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### Key Points
SpaceX is planning to go public with a valuation target of up to $2 trillion, aiming to raise as much as $75 billion, according to filings made in early April. The company generated approximately $15.5 billion to $16 billion in revenue last year, which could translate to a price-to-sales ratio exceeding 100 upon its IPO, making it one of the most expensive offerings compared to any stock in the S&P 500.
Amazon is emerging as a close competitor to SpaceX through its satellite internet division, Project Kuiper, now known as Amazon Leo. While Leo is currently in the testing phase with minimal revenue, it is expected to launch commercial services soon, with JetBlue slated to offer in-flight Wi-Fi through Leo starting next year. In contrast, Amazon’s market cap stands at $2.8 trillion, and the company reported a net income of $77.7 billion last year.
While SpaceX’s ambitious valuation sparks debate, its financial metrics present a striking contrast to Amazon’s established business model and revenue generation capabilities, leading some analysts to view Amazon as a more stable investment option.
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