SpaceX shares rose in trading this week as the company prepares to release its first quarterly earnings report since going public in June. The stock's uptick comes even as analysts say they're paying more attention to the company's long-term artificial intelligence strategy than to the immediate financial numbers.
Why AI matters more than the quarter
Investors have been trying to gauge how SpaceX plans to integrate AI into its satellite and launch operations. The company has been quiet on specifics, but the broader market's appetite for AI-related bets has pushed analysts to look past short-term revenue and profit figures. Bernstein SocGen Group, for one, repeated its Outperform rating on SpaceX and kept a $239 price target. The firm's analysts argue that the real value driver for SpaceX will be its ability to deploy AI across its Starlink network and future projects, not just the next quarter's earnings beat or miss.
What the first report could show
SpaceX's June IPO was one of the most anticipated listings of the year, and the upcoming earnings release will be the first chance for public shareholders to see the company's financials in detail. While the exact date hasn't been announced, the report is expected within weeks. Near-term numbers are likely to reflect heavy capital spending on Starlink expansion and Starship development. But the stock's recent gain suggests the market is already looking beyond those costs.
Bernstein's $239 target implies roughly 15% upside from current levels, assuming the AI narrative holds. The firm's analysts didn't change their rating or target ahead of the earnings, signaling they expect the report to confirm their thesis rather than surprise.
The earnings call will be the first time SpaceX executives face questions from public market analysts. Investors will be listening for any hints about AI-related partnerships or internal projects. For now, the focus remains on the long game, with the near-term financials seen as a secondary concern.
