From The Motley Fool · Bram Berkowitz · · 1m 10s
Wall Street Bullish on SpaceX After Strong Q3 Results
Wall Street boosts SpaceX stock after Q3 earnings beat estimates and ambitious AI compute targets.
In brief
Wall Street boosts SpaceX stock after Q3 earnings beat estimates and ambitious AI compute targets. Wall Street raised SpaceX's price targets after Q3 earnings exceeded expectations and Musk's AI compute projections. Originally reported by The Motley Fool.
SpaceX Q3 Earnings Beat
SpaceX reported third-quarter results with $14.6 billion revenue, topping Wall Street's average estimate by $1.7 billion.
AI Compute Expansion Targets
Musk expects SpaceX to add 10 gigawatts of AI compute capacity by end of 2027, with a small chance of 20 gigawatts.
Citigroup's Catalyst Watch
Citigroup placed SpaceX on an 'upside 90-day catalyst watch' and raised its price target to $240, implying 63% upside from current levels.
JPMorgan's Price Target Doubled
JPMorgan Chase doubled its price target from $240 to $500 per share, citing SpaceX's 10 GW compute and $254 billion revenue projections.
Q3 Revenue Forecast
SpaceX forecasted $33 billion to $37 billion in revenue for Q1 2027, far ahead of earlier estimates of $22 billion.
Market Reaction
The stock rose nearly 8% on the day after the earnings report, reflecting Wall Street's optimism.
The big picture
Wall Street raised SpaceX's price targets after Q3 earnings exceeded expectations and Musk's AI compute projections.
