SpaceX stock jumped close to 20% on Monday, hitting a market cap of $2.52 trillion, outshining TSMC.
- SPCX is now the sixth largest company globally based on market capitalization.
- The company is now merely 10% away from overtaking Amazon.
- SpaceX said it will release quarterly and annual financial results and other news only through its website and social media account on X, bypassing wire services.
SpaceX (SPCX) share price ended Monday nearly 20% higher and continued to rally about 5% after-hours, extending gains from its stellar Nasdaq debut on Friday last week.
The Elon Musk-led rocket maker’s market capitalization hit $2.52 trillion on Monday, overtaking Taiwan Semiconductor Manufacturing Company (TSMC) in the list of the world’s most valuable companies, The Kobeissi Letter said in a post on X.
SpaceX is now the sixth-largest company in the world and is a mere 5% away from overtaking Amazon (AMZN), whose market cap was about $2.65 trillion as of Monday’s close. Microsoft (MSFT), Apple (AAPL), Alphabet (GOOGL), and Nvidia (NVDA) are the top four most valued companies globally.
Musk’s $1-Trillion Revenue Forecast
Replying to a message on X, Musk said SpaceX could record $1 trillion in revenue by 2030. “I think SpaceX might be able to reach approximately $1T revenue in 2030,” he stated. “And I would be surprised if revenue is not greater than $1T in 2031,” he stated in another post.
Alternatively, the company mentioned that it intends to release all quarterly and annual financial information on its website or on its X (formerly Twitter) account, rather than relying on wire distribution services.
This strategy deviates from conventional corporate communication methods, which generally utilize newswire platforms such as PR Newswire or Business Wire to connect with a extensive range of media organizations and investors.
SPCX Stock: Analyst View
“Analysts view the recent IPO as a landmark moment, which funds Starlink expansion, orbital AI compute and future projects,” FactSet wrote in a post on X.
“The $1.6T communications market seen by some as the clearest near-term revenue opportunity, with Starlink positioned to capture notable broadband share with aims to move into mobile services, while the push into AI infrastructure and LLM services reinforces the platform’s value.”
“While there is some investor caution over the near-term price trajectory, several are optimistic, with some raising longer-term estimates on Starlink’s wireless disruption potential and domestic chip manufacturing tailwinds,” FactSet added.
SPCX Stock: Retail View
Retail sentiment on Stocktwits was ‘extremely bullish’ with ‘extremely high’ message volumes.
One user called SpaceX a “once in a generation thing.”
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