant gains, with predictions of a potential 1,500% increase following the SpaceX IPO, indicating strong market optimism about its future growth prospects.
- Strategic Partnership Opportunity: Comcast has secured a deal to distribute Starlink's managed services to Fortune 500 companies, government agencies, and military operations, which means the company will earn a cut from every contract, enhancing its revenue streams.
- Cybersecurity Expansion: On June 11, Comcast announced the launch of a network-native cybersecurity solution tailored for small businesses, indicating its strategic move into the cybersecurity sector to boost market competitiveness and address rising security demands.
- Poor Stock Performance: Despite the optimistic outlook, Comcast's shares have declined by 31% over the past year and 18% year-to-date, reflecting investor concerns about its short-term performance, which may impact its future financing capabilities.
See More
Tesla Expands into AI with New Chip Development
- Chip Design Breakthrough: Tesla has completed the tape-out of its AI5 computer chip, which is expected to enter production within the next 12 to 18 months, supporting new projects like the Optimus humanoid robot, showcasing the company's ambitions in the AI sector.
- Significant Performance Boost: The new chip boasts a 40x performance increase over its predecessor, aimed at facilitating Tesla's expansion into robotics and autonomous driving, which is expected to provide a cost advantage and enhance market competitiveness.
- Vertical Integration Strategy: Tesla plans to build its own semiconductor manufacturing facility, named Terrafab, in Texas, aiming to further integrate its robotics and AI production chain and reduce reliance on external suppliers.
- Complex Market Outlook: Despite Tesla's market cap reaching $1.4 trillion and a P/E ratio of 348, realizing Musk's vision faces multiple challenges, prompting investors to carefully assess the current stock price's validity.
See More
