SpaceX shares currently trade near $150, implying a roughly $2.0–2.2 trillion equity value after the June 2026 IPO at an initial $1.8 trillion valuation. Trader consensus for an end-October 2026 market cap above $2 trillion reflects sustained revenue momentum, with Q2 connectivity and AI infrastructure segments driving 92% year-over-year growth and robust adjusted EBITDA. Analyst price targets averaging above $230, alongside recent Starship milestones and expanding Starlink subscriber trends, reinforce the elevated implied probabilities for the $2.00–2.25 trillion and $2.25 trillion-plus brackets. Elevated multiples and post-IPO volatility remain key risks that could cap upside in the narrow window to resolution.