SpaceX valuation debate heats up as Musk hints at a 3.4 million× upside

Elon Musk suggested SpaceX could someday be worth as much as 3.4 million times its current value, a figure tied to a theoretical valuation method; Wall Street analysts' 12‑month targets range from $75 to $800, averaging around $232. SpaceX is not yet profitable and is burning cash on an aggressive investment program, but Starlink is expanding and posted about $1.656 billion in operating profit in the latest quarter with 12 million subscribers across 167 countries, while Starship completed its 13th test flight. Given the high risk of the venture, investors are advised to keep exposure small.