Amidst a Big Addressable Market, SpaceX Has Ample Scope for Sustained Growth

SpaceX (SPCX) stock has witnessed high volatility since listing on June 11. From highs of $225.64, SPCX stock corrected to lows of $104.83 in quick time. Currently, SPCX trades around its IPO price of $135. 

Amidst this volatility, business developments have remained positive. U.S. President Donald Trump's target of 1,000 U.S. space launches and re-entries annually by 2030 bodes well for the company.

Further, the company closed the acquisition of the AI coding startup Cursor for a consideration of $60 billion. With the merger of Musk’s AI startup, xAI, and this acquisition, the company is well positioned for robust growth in the AI business. 

In another recent development, SpaceX has announced expanding access to its artificial intelligence agent, Grok Bot. This will bring the bot to SuperGrok Plus, SuperGrok Heavy, Cursor Pro+, Cursor Ultra, and Cursor Teams Plans. This is likely to support the company’s growth through enterprise market expansion that translates into recurring revenue upside. 

About SpaceX Stock

Headquartered in Starbase, Space Exploration Technologies operates in the segments of space, connectivity, and AI. Founded in 2022, the innovation-driven company started with the objective of making life multiplanetary. Over time, Elon Musk’s brainchild has diversified beyond space, which has multiplied the company’s addressable market. 

In the space segment, the company has a dominant position. Since 2023, SpaceX has launched more than 80% of mass to orbit for the world each year with an over 99% mission success rate. 

In the connectivity segment, SpaceX operates a high-speed, low-latency global broadband data and communications network. This is powered by 9,600 Starlink broadband and mobile satellites in Low-Earth Orbit (LEO). The company is already delivering connectivity across 164 countries and territories. 

Further, xAI, which was founded in 2023, was acquired by SpaceX in 2026. This has provided the company an entry into the booming artificial intelligence segment. SpaceX claims to be the first company to deploy a coherent gigawatt-scale AI training cluster.

Multiple high-growth businesses have translated into a market valuation of $1.9 trillion for SpaceX. However, the price action remains significantly volatile since the initial public offering in June 2026.

Massive Addressable Market

There have been sustained concerns related to the company’s valuation. However, there are two key factors that support the valuation premium. First, SpaceX is high on innovation, and that provides an edge over peers. Further, the company has a diversified business model with a big global addressable market. 

To put things into perspective, SpaceX believes that space, connectivity, and AI have an addressable market of $5.7 trillion. Further, if enterprise applications are included in the AI business, the addressable market swells to $28.5 trillion. This can potentially imply a robust top-line growth trajectory for an extended period. 

Another point to note is that SpaceX ended Q2 FY26 with a cash buffer of $100 billion. This provides headroom for aggressive investment in organic and acquisition-driven growth. In the first six months of FY26, SpaceX has invested $23.6 billion in the AI segment. This significant level of capex is expected to translate into accelerated growth. While the company reported an operating loss of $2.1 billion for the first half of 2026, that’s unlikely to be a concern as the business is still in an early-growth stage. 

What Do Analysts Say About SPCX Stock?

Based on 35 analysts with coverage, SPCX stock has a consensus “Moderate Buy” rating. While 23 analysts have a “Strong Buy” rating for the stock, two have a “Moderate Buy,” and seven have a “Hold” rating. Among the bears, one analyst has a “Moderate Sell” and two analysts have a “Strong Sell” rating.

The mean price target of $217.85 represents a potential upside of 59% from current levels. Further, the most bullish price target of $800 suggests that SPCX stock could climb as much as 485% from here.