SpaceX Valuation Under Scrutiny as Morningstar Estimates Fall Below $1T

Key Facts

In a move that raises questions about private tech valuation bubbles, Morningstar reportedly values SpaceX at less than $875 billion. This new estimate is less than half of the company's targeted $2.4 trillion IPO price, highlighting a sharp divergence in expectations between the company and independent analysts. This development comes as major U.S. banks have been actively pivoting toward high-growth assets and digital currencies to attract wealth management clients.

These conservative estimates from Morningstar place SpaceX significantly below public tech giants like Alphabet, which maintains a market cap of approximately $2.2 trillion per market data. In a sector context, the revised valuation brings SpaceX closer to the scale of peers like Meta rather than doubling the market cap of Bitcoin as previously suggested. Analysts at Goldman Sachs note that institutional flows into alternative assets are becoming increasingly selective amid shifting interest rate expectations.

Regarding financial performance, the SPCX proxy stood at $185 (close June 18, 2026), having traded between a low of $172.11 and a high of $190 in recent sessions. Investors are now closely monitoring the upcoming Japan Balance of Trade data on June 21, 2026, alongside Federal Reserve policy signals, which could further influence risk appetite for innovative space and technology sectors.