Just a few months ago, Space Exploration Technologies (NASDAQ: SPCX) completed the largest initial public offering (IPO) in history. At the time, the company was valued around $1.8 trillion. One of the biggest critiques of SpaceX's public debut was that its valuation was stretched amid CEO Elon Musk's uncanny ability to induce hype and spectacle. However, following a blowout third-quarter earnings report, SpaceX has given investors a compelling reason to rethink how much the company is actually worth. Musk spent considerable time detailing an ambitious plan to expand SpaceX's artificial intelligence (AI) compute capacity throughout next year. By the end of 2027, I predict SpaceX stock could reach more than $360 -- representing at least 122% upside from its current price. Read on to learn how I arrived at that forecast.
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