Morgan Stanley's astonishing prediction in the SpaceX rating report: SpaceX's stock price could hit $600.

Analyst Adam Jonas from Morgan Stanley presented a stunning "bull case scenario" in his rating report on SpaceX: the stock price could reach $600, valuing the company at $8 trillion, making it the world's most valuable. However, to reach $600, "everything must develop in the most perfect way"first, SpaceX must successfully deploy orbital AI data centers on a large scale, with costs reduced to half of what they are now. This is highly dependent on the fully reusable heavy rocket Starship that the company is currently developing to enable high-frequency, efficient flights. Second, Starlink must far exceed its current home internet business, expanding to serve AI robots. The bull case scenario assumes that by 2040, there will be hundreds of millions, or even billions, of AI-driven robots connected to Starlink, with an average revenue per user reaching $35. In simple terms, the path from $133 to $600 primarily relies on technologies that do not yet exist and businesses that have not yet been scaled, assuming everything develops in the most ideal manner.