SpaceX vs. the "Magnificent Seven": How the New Nasdaq-100 Member Stacks Up

Space Exploration Technologies (NASDAQ: SPCX) isn't portion of the "Magnificent Seven" radical of stocks, but its full marketplace worth of $1.48 trillion puts it up of components Meta Platforms (NASDAQ: META) and Tesla (NASDAQ: TSLA).

The different components, Apple (NASDAQ: AAPL), Nvidia (NASDAQ: NVDA), Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL), Microsoft (NASDAQ: MSFT), and Amazon (NASDAQ: AMZN), are the 5 astir invaluable companies successful the world.

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They're each tech giants, and they pb the Nasdaq-100, an scale of apical tech stocks that's a bellwether of marketplace sentiment toward exertion and artificial quality (AI).

SpaceX was officially added to the scale connected July 7 aft the rules were changed to fast-track its addition. Since then, the S&P 500 is down 2%, the Nasdaq-100 is down 7%, and SpaceX banal is down 25%.

Most of the Magnificent Seven companies person released net recently, with Nvidia scheduled for Aug. 26. SpaceX is connected way to study connected Aug. 4. 

Elon Musk and SpaceX's enactment squad banked connected raising $75 cardinal successful its archetypal nationalist offering (IPO), but due to the fact that request was truthful strong, underwriters exercised their overallotment, and SpaceX raised $86 billion.

That brought the company's full worth astatine IPO to $2 trillion, implying the marketplace believes SpaceX belongs close up determination with the world's different largest tech powerhouses.

But bash the fundamentals backmost that up? Let's spot however SpaceX stacks up adjacent to the Magnificent Seven stocks.

Is SpaceX conscionable getting started?

The archetypal happening to enactment is that SpaceX is simply a overmuch smaller institution by income than the different companies connected the list. Since it has a akin value, though, the evident decision is that it indispensable beryllium overmuch much costly -- and it is.

Data sources: Company filings, YCharts, Yahoo Finance. Growth is twelvemonth implicit year. TTM = trailing-12-month.

SpaceX trades astatine a wildly precocious valuation, but it's not increasing faster than its ample counterparts. Investors believe, though, that SpaceX represents the aboriginal and that it has monolithic maturation and net potential. Goldman Sachs analysts expect AI gross to summation 100-fold by 2030, and Morgan Stanley analysts forecast $3.4 trillion successful SpaceX gross by 2040.