SpaceX shares have dropped about 33% from their post-IPO peak, yet Morgan Stanley reaffirmed a buy rating and a price target implying the stock could nearly double over the next year. The bank ties about half of that near-term target to SpaceX's artificial intelligence opportunities.
SpaceX (SPCX) stock has fallen about 33% from its post-IPO peak, even as Morgan Stanley keeps its buy rating and sees room for the shares to almost double. The bank reaffirmed a $300 price target on September 15th, implying about 100% upside over the next year, according to a report by The Motley Fool.
Shares pull back from post-IPO highs
Elon Musk's space and artificial intelligence company went public on June 12th, 2026, selling shares at $135 each and raising about $85.7 billion after costs. Its valuation climbed from an initial public offering mark near $1.77 trillion to nearly $2.8 trillion before the pullback. Shares recently traded near $152.71, giving the company a market cap of about $2.1 trillion.
Morgan Stanley bets on AI, not just rockets
Analyst Adam Jonas described SpaceX as a potential generational compounder that converts energy into networked intelligence at scale. According to The Motley Fool: "SPCX has the pieces to build an industry-leading intelligence per watt, per dollar, per second."
About half of that near-term target rests on AI opportunities, Morgan Stanley estimates. SpaceX itself says AI opportunities make up $26.5 trillion of the firm's $28.5 trillion addressable market. Longer term, the company expects more than 90% of its growth potential to come from AI, with its space projects supporting that core business.
Source: The Daily Hodl
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