SpaceX (SPCX) market capitalization hit $2.52 trillion on Monday, overtaking Taiwan Semiconductor Manufacturing Company (TSMC) to become the sixth-largest company globally, according to The Kobeissi Letter. The milestone followed a nearly 20% gain in SPCX share price on Monday and approximately 5% after-hours rally, extending gains from the company's Nasdaq debut on Friday last week. SpaceX now sits 5% behind Amazon, whose market cap stood at approximately $2.65 trillion as of Monday's close, with Microsoft, Apple, Alphabet, and Nvidia holding the top four positions globally.
SPCX Stock Performance Details
SPCX share price ended Monday nearly 20% higher and continued to rally about 5% after-hours. The company is now merely 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 Projects $1 Trillion Revenue by 2030
Replying to a message on X, Elon 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.
SpaceX Shifts Financial Reporting to Website and X
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. 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.
Analyst View on IPO and Starlink Expansion
"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.
Retail Sentiment on Stocktwits
Retail sentiment on Stocktwits was 'extremely bullish' with 'extremely high' message volumes. One user called SpaceX a "once in a generation thing."
FAQ
What market capitalization did SpaceX reach on Monday?
SpaceX market capitalization hit $2.52 trillion on Monday, overtaking Taiwan Semiconductor Manufacturing Company (TSMC) to become the sixth-largest company globally.
How did SPCX stock perform on Monday?
SPCX share price ended Monday nearly 20% higher and continued to rally about 5% after-hours, extending gains from its Nasdaq debut on Friday last week.
What revenue forecast did Elon Musk state for SpaceX?
Elon Musk stated "I think SpaceX might be able to reach approximately $1T revenue in 2030" and added "I would be surprised if revenue is not greater than $1T in 2031."
