SpaceX (SPCX) stock closed at $141.50, up around 0.5%, after Elon Musk made a bold revenue forecast that sent Wall Street talking.
Space Exploration Technologies Corp., SPCX
Musk posted on X that SpaceX could hit roughly $3.5 trillion in annual revenue by 2033. Morgan Stanley, which just updated its SpaceX research note, puts that same milestone around 2040. That’s a seven-year gap.
Morgan Stanley analyst Adam Jonas kept his Overweight rating on SpaceX and called the company “attractively valued.” The bank’s current price target sits at $137 per share, just below where the stock is trading now.
The math behind Musk’s forecast is steep. SpaceX posted Q2 revenue of $7.81 billion, up 92% year over year. That puts its annualized run rate at around $31 billion. Reaching $3.5 trillion by 2033 would require revenue to grow roughly 112 times, which works out to about 96% compound annual growth every year for seven years.
Connectivity was the biggest Q2 revenue driver at $4.29 billion, followed by AI at $2.56 billion, and the space business at $962 million.
Capital spending is also running hot. SpaceX spent $18.37 billion on capital expenditures in Q2 alone. That gives a sense of just how much cash the company is burning to build the infrastructure Musk’s targets depend on.
This week, SpaceX announced Starbase Louisiana, a new $100 billion spaceport in South Louisiana. Construction is set to begin in 2027, with the first Starship launch targeted for 2029.
Morgan Stanley expects the site to support polar and sun-synchronous launches, adding to SpaceX’s growing launch network. The bank’s model assumes SpaceX will eventually operate 15 launch pads, with three more coming by end of 2027. At two launches per pad per day, that could mean around 5,800 Starship launches annually by 2040.
SpaceX is also pushing hard into AI infrastructure. The company plans to grow its computing capacity from over 2 GW by end of 2026 to around 10 GW in 2027.
Morgan Stanley estimates that every additional 1 GW of orbital computing adds roughly $27 per share to SpaceX’s valuation. That’s a number worth watching as the company scales this part of the business.
Musk has also said previously that SpaceX could reach $1 trillion in annual revenue by 2030, with 2029 possible in a faster growth scenario.
Morgan Stanley’s previous valuation had SpaceX at around $330 billion by 2030, rising to $3.4 trillion by 2040.
SPCX stock closed at $141.50, up around 0.5% over 24 hours, trading above Morgan Stanley’s current $137 per share target.
The post Morgan Stanley Says Buy, Musk Says $3.5T Revenue Target: What’s Next for SpaceX (SPCX) Stock appeared first on CoinCentral.
