SpaceX stock surges
SpaceX shares surged about 8% to $171.09 on Monday, marking their highest close since June. The rally followed bullish analyst commentary and fresh developments around the company's AI and chipmaking ambitions. (Sources: Yahoo Finance, CNBC)
Morgan Stanley bullish
Morgan Stanley analyst Adam Jonas reiterated an Overweight rating and a $300 price target for SpaceX. The target implies roughly 89% upside from the stock's Friday close of $158.96.
AI opportunity
Morgan Stanley's bullish case goes beyond rockets and Starlink. The firm sees potential upside from AI computing, chipmaking and other artificial intelligence businesses, arguing that investors may not yet be fully valuing these opportunities.
Musk's TSMC talks
Elon Musk confirmed that discussions with Taiwan Semiconductor Manufacturing Co. (TSMC) are continuing over a potential chipmaking project. The proposed facility could supply chips for SpaceX, Tesla and xAI, although the talks remain preliminary.
Starship next catalyst
Investors are also looking ahead to Starship Flight 15, expected in late October or November. Morgan Stanley sees progress on Starship, AI products and new computing contracts as potential catalysts for the stock.
Musk back above $1 trillion
The SpaceX rally pushed Elon Musk's estimated net worth back above the $1 trillion mark, according to Forbes data cited by Benzinga. Musk was estimated to have gained about $58.7 billion on Monday as SpaceX and Tesla shares rose.
(Disclaimer: This slideshow is based on inputs from agencies. These do not represent the views of The Economic Times)APRead more onSpaceXSpaceX sharesElon MuskMorgan StanleyAdam JonasAI computingchipmakingTSMCTaiwan Semiconductor Manufacturing CompanyStarshipEnter search text:BrowseCompanies:ABCDEFGHIJKLMNOPQRSTUVWXYZ123456789
