SpaceX at ~$1.58T: down 50% but still pricing perfection? I pulled the numbers on where SPCX trades versus the hyperscalers, and the gap is striking. Using ~$72.4B consensus 2027 revenue, SpaceX sits at roughly 22× forward sales. For context: → @nvidia : ~8.9× → @Microsoft : ~8.2× → Alphabet Inc.: ~4.3× → @Meta : ~4.2× → @amazon : ~2.5× That's ~2.5× the richest hyperscaler and 5–9× the rest. And it's already come down, from ~51× on 2026 base-case sales. The multiple is compressing fast, due to high revenue growth but also stock price decline. So is it time to load up on SPCX? The bull case is real: ~85% revenue growth (26→27E), matched only by Nvidia Optionality across Starlink, launch, and the newly folded-in AI segment Scarcity: <5% float since IPO keeps supply artificially tight The catch: It's the only loss-maker in the group, roughly –$9.4B TTM, –$19.8B free cash flow At 22×, there's almost no margin for error on capex or IPO lockup supply On earnings (not sales), the gap to profitable peers is far wider It's going to burn through its current cash balance ~$90B within 12-18 months...will need to raise more $$, which means more dilution Is 22× forward sales justified for a pre-profit business, or is this priced for flawless execution? $SPCX #STOCKS #SPACEX @AltfinsA