SpaceX at 25x 2027 Sales Is Reasonable

SpaceX, now public as SPCX, trades at ~25x projected 2027 sales with a $2.3 trillion market cap. The company handles ~90% of global payload mass to orbit since 2023. Starship could cut launch costs to ~$300/kg and unlock a $28.5 trillion TAM spanning AI infrastructure and space data centers.