SpaceX's biggest bull sees valuation soaring above $10 trillion

Raymond James analyst Gesuale initiated coverage on SpaceX with a strong buy rating and an 800 dollar price target, the highest on Wall Street, implying a market valuation of about 10.5 trillion dollars against the current sub-2 trillion dollar level. The bullish thesis hinges on AI revenues rising from 16 billion dollars today to a projected 4.9 trillion dollars by 2035, representing nearly 94 percent of total revenue. Risks flagged include unexpected launch failures that could drag the stock down to 125 dollars, below its 135 dollar IPO price.