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Zacks Investment Ideas feature highlights: SpaceX and Qualcomm
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For Immediate Release
Chicago, IL – November 10, 2026 – Today, Zacks Investment Ideas feature highlights Space Exploration Technologies (SPCX - Free Report) and Qualcomm (QCOM - Free Report) .
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
Although SPCX's trailing price-to-sales (P/S) multiple remains elevated at roughly 52X, this metric may be particularly useful for evaluating the company as it transitions toward sustained profitability.
At a market capitalization of around $1.9 trillion, SpaceX would trade at just 3.8X annualized sales if Musk's $500 billion revenue run-rate projection materializes. It's noteworthy that this would offer slight discounts to its Zacks Wireless National Industry average and the benchmark S&P 500.
Importantly, this hypothetical multiple uses December 2027's projected annualized revenue rather than actual full-year sales. Still, it illustrates how rapidly expanding revenue could make SpaceX's seemingly lofty valuation more reasonable, provided the company delivers on Musk's aggressive expectations.
Bottom Line: Is The Rebound in SPCX Just Beginning?
For now, SpaceX stock lands a Zacks Rank #3 (Hold), suggesting investors may want to remain patient following its recent rebound.
However, Musk's extraordinary revenue outlook, combined with sharply rising earnings estimates, provides a compelling bullish catalyst. Should positive earnings estimate revisions persist, a buy rating could be on the way for SPCX, potentially supporting a more sustained recovery.
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Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Zacks Investment Ideas feature highlights: SpaceX and Qualcomm
For Immediate Release
Chicago, IL – November 10, 2026 – Today, Zacks Investment Ideas feature highlights Space Exploration Technologies (SPCX - Free Report) and Qualcomm (QCOM - Free Report) .
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
Although SPCX's trailing price-to-sales (P/S) multiple remains elevated at roughly 52X, this metric may be particularly useful for evaluating the company as it transitions toward sustained profitability.
At a market capitalization of around $1.9 trillion, SpaceX would trade at just 3.8X annualized sales if Musk's $500 billion revenue run-rate projection materializes. It's noteworthy that this would offer slight discounts to its Zacks Wireless National Industry average and the benchmark S&P 500.
Importantly, this hypothetical multiple uses December 2027's projected annualized revenue rather than actual full-year sales. Still, it illustrates how rapidly expanding revenue could make SpaceX's seemingly lofty valuation more reasonable, provided the company delivers on Musk's aggressive expectations.
Bottom Line: Is The Rebound in SPCX Just Beginning?
For now, SpaceX stock lands a Zacks Rank #3 (Hold), suggesting investors may want to remain patient following its recent rebound.
However, Musk's extraordinary revenue outlook, combined with sharply rising earnings estimates, provides a compelling bullish catalyst. Should positive earnings estimate revisions persist, a buy rating could be on the way for SPCX, potentially supporting a more sustained recovery.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can access their live picks without cost or obligation.
See Stocks Free >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.