Elon Musk Says SpaceX Could Generate $1 Trillion in Revenue by 2030. Here Are 2 Companies That Could Get There First
Key PointsSpaceX is unlikely to reach $1 trillion in revenue by 2030.
Space Exploration Technologies (NASDAQ:SPCX), commonly known as SpaceX, recently made history with the largest IPO ever in mid-June. Following the initial surge, the stock's price has experienced significant volatility, before settling slightly above its IPO price of $225 per share. CEO Elon Musk has expressed optimism, stating that SpaceX aims to achieve $1 trillion in revenue by 2030.
This ambition is hard to fathom, given the company's current financials; it reported $7.8 billion in revenue during the second quarter, and analysts predict an even larger $44.63 billion in revenue for the entire year. While the lofty revenue target remains uncertain, two companies appear to be more on track for similar success: Amazon (NASDAQ:AMZN) and Walmart (NASDAQ:WMT).
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