Will SpaceX Stock Be Higher or Lower in 1 Year? Here's My Honest Take

SpaceX's stock has surged 37% since its IPO at $135 per share, now trading at $185 with a $2.4 trillion market cap. The article presents both bull and bear cases: bullish factors include strong revenue growth from compute deals, Starlink's 50% YoY growth with 63% EBITDA margins, and Starship's commercial potential. However, bearish concerns include a valuation exceeding 100x trailing revenue (versus Morningstar's $780B fair value estimate), upcoming lockup expirations in December, and xAI's low GPU utilization and limited commercial traction. The author acknowledges the stock could reach $4 trillion or experience a 50% drawdown within a year.