XSPC
A fresh yes from Wall Street
SpaceX just got a Buy initiation, and the pitch is pretty straightforward: the company is growing fast, losing less money on the way, and still looks like the 800-pound gorilla in space infrastructure. In other words, it’s not just a moonshot anymore — it’s starting to look like a real business with serious scale.
The numbers are doing a lot of the talking
The thesis leans on some eye-popping growth. Q2 revenue reportedly jumped 91.94% year over year to $7.814 billion, with strength across every segment. That’s the kind of growth that makes valuation arguments suddenly sound a lot less smug.
- Operating losses are narrowing, which is investor-speak for “the burn rate isn’t burning quite as hard.”
- Management is projecting $100 billion in annual recurring revenue by December, which is an enormous number even by Silicon Valley’s very creative standards.
- The stock has also held up after lockup expiration, which suggests buyers are still willing to catch the falling knife — or maybe, in this case, the rising rocket.
Why you should care
This isn’t just a love letter to Elon’s most valuable company. It’s a reminder that SpaceX is increasingly being valued like a platform, not a science project. If the market buys into the long-term math, the stock could keep defying the usual “too expensive” complaints.
Big picture: SpaceX still has plenty of risk, but the latest Buy call says the growth story is getting harder to dismiss with a straight face.