Evercore ISI strategist Julian Emanuel has laid out a scenario where the S&P 500 hits 9,000, and the catalyst isn’t another Fed pivot or earnings beat. It’s Elon Musk’s rocket company going public.
The investment bank assigns a 30% probability to that bullish outcome, driven by an AI-fueled market expansion that SpaceX’s IPO would supposedly accelerate. The base case is more modest: a year-end 2026 target of 7,750 for the S&P 500.
The biggest IPO ever, by a wide margin
SpaceX is set to price its shares at $135 on June 12, 2026. The offering is expected to raise $75 billion, giving the company a post-IPO market cap of roughly $1.77 trillion.
Projections from both Evercore and Goldman Sachs suggest SpaceX could generate total revenue exceeding $1 trillion by 2031, with AI-related developments driving the majority of that growth. Capital expenditures are forecast to surpass $360 billion by 2030.
