If I Had $1,000 to Invest Today, Here's the Trillion-Dollar Stock I'd Buy Instead of SpaceX
This company just reported stellar quarterly operating results, driven by its artificial intelligence-related efforts.
Overview
Space Exploration Technologies, which operates in the space transportation, satellite internet connectivity, and artificial intelligence (AI) infrastructure industries, went public on June 12. Its stock quickly rallied to a peak of $225, but it has since lost half of its value and closed at just over $108 on Friday, July 31.
But SpaceX still has a hefty market capitalization of $1.43 trillion. Since the company generated just $19.3 billion in revenue over the last four quarters, its stock remains at a sky-high price-to-sales ratio of 74, making it almost 12 times as expensive as the Nasdaq-100 technology index.
Details
That means more downside could be ahead, which is why if I had $1,000 to invest today, I'd look elsewhere. Here's why I think Microsoft (NASDAQ: MSFT) will perform significantly better over the long term.
Source
Originally published at www.fool.com.