Space Exploration Technologies 3Q 2026: Revenue $14.58B, Net income $4.4B, EPS $0.35— 10-Q Summary

SpaceX (SPCX) is in talks to access 80,000 U.S. cell sites, including negotiations with Crown Castle (CCI), to build a nationwide wireless network. The initiative, backed by FCC approval and spectrum acquisitions, aims to challenge incumbent carriers. CCI stock surged 10% post-earnings on potential leasing deals.

SpaceX (SPCX) is nearing completion of a $40B debt offering at higher interest rates than previous borrowings, according to Semafor. This reflects investor concerns about AI infrastructure financing.

Alphabet's Google is paying SpaceX $11 billion annually through 2029 to lease cloud infrastructure, addressing a supply bottleneck. Google, with 15% of the cloud market, lacks sufficient Nvidia GPUs for customer demand. The deal avoids long-term capital and operational costs but may pose future risks, including dependency on SpaceX and Nvidia's dominance. Google's 2025 cloud revenue was $58.7 billion, up from $19.2 billion in 2021.

Taiwan Semiconductor (TSM) is in talks with SpaceX (SPCX) about the Terafab chip plant, with TSM insisting it must operate the facility. TSM reported Q3 revenue of $46.72B, with a 66.4% gross margin, and expects full-year revenue growth of about 44%. SpaceX needs more chips for its AI segment, which saw Q2 revenue rise 247%.

SpaceX's stock is 25% below its June high. Bank of America raised its price target to $275, citing a 161% revenue jump to $14.6B in Q3 and strong guidance. BofA's target implies an 88x forward multiple, with Starship's Flight 15 and Q4 results as key catalysts.

SpaceX (SPCX) trades at $159.31, near its IPO price, despite revenue doubling in a year. Q3 revenue hit $14.6B, up 161%, with net income at $4.4B. Guidance for Q1 2027 is $33B-$37B. Analysts see 41% upside to $224.81. The stock trades at 200x forward earnings, with high capex and uncertain milestones like Starship flights.