Space Exploration Technologies (NASDAQ: SPCX) recently reported its Q3 2026 financial results, posting impressive gains in sales and earnings. The company's important Starlink business continued to grow, but the standout performance in the quarter came from SpaceX's artificial intelligence revenue. Investors were pleased with the report and pushed the stock higher, but SpaceX's results still showed heavy capital expenditures, and this will likely remain high for a while yet. While I understand why some investors jumped on the stock after the results were released, I still don't think SpaceX stock is a buy just yet. Here's why.
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