Elon Musk Just Made This $1 Trillion SpaceX Prediction. Here's What It Could Mean for the Stock By 2030.
Plenty of fans and supporters latched onto the bold claim, of course. Just bear in mind the company will eventually need to prove it can reach that mark.
Elon Musk Just Made This $1 Trillion SpaceX Prediction. Here's What It Could Mean for the Stock By 2030.
Overview
Space Exploration Technologies (NASDAQ: SPCX) founder and CEO Elon Musk continues to talk the stock up following last week's record-breaking initial public offering. In a reply to a journalist's post at social media platform X on Sunday afternoon, Musk wrote, "I think SpaceX might be able to reach approximately $1T revenue in 2030." He then adds, "And I would be surprised if revenue is not greater than $1T in 2031," offering some color he couldn't before the IPO.
In light of this expectation, the company's $2.5 trillion valuation suddenly makes much more sense. Indeed, if Musk's suggestion is anywhere close to being on target, SpaceX shares are arguably undervalued.
Details
Just take his comment with a (very) big grain of salt. The response doesn't detail how or why SpaceX will reach that lofty target, given that it reported revenue of only $18.7 billion last year. And remember, Musk has a penchant for overpromising and underdelivering.
Source
Originally published at www.fool.com.
