Is SpaceX a Buy After Its Latest Quarterly Results?

SpaceX reported exceptional Q3 results with revenue doubling to $14.6 billion and returning to profitability with $4.4 billion net income. Its AI business segment generated $7.56 billion in revenue, surpassing Starlink's $5.25 billion. However, the analyst cautions that while the business is strengthening, the $2 trillion valuation already prices in significant future growth. With $19.6 billion in capital expenditures, investors should wait for a more compelling entry price rather than chase the earnings rally, as strong business performance doesn't guarantee stock returns.