SpaceX (NASDAQ:SPCX) has already made history. The Elon Musk-led company completed the largest IPO ever on Friday, and investors wasted little time piling in, sending shares soaring 19% in their market debut. The blockbuster debut pushed SpaceX’s valuation above $2 trillion and further cemented Musk’s status as the world’s first trillionaire. Introducing TipRanks MCP for Agents Deliver institutional-grade market data directly into Claude, ChatGPT, Cursor, and other MCP-compatible AI tools. Designed for personal research, portfolio monitoring, and AI-assisted investment workflows.
Yet, with the stock already off to such a strong start, has the easy money already been made?
Not according to Oppenheimer’s Timothy Horan, who believes there is still room for shares to move higher.
“We believe SpaceX represents an opportunity to own a leading AI and connectivity giant, while also capturing the optionality of space economies,” Horan said.
SpaceX’s ecosystem spans three major growth engines: connectivity through Starlink, AI through xAI, and its core rocket launch business. According to Horan, the company’s strategy is built around deep vertical integration, with more than 80% of Starlink satellites, Starship components, and related hardware manufactured internally. The analyst views this as a significant competitive moat across multiple business lines.
