- SPCX
- QCOM
For Immediate Release
Chicago, IL – November 10, 2026 – Today, Zacks Investment Ideas feature highlights Space Exploration Technologies SPCX and Qualcomm QCOM.
Continued Rebounds in SpaceX Stock Imminent After Revenue Forecast?
Shares of Space Exploration Technologies are rebounding after a broader tech selloff, fueled by CEO Elon Musk’s exceptionally bullish revenue outlook.
After surging nearly 9% last Friday, SPCX has gained another 5% in Monday’s trading session, although shares remain well below their 52-week high of $225.
As SpaceX expands its artificial intelligence infrastructure and satellite connectivity businesses, investors are certainly wondering whether the recovery has room to run.
Musk’s Ambitious $500 Billion Revenue Forecast
At Friday’s Baron Investment Conference, Musk projected that SpaceX could achieve an annualized revenue run rate exceeding $100 billion by December 2026 and $500 billion by December 2027.
Musk even suggested that $1 trillion in annualized revenue was not entirely out of the question, although he emphasized that these were personal expectations rather than formal guidance.
Much of this optimism centers on SpaceX’s rapidly expanding AI computing business, which helped third-quarter revenue surge 161% year over year to $14.6 billion.
Another potential catalyst is SpaceX’s push into the wireless market through Starlink Mobile. The company recently announced a multiyear agreement with Qualcomm to build terrestrial 5G infrastructure, positioning it to compete more directly with major wireless carriers. Musk has also entertained the possibility of acquiring an established telecom operator.
SpaceX’s Earnings Outlook & Positive EPS Revisions
SpaceX’s improving earnings outlook reinforces the bullish sentiment. Based on the accompanying Zacks Consensus Estimate trend, fiscal 2027 EPS projections have surged from $1.77 to $4.10 over the last 30 days, an impressive 132% upward revision.
Meanwhile, FY26 EPS estimates have more than doubled from $0.09 to $0.19, while first-quarter 2027 estimates have climbed from $0.44 to $0.68 per share (Next Qtr below). Most impressive, of course, is that the jump from EPS of $0.19 this year to $4.10 in FY27 would reflect a +2,000% increase.
These revisions reflect growing confidence in SpaceX’s earnings potential as AI infrastructure investments and Starlink expansion accelerate. That said, significant capital expenditures remain a concern, with SpaceX projecting Q4 spending at $35-$40 billion.
SPCX’s Valuation Could Become Much More Attractive
