Key Takeaways ARK Invest’s Cathie Wood argues SpaceX’s $1.75 trillion valuation will appear drastically underpriced looking back, based on Starship economics ARK’s analysis suggests every Sta
Cathie Wood took to X recently to articulate a bullish thesis for SpaceX shares, characterizing the company’s $1.75 trillion initial public offering as a “deep value opportunity” driven by what she believes is enormous untapped Starship launch revenue.
Space Exploration Technologies Corp., SPCX
Wood’s thesis relies on calculations from ARK Invest analyst Sam Korus. His research indicates Starlink generates approximately $19 million annually for each terabit per second of infrastructure capacity. One Starship mission could theoretically launch up to 60 next-generation V3 satellites, contributing roughly 61 terabits per second of additional capacity. This translates to approximately $1 billion in steady annual revenue per mission.
Wood extrapolated this figure against Musk’s publicly stated ambition of achieving 10,000 Starship missions annually, calculating $10 trillion in prospective annual revenue by decade’s end. Elon Musk responded personally to her analysis with a brief comment: “It’s not impossible.”
SPCX shares debuted at $135 each in June, launched public trading at $150, and surged to $225.64. The stock subsequently fell beneath its offering price to approximately $104.83 before rebounding. During after-hours Tuesday trading, SPCX decreased 0.58% to $142.66.
The $10 trillion estimate carries significant qualifications. Korus acknowledged that revenue per terabit per second will probably decrease as network capacity grows. ARK’s research supports this trend: Starlink revenue per terabit per second has already fallen from $23 million in 2024 to $19 million in 2025.
Wood’s calculation additionally presumes all 10,000 yearly missions would carry Starlink infrastructure. Musk has independently promoted the identical mission frequency for point-to-point Earth transport, indicating not every launch would automatically expand Starlink capacity.
Achieving 10,000 missions annually would demand over 27 successful launches daily. Starship has executed only two missions since SpaceX became public in June, both suborbital tests.
SpaceX plans Starship Flight 14 for September 22, subject to regulatory clearance. This mission would mark Starship’s initial orbital flight and first “revenue-generating flight,” per CFO Bret Johnsen’s comments, carrying production V3 satellites.
Musk verified this week that V3 constellation rollout commences this month. He projects V3 will ultimately provide over 100 times the transmission capacity of the existing Starlink network comprising roughly 11,000 satellites.
For perspective, SpaceX recorded $18.67 billion in revenue during 2025. Musk stated in June the company “might be able to reach approximately $1T revenue in 2030,” significantly below Wood’s $10 trillion forecast.
Analysts currently assign SPCX a Moderate Buy rating consensus, with 26 Buy recommendations, 6 Hold ratings, and 2 Sell ratings. The consensus price target stands at $232.07, suggesting approximately 62% potential upside from present trading levels.
The post SpaceX (SPCX) Stock: Cathie Wood Declares Current Valuation a Bargain Opportunity appeared first on Blockonomi.
