SpaceX did not just rise on Tuesday. It briefly stared down Microsoft, passed Amazon, and reminded investors how fast a story can outrun the numbers.
Quick Take
- SpaceX rose about 4 percent and briefly moved ahead of Microsoft by market value before ending the day below that level.[1]
- The company also finished above Amazon, with a closing market cap near $2.65 trillion.[1][3]
- Elon Musk’s public claim that SpaceX could reach about $1 trillion in annual revenue by 2030 helped feed the rally.[1][2]
- The company’s disclosed 2025 revenue was about $18.7 billion, which shows how far the market is reaching for the future.[4][13]
The Day SpaceX Climbed the Ladder
SpaceX’s stock climbed about 4 percent on Tuesday, extending a blistering run after its blockbuster public debut. During the session, its market value reached about $2.94 trillion and briefly edged past Microsoft’s $2.93 trillion. By the close, that lead was gone, and SpaceX settled at about $2.65 trillion.[1][3]
The more durable milestone was Amazon. SpaceX ended the day with a market cap above Amazon’s roughly $2.64 trillion, which put the rocket company ahead of one of the world’s biggest consumer and cloud giants. That is a startling comparison, given that SpaceX has only just entered public trading.[1][6]
🔥 JUST IN: SpaceX overtakes Microsoft to become the world's fourth most valuable company by market cap. pic.twitter.com/IPvjXrQOKy
— Cointelegraph (@Cointelegraph) June 16, 2026
Why Investors Are Buying the Story
The market is not pricing SpaceX like a normal aerospace firm. Investors are treating it like a mix of rockets, broadband, defense, and artificial intelligence. That is why the company’s scale can look absurd next to its current sales. In 2025, SpaceX reported revenue of about $18.7 billion and a net loss of about $4.94 billion.[4][13]
Musk’s own comments added fuel. Reuters reported that he said SpaceX could potentially generate $1 trillion in revenue by 2030, and that he would be surprised if revenue did not exceed $1 trillion in 2031.[2] CNBC and other outlets tied the stock’s jump to that forecast and to the company’s fresh public-market momentum.[1][3]
The Gap Between Hope and Proof
The gap between the forecast and the filings is enormous. Morgan Stanley’s model, as cited in reporting, puts SpaceX at roughly $330 billion in 2030 revenue, while Goldman Sachs is described as more optimistic at more than $470 billion.[2][7][18] Even those estimates sit far below Musk’s trillion-dollar target.
That is why the debate is not really about whether SpaceX is impressive. It clearly is. The real question is whether a company that brought in under $19 billion last year can scale into a business many times larger than the biggest firms on Earth. The disclosed numbers do not yet show that bridge.[4][13][15]
What the Valuation Says About the Moment
SpaceX’s rise tells a familiar Wall Street story. Once a founder gains momentum, the market often starts paying for the next decade before the current year is even digested. In this case, the IPO itself, the huge first-day demand, and the jump in newly issued shares created a feedback loop that pushed the stock higher and made the revenue dream feel closer than it is.[1][5][8]
SpaceX Passes Amazon in Market Cap on Day Three of Trading, Briefly Touches $3 Trillion Intraday
Since listing on the Nasdaq at $135 per share last Friday, SpaceX shares have climbed more than 50% and closed Tuesday at $201.https://t.co/KItee7fZ2f#UnbiasedHeadlines #News pic.twitter.com/WwxK5R8vA4
— Unbiased Headlines (@UnbiasedHdlns) June 17, 2026
That does not make the rally irrational. It makes it speculative. SpaceX has disclosed growth plans that include artificial intelligence infrastructure, launch systems, and satellite expansion, but the company still has to prove that those lines can produce the kind of scale Musk described.[10][11][14] Until then, the stock is trading on belief first and proof second.
Sources:
[1] Web – SpaceX rises 4% to leapfrog Amazon in market cap, closes short of …
[2] Web – Elon Musk Bets SpaceX Will Hit $1 Trillion In Revenue By 2030 …
[3] Web – Elon Musk says SpaceX revenue may hit $1 trillion by 2030, far …
[4] Web – Elon Musk forecasts a trillion-dollar revenue for SpaceX by 2030
[5] Web – Musk says SpaceX could bring $1 trillion in revenue by 2030 – Reuters
[6] Web – Elon Musk Projects $1 Trillion SpaceX Revenue by 2030
[7] Web – Elon Musk Just Predicted That SpaceX Will Make $1 Trillion in …
[8] Web – Elon Musk Reacts To $330 Billion SpaceX Projected Revenue …
[10] Web – Musk predicts SpaceX could hit $1T revenue by 2030 despite $4.94 …
[11] Web – SpaceX IPO S-1 Breakdown: Financials, Starlink, CEO Comp
[13] Web – Space Exploration Technologies – S-1 – SEC.gov
[14] Web – [PDF] SpaceX – IPO Letter – Office of the New York State Comptroller
[15] Web – SpaceX Fires Starting Gun on Its Blockbuster IPO – WSJ
[18] Web – [PDF] Space Exploration Technologies – S-1/A#2 – Fidelity Investments
