SpaceX: Why This $1.6 Trillion Opportunity Is Critical for the Upcoming IPO

SpaceX is planning an IPO with a $1.77 trillion valuation, seeking to raise $75 billion. While the company claims a $28.5 trillion total addressable market, Morningstar estimates its true value at $780 billion, calling it significantly overvalued. However, the article highlights that Starlink's connectivity business—valued at $1.6 trillion—could be the key near-term driver of growth and profitability, with 4 million new customers added last year.