Story perspectives

SpaceX Shares Plunge, Lose $1 T; AI Satellite Planned

7/20/2026

Summary

Story summary

United States Space Exploration Technologies (NASDAQ:SPCX) stock fell to $123, erasing over $1 trillion in market value.
Morgan Stanley set a $300 base case with targets from $75 to $600.
Analysts forecast an average target of $236, ranging $225-$255.
First-quarter revenue rose to $4.6 billion from $4.067 billion in Q1 2025, while net loss topped $4 billion.
SpaceX will launch a “Starmind” AI satellite on Starship next year as New York bans hyperscale data-center construction.

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Story summary

United States Space Exploration Technologies (NASDAQ:SPCX) stock fell to $123, erasing over $1 trillion in market value.
Morgan Stanley set a $300 base case with targets from $75 to $600.
Analysts forecast an average target of $236, ranging $225-$255.
First-quarter revenue rose to $4.6 billion from $4.067 billion in Q1 2025, while net loss topped $4 billion.
SpaceX will launch a “Starmind” AI satellite on Starship next year as New York bans hyperscale data-center construction.