SpaceX's first financial report came to Dharma: or at “most dangerous times” to maintain a target price of $300

On 3 August, SpaceX will release its first quarterly financial report after IPO on 4 August, which Morgan Stanley has indicated may be the “most dangerous moment” it has faced since its listing. The bank estimated that it would receive approximately $6.75 billion in the second quarter, with an adjusted loss of $0.35 per share, and that the number of consumer users worldwide would reach 12 million, with an average monthly income of approximately $65.5 per user (ARPU). However, the Bank believes that the market is truly concerned with management comments on future operations rather than short-term financial data. The Bank expects that SpaceX performance caller styles will be similar to Tesla, which will not provide too many quantitative financial measurements, but will instead focus on the timing of the development of the focus starship, the speed of the AI algorithm deployment and the overall direction of the Grok and Cursor models. Despite the recent significant revision of equity prices, it maintained the SpaceX target price of $300, considering that the current market still underestimated its AI operations. The Bank estimates that SpaceX valuations value space operations at approximately $8 per share, network and Starlink operations at approximately $128, X platform and Grok AI at about $12, and corporate AI operations at $152, representing more than half of the overall valuation, indicating that AI remains the main growth energy for the future。