**SpaceX Valuation Concerns: Analysts Cite Overvaluation**
Space Exploration Technologies Corp., known as SpaceX, is currently facing scrutiny regarding its stock valuation. As of June 24, 2023, Morningstar estimates SpaceX’s stock is trading at a 152% premium, assigning a fair value of $62 compared to its closing price of $154, resulting in a market capitalization of $2.05 trillion—$1.2 trillion more than Morningstar’s valuation.
The company’s price-to-sales ratio stands at 78, significantly higher than major tech firms like Nvidia and Micron, which have ratios of 19 and 20.5, respectively. Additionally, SpaceX reported a loss of nearly $5 billion in 2025, raising concerns about its profitability despite some revenue coming from its Starlink satellite business, which is experiencing slowing growth. As of late June, SpaceX shares have declined 22.6% in just a week, signaling potential risks for investors amid ongoing market volatility.
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